Filecoin (WFIL) has launched its long-awaited Mainnet, connecting it to Ethereum to boost its adoption and improvement by offering entry to liquidity on DeFi to storage miners and token holders.
In response to a press launch shared with Coin Rivet, WFIL was thought-about one of many main initiatives that emerged from HackFS, a digital hackathon by ETHGlobal and Protocol Labs that noticed 130 groups of builders compete.
WFIL is an erc-20 token wrapper over Filecoin, backed by Filecoin deposits on a custodial pockets. It’s meant to be used on Ethereum in addition to lending platforms that use the MakerDAO as collateral to get DAI or Aave.
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— Filecoin (@Filecoin) December 3, 2020
Compound can also be used to get liquidity for accruing curiosity, whereas Filecoin will also be used to supply liquidity to swimming pools like Uniswap, Balancer or Curve.
Commenting on the launch, WFIL Co-Founder Nazzareno Massari, stated: “We’ve been following the emerging technologies in the space during recent years, and Filecoin was one of the projects that most excited us; we were inspired to hack on it because it exploits the potential of IPFS, filling a gap in the space by adding a new layer of complexity.”
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