Filet tokenizes the mining power of Filecoin and injects it into the DeFi ecosystem to provide FIL holders with risk-free and fast-growing FIL staking services, with FIL annual returns, which are reaching 50%.
About Filet project
For FIL holders, Filet is a decentralized Filecoin staking service. Any FIL holders with a total of 10 FILs can participate in the project. Users can choose flexible betting periods. The longer the betting period, the higher the income. Assets and income are guaranteed by smart contracts.
Filecoin mining operators provide their Filecoin mining power for Filet to receive File tokens. One File token strictly represents Filecoin mining power in 1 GB. They place File tokens in Filet to borrow FIL, set by users. The borrowed Fil will be directly transferred as a guarantee of the Filecoin mining node as collateral.
Other features:
| 1 | The FIL bet can be withdrawn at any time at the user's choice. |
| 2 | The tokenized mining power and the assets at stake are managed by Filet smart contracts and cross-chain bridges. |
| 3 | It is absolutely safe, open and transparent. |
During the staking period, 80% of the unlocked FILs, mined by the mining power (minus gas fees, incurred during the staking period), belong to the user. The mining pool receives the rest of the production as a maintenance fee to cover the cost of mining equipment and operation.
The user can only earn income from the unlocked FIL. At the end of the staking period, the remaining unlocked FIL belongs to the mining pool. Users cannot withdraw staked assets before maturity unless new users come on board on the same day with the same or more staked assets.
Additionally about defi app
Any Filecoin mining pool can register their Filecoin nodes with Filet after receiving community approval. The approved mining pool can pledge its Filecoin mining power to Filet as collateral. Once the community approves the request, the corresponding number of FILE tokens will be released to the mining pool. FILE tokens, received by the mining pool, can be sold on the secondary market. For a mining pool, there is a great way to add liquidity to your mining power.