SFT Chain Annual Reprt 2023

5 min readFeb 2, 2024

Introduction

The year 2023 was a defining period for SFT Chain, marked by strategic navigation through global economic shifts and significant advancements in blockchain and DePIN technology.

Technological and Product Advancements

Our dedication to technological advancement led to major enhancements in system performance, security, and integration of DePIN technology. This integration has revolutionized the way we approach data privacy, security, and interoperability within our blockchain framework.

Ecosystem Expansion with DePIN

Our ecosystem expansion strategy was significantly boosted by integrating DePIN solutions. These efforts have opened new avenues for collaboration, creating a more versatile and secure environment for our users and partners.

January

Strategic Planning, Focusing on DePIN Integration

In January, our team concentrated on establishing partnerships and collaborations with other blockchain projects. This involved investigating potential integrations with well-known DeFi protocols and decentralized storage protocols to ensure smooth user access to the network. The strategic planning phase will entail identifying important milestones and setting targets for the successful integration of DePIN into the current infrastructure by 2023.

February

Introducing the SFT Protocol with DePIN for Enhanced Security

SFT Chain is a pioneering ‘Chain of Chains’ that seamlessly integrates with the Filecoin ecosystem, focusing on DePIN. Our platform enhances Web3 by uniting storage, computing, and edge CDN capabilities. We are dedicated to advancing decentralized physical infrastructure, thereby enriching the Filecoin network with broader, more versatile applications and services that extend beyond traditional boundaries.

March

Unlocking Filecoin’s Potential with FVM and LSD

SFT Protocol merged liquid staking derivatives (LSD) with the Filecoin virtual machine (FVM) to enhance liquidity, flexibility, efficiency, and profitability within the Filecoin ecosystem. Users can benefit from improved collateralization, easy trading and redemption of SFT tokens, integration with DeFi protocols, and maximized earnings while maintaining liquidity and flexibility.

April

Attended Hong Kong Web3 Festival 2023 and Filecoin Side Events

SFT Protocol engaged with Filecoin and Web3 builders during their trip to Hong Kong Web3 Festival 2023, discussing the Filecoin ecosystem and sharing insights on SFT Protocol’s opportunities and challenges. The project focuses on empowering AI through decentralized storage solutions, incentivizing AI research and development, and promoting AI adoption in DeFi. SFT Protocol is well-positioned to meet the growing demand in the Web3 and AI service provider industry.

June

SFT Protocol Won the Filecoin and IPFS Ecosystem of the Month

SFT Protocol has been recognized as the Ecosystem Win of the Month by Filecoin official. We have received pledges of 300,000 FIL tokens and have formed partnerships with TokenPocket and New Huo Tech. Our innovative solutions have successfully addressed liquidity efficiency issues within the Filecoin network. Moving forward, SFT Protocol intends to continue innovating, launching new products, and leveraging strategic partnerships to further advance blockchain development.

July

The release of SFT Protocol 2.0

SFT Protocol 2.0 introduced automated stake minting, a FIL liquidity pool with compound APY earnings, major updates including fixed-term and flexible-term staking, lending feature, cross-chain bridge between BSC and Filecoin, and RPC cloud services for multiple public chains.

August

Enhanced Token Empowerment in the SFT Protocol Ecosystem

SFT, rSFT, SPD, and rSPD are tokens that enhance the functionality and participation in the SFT Protocol. SFT represents staked FIL on FEVM and BSC chains, rSFT is a liquidity provider certificate, SPD is the governance token, and rSPD is an early utility token convertible to SPD.

September

SFT Protocol mainnet had reached a significant milestone with 2M FIL tokens staked

The mainnet of SFT Protocol had reached a major milestone, with more than 2 million FIL tokens staked as collateral! This achievement underscored the growing trust in the capabilities of our protocol. We extended our heartfelt thanks to our incredible community for their unwavering support!

October

Filecoin Foundation Joined Forces with SFT Protocol in Las Vegas

Filecoin Foundation had partnered with SFT Protocol to work together on decentralized storage and AI technology. The event, scheduled for October 3–5, 2023, at Park MGM in Las Vegas, NV, USA, featured SFT Protocol delivering a keynote speech titled “Enhancing AI with Decentralized Data: SFT Protocol Insights.”

SFT Protocol also took part in exclusive investor meetings to discuss applications of distributed storage. Through continuous collaboration within the Filecoin ecosystem, SFT Protocol had played a significant role in shaping the future of distributed storage and AI technology.

Recorded Video: https://youtube.com/watch?v=ZRQB1eJKssA……

November

Spacemesh Computing Power Exchange Activity Launch

In the SFT protocol hardware infrastructure, Spacemesh aimed to generate more profits for the community. By leveraging Spacemesh’s innovative technology, SFT protocol revolutionized the interaction between physical infrastructure and Web3. Through the integration of Spacemesh, our primary goal was to bridge the gap between physical infrastructure and Web3, creating an ecosystem that offers economic opportunities and benefits to the community.

December

SFT Chain Official Launch: Future Web3 Infrastructure

SFT Chain is a ‘Chain of Chains’ that integrates storage, computing, edge CDN, and more, connecting physical infrastructure with Web3. We aim to advance decentralized physical infrastructure, enriching the web3 with versatile applications and services. SFT Chain envisions the potential and opportunities of the DePIN platform in aiding customers with Web3 smart hardware infrastructure.

As we move into the exciting year of 2024, our unwavering focus and determination will be on further harnessing the boundless potential of DePIN technology. This cutting-edge technology will not only drive innovation and propel us towards a more secure future, but it will also enhance the efficiency and effectiveness of our platform. We invite you to join us on this transformative journey as we pave the way for a brighter, more decentralized future filled with endless possibilities.

Welcome to 2024, let’s start a new adventure!

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