In the development of SFT Protocol 2.0, the Staking Contract plays a crucial role. Through the design of this higher-level smart contract, FIL holders can initiate Staking and receive corresponding SFT tokens. The entire process is entirely automated by the smart contract, meaning all SFT issuance rights belong solely to the original chain’s FIL token holders.
Building upon SFT Protocol 2.0, we’ve introduced a new one-click staking feature, with the specific steps outlined below:
What is SFT?
SFT represents the computational power certificate for FIL holders participating in node mining. To acquire this certificate, holders need to stake their FIL in the Farm. After staking, holders receive the right to all node allocations under the SFT Protocol (5:5) and the right to redeem FIL (1:1). The flexibility of SFT makes it a crucial cryptographic asset that can be transferred via wallets, with the associated rights transferring accordingly.
Currently, the SFT Protocol has launched an SFT derivative market to enable SFT holders to access additional liquidity and asset diversification through various DeFi tools. These tools include Farm, Lend, Earn, Swap, Pool-Liquidity, and more.
Which Networks and Wallets Does SFT Protocol Support?
SFT Protocol currently supports the Filecoin network — FVM and BSC (Binance Smart Chain). The unique features and applications of these two networks allow the SFT Protocol to be utilized across a wider range of scenarios.
Filecoin — FVM
BSC (Binance Smart Chain)
SFT Protocol 2.0, with its innovative design concepts and technological implementations, has fundamentally transformed the staking and mining model of FIL. It provides FIL holders with a secure, efficient, and decentralized asset management pathway. Moreover, the SFT Protocol has opened an SFT derivative market, enabling SFT holders to access more liquidity and asset portfolio diversification through various DeFi tools, significantly enhancing asset liquidity and utilization efficiency.