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As the mainnet launch approaches, the discussion about staking after the mainnet launch of Filecoin has been getting more and more intense. Filecoin official Colin mentioned the DeFil solution on the slack channel. Lai Chuhang, chairman of Spacetime Cloud, also said in his speech that powerful miners do not need to worry too much about staking, because they have already obtained relatively rich staking coins in the space race. In addition, the launch of the DeFil platform can also help miners solve the staking problem through lending. Today, let's talk about DeFil.
DeFil=DeFi + Filecoin, that is, using a token bridge powered by the Ren protocol to convert Filecoin into ERC-20 tokenized FIL. Once in Ethereum, FIL holders and miners will lend Filecoin to each other at market interest rates, thereby helping storage miners solve the pledge problem.
Filecoin decentralized storage ecosystem to launch mainnet this month with Codefi Activate-powered marketplace app and Ethereum-linked lending protocol
From lending platforms to stablecoins and tokenized BTC, the thriving Ethereum decentralized finance (DeFi) ecosystem has launched a scalable network of integrated protocols and financial instruments representing more than $11 billion in value. ConsenSys Codefi, which provides tokenization, trading, and compliance products for the DeFi sector, has added support for Filecoin and will use its Activate platform to facilitate the launch of the Filecoin network. The Filecoin storage market will enable users with hosting needs to find the best storage prices from the most reputable miners. Secondly, the DeFi Bridge will enable the liquid market to borrow and lend Filecoin on Ethereum's strong DeFi market to ensure that sufficient and liquid Filecoin supply is available on the Filecoin network. On the Filecoin network, users pay storage miners to store their files. Storage miners on Filecoin run software and hardware to store files for clients and earn their own income by receiving block rewards. Filecoin's blockchain records transactions to send and receive FIL, as well as proofs from storage miners proving that they have stored the files correctly. The Filecoin mainnet will be officially launched at block height 148,888, which is expected to start around October 15, 2020. CodefiActivate will provide two products to bring the necessary usability for the early market dynamics of the Filecoin mainnet. The Filecoin DeFi Bridge is critical to the network’s early economic incentives between Filecoin’s FIL cryptocurrency and Ethereum, which will allow Filecoin holders to tokenize their FIL in Ethereum-based DeFi protocols. Everyone can access these tools through the intuitive Codefi interface, which combines insights into Filecoin network statistics and data with a seamless flow into borrowing/lending FIL or making storage transactions. Codefi Activate, along with DeFi Bridge, will launch Filecoin Storage to provide the best possible view of the Filecoin storage market, with the goal of making price discovery for storage on the Filecoin network simple and transparent. The Filecoin Storage application will consist of a simple searchable marketplace that gives ecosystem participants a comprehensive view of the Filecoin storage market and allows customers to filter, sort, and find the best miners for their needs. Filecoin miners who provide data storage services can use the app to announce their prices and availability to a marketplace browsed by clients, who work with miners to store and retrieve data through storage deals. Both applications will be enabled through Codefi Activate, a platform that facilitates decentralized network launches and accelerates network user participation. Its mission is to remove the complexity of participating in decentralized networks by facilitating interactions between network users, supporters, and creators. The Activation Dashboard provides users with a macroeconomic overview of a specific network. The dashboard distinguishes and displays real-time network information, so users can understand the next actions to take with their tokens. The Filecoin DeFi Bridge connects Filecoin and the thriving DeFi financial system. It can convert Filecoin FIL cryptocurrency into ERC-20 tokenized FIL using a token bridge powered by Ren Protocol. Once on Ethereum, FIL holders and miners can deposit their tokenized FIL into the DeFi lending market as collateral to earn interest or borrow more FIL to fund mining operations. When the Filecoin mainnet launches, the circulating supply of FIL will be low at first. Since network users need to pledge FIL to run storage miners, ensuring the supply of FIL through these loan markets is a key factor in expanding the storage market and increasing network utilization. By introducing the ability for FIL holders to lend and borrow FIL through the ERC-20 bridge, the Filecoin ecosystem will be able to increase the liquidity and economic activity in Ethereum DeFi; Ethereum native DeFi users who trade in packaged Filecoin and accelerate the development of the network can use the platform built by Codefi to deposit ETH-based assets as collateral, borrow packaged FIL, and convert it into local FIL to store data or interact with the Filecoin network.
Enter through the Filecoin mainnet The Codefi team is excited to support the Filecoin mainnet launch in October with these two new products. Filecoin Storage will go live with Mainnet so that miners and users can immediately understand the storage market, and the Filecoin DeFi Bridge will be available shortly. |
