FILLiquid Launches FIG Staking to Enhance Revenue Sharing in Filecoin Ecosystem

Monday, October 14, 2024 12:00 AM
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FILLiquid Launches FIG Staking to Enhance Revenue Sharing in Filecoin Ecosystem cover

FILLiquid, a new platform based on Filecoin, has recently launched FIG Staking, allowing users to earn yield by staking its governance token, FIG. This innovative product employs a revenue-sharing model that enhances the utility of the FIG token, enabling holders to claim a portion of the platform’s transaction fees. Since the launch of FILLiquid’s FIL liquidity protocol in August 2024, the platform has rapidly gained traction, amassing over $2.5 million in Total Value Locked (TVL). The FIG Staking launch saw nearly 1 million $FIG staked within just two hours, indicating strong interest from the community in engaging with the protocol more deeply.

The introduction of FIG Staking not only broadens the use of the FIG token beyond governance but also provides stakers with access to transaction-based revenue. Users can participate by depositing FIG into the staking product, with rewards accumulating as more transactions and loans occur on the platform. The staking process requires users to choose a deposit period, with longer commitments yielding higher rewards. The initial dividends will be distributed manually on specific dates, offering FIG holders multiple opportunities to begin staking and benefit from the platform’s growth.

FILLiquid aims to solidify its position within the Filecoin ecosystem by enhancing liquidity for storage providers, thereby promoting sustainable storage power growth. The protocol’s algorithmic interest rate model is designed to unlock liquidity for storage providers, addressing the challenges they face in making consistent FIL pledges. With a team experienced in the crypto space and a proven track record, FILLiquid is poised to become a significant player in the DeFi landscape, providing innovative solutions for both token holders and storage providers alike.

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