Can Revenue-Sharing Help FILLiquid Enter the Top-Ranked FEVM Filecoin-Based Projects?
Earlier this week, we announced our $FIG Staking product, which introduces new modern-era DeFi features into our Filecoin borrowing and lending platform, such as revenue-sharing and token burning.
Our reasoning behind this new DeFi product is to bring FILLiquid into the modern era of DeFi and to set the foundation for a long-term roadmap for everybody holding the $FIG token.
With the new feature set to be tested in phase 2, which is expected to go live on April 10th, let’s examine why we believe the revenue-sharing and token-burning model will help FILLiquid enter the top-ranked Filecoin EVM projects.
FILLiquid’s $FIG Staking Product Bringing New Meaning to ‘Governance Token’
The new $FIG Staking product helps elevate our native token $FIG from a governance token into a fully featured utility token.
Users will be able to stake their $FIG tokens into the DeFi product and instantly start earning revenue from the fees generated on the platform.
The revenues on FILLiquid are primarily generated from transaction fees on the network when lenders and borrowers deposit or withdraw $FIL from the liquidity pool.
At full utilization, these revenue fees are expected to continue mounting over the coming months, helping to provide a consistent revenue stream for all $FIG holders.
In addition to the revenue sharing, we’re also planning on integrating a token-burning feature, which will eventually turn $FIG into a deflationary asset by making it more scarce.
Part of the revenues generated on the platform will be sent to a smart contract, which will automatically buy back $FIG tokens from the open market and send them to a burner wallet, removing them from circulation.
The burning feature will provide a long-term source of consistent demand for the market through buybacks while reducing the supply over time.
Can Revenue-Sharing Help FILLiquid Enter the Top-Ranked FEVM Projects?
We’re incredibly excited to see where our revenue-sharing feature will lead us, as we believe it can help FILLiquid enter the top-ranked FEVM Filecoin-based projects.
Revenue-sharing has been a hot trending topic in the DeFi ecosystem over the past year, with stand-out projects like Rollbit using the feature to reach an astonishing $800 million market cap.
The feature helps to change the narrative from a governance token to becoming a platform of owners through holding.
Combined with the token burning, we believe the revenue-sharing will provide significant incentives for $FIG holders to continue supporting the network through the passive income received and the value appreciation experienced.
When Is $FIG Staking Being Launched?
The $FIG Staking product is an entirely new feature we intend to launch in the second phase of our testnet, which is scheduled to go live on April 10th, 2024.
The second phase of the testnet allows us to test this new feature in a live environment, helping ensure that the code in the smart contract is functioning as expected.
The second phase of the testnet also provides you the opportunity to participate in receiving another free $FIG airdrop distribution.
Over 10,000 wallets participated in the first phase of the testnet, all of which will share a huge slice of the 5 million $FIG reward allocated for the testing.
The second phase is designed to be much shorter, allowing us to test the new product and then instantly focus on getting FILLiquid launched on the mainnet.
Once the token goes live, those participating in the second phase of the testnet will have the opportunity to share a 3 million $FIG airdrop.
Participating is completely free, and you can follow these three guides (Part 1, Part 2, Part 3) to learn how to connect your wallet to the testnet network, load it with free testnet tokens, and start testing our three original products, and the new $FIG Staking.
We will soon release a brand new guide on conducting $FIG staking, so be sure to follow our social media channels below to be the first to know.
Overall, we’re incredibly excited about these next few weeks at FILLiquid as we intend to push Filecoin into a new era of liquidity.
