Anchorage and Tokensoft Partners to Bring Wrapped Filecoin to DeFi
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Anchorage and Tokensoft Partners to Bring Wrapped Filecoin to DeFi

November 25, 2020      Jafrin Ahmed

Anchorage and Tokensoft are partnering to bring the wrapped Filecoin (wFIL) to DeFi and the overall Ethereum ecosystem. The wFIL token can be now used on the DeFi based applications such as Compound, Maker, and Uniswap. The partnership between the two crypto infrastructure provider intends to bridge layer one protocols with Ethereum to bring liquidity to the ecosystem. The partnership was formed on the same day Filecoin announced its storage capacity dedicated by its global mining community exceeding one exabyte i.e. more than one billion gigabytes.

Bringing the Wrapped Filecoin (wFIL) to DeFi

Filecoin is a decentralized storage network that offers incentives to miners for providing storage capacity in the network. The network intends to attract developers and websites to pay in FIL tokens to access Filecoin’s storage or host data on the network.

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In the announcement, Colin Evran, Head of Ecosystem for the Filecoin project, stated:

“Wrapped Filecoin will enable some really creative DeFi products that create huge opportunities for Filecoin miners and storage users. We’re seeing so much innovation every day from dozens of individuals and institutions interested in decentralized storage, and are excited to see what happens once the deep DeFi talent pool can join in.”

On Nov. 24, 2020, Filecoin had partnered with Huobi crypto exchange to launch the Huobi-Filecoin Incubation Center. The center will be supported by a $10 million fund with a focus on blockchain incubation, investment, and community development.

Filecoin Boasts More Than 670 Active Miners

The decentralized file storage network currently includes more than 670 active miners and more than 90 organizations hosting on the network.

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Filecoin’s Discover feature allows all miners to select datasets that include literature, science, art, and history to mobilize the unused storage capabilities to host and make it accessible to the public. Some of the datasets include Berkeley’s Self-Driving Data, a copy of Wikipedia’s database, and the International Genome Sample Resource’s 1000 Genomes Project.

#Anchorage #DeFi #Filecoin #Token #TokenSoft #WFIL #Wrapped Filecoin
Jafrin Ahmed
Jafrin Ahmed

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.