Introducing FILLiquid: The First Liquidity Pool for Storage Providers in the Filecoin Ecosystem
Hey there, fellow Filecoin enthusiasts! Today, let’s explore the exciting world of FILLiquid, the groundbreaking decentralized platform revolutionizing liquidity for Storage Providers (SPs) on the Filecoin network.
What is FILLiquid, you ask? Well, it’s a decentralized platform built on Filecoin that allows $FIL token holders to stake their tokens and earn passive income. But wait, there’s more! FILLiquid also empowers SPs to borrow $FIL without the need for traditional collateral, thereby enhancing liquidity and scalability for the entire network.
Now, let’s dive into the testnet execution process. But don’t worry, it’s quick, easy, and completely free to complete.
To get started, we’ll need MetaMask. First, head over to Chainlist and add the Filecoin Calibration test network.
Next, visit either https://beryx.zondax.ch/faucet or https://faucet.calibration.fildev.network/funds.html, insert your wallet address, and claim your test tokens.
Once you’ve got your test tokens, navigate to https://test.filliquid.io/en/staking and stake your $FIL tokens.
Then, head to the Farming tab and deposit your $FIT tokens, selecting your desired locking period. Remember, the longer you lock your assets, the more $FIG tokens you’ll receive as collateral.
Now, onto the Borrow section. But hold on — to qualify as a borrower, you’ll need to obtain Storage Provider status. Don’t worry, though — we’ll cover how to do that in more detail in an upcoming article.
But wait, there’s more! By simply staking and farming, you’ll qualify for the reward pool with 5M $FIG tokens. And guess what? The rewards don’t stop there! They’re thrilled to announce our Bug Bounty Program. Discover a bug, confirm it via form submission, and you could earn up to 500k $FIG. Even minor bugs are rewarded, starting from 1k $FIG.
In conclusion, participating in FILLiquid is definitely worth your while. As the first liquidity project in the entire Filecoin ecosystem, there aren’t many participants yet, and the rewards are incredibly generous. So, what are you waiting for? Start testing now for a chance to earn extra rewards and be part of this groundbreaking initiative!
