What SFT will do on FVM
We are glad to have been officially recognized by Filecoin when FVM is launched. SFT Protocol will work with Filecoin to build the FIL ecosystem.
About FVM
As we all know, FVM will launch its mainnet on March 14th. The mainnet will officially obtain EVM virtual machine compatibility through the Filecoin nv18 Hygge upgrade and become a Layer 0 public chain that integrates data storage, smart contract deployment, and dApp development.
It is also expected that the launch of FVM will completely alter Filecoin’s valuation model. Before FVM, Filecoin was valued at the upper limit of storage capacity and was faced with competition from many storage projects at the same time. The double superposition of the public chain can help FIL release more potential after FVM since the valuation model of FIL is storage.
As a result of the launch of FVM, the FIL ecosystem will be enhanced with Defi, NFT, and DAO based on FIL, and more usage scenarios of FIL will be added.
SFT Protocol: What it will do
The SFT protocol is based on the Substrate architecture, cross-chain communication, and modular underlying application public chain, to solve those assets that are locked by the stake in the medium and long term and cannot flow: such as FIL, DOT, ETH2.0, etc., providing a kind of decentralization Protocol that enables locked assets to circulate freely.
The goal of the SFT protocol is to build a liquidity mining pool on Filecoin and realize sustainable computing power income. In this way, FIL holders will have a stronger ability to resist market fluctuations, more flexible participation methods, and achieve investment income maximization.
Application of SFT in FVM
Since the launch of Filecoin in 2020, there has been a surge in community consensus. Mining FIL requires miners to stake coins and pay GAS fees, with rewards distributed through a linear release mechanism. This can undermine the liquidity of FIL and leave miners vulnerable to market fluctuations while lacking any anti-risk protection.
By staking their original public chain tokens and minting SFT tokens to provide liquidity, users can engage in SFT transactions, participate in pledge mining/liquidity mining, take part in DeFi lending, join DAO governance, develop NFT casting, deploy applications for public chain Node, make hardware infrastructure calls, etc. The SFT protocol facilitates the staking and redeeming of native tokens as well as deposit and withdrawal at any time — all activities are carried out by decentralized deployment of smart contracts and validation nodes.
SFT and FVM’s Future Prospects
1. The SFT protocol is compatible with mining pool hardware service providers
2. The SFT protocol fully participates in the FVM ecosystem
3. Various financial derivatives schemes of SFT protocol in Filecoin
4. SFT protocol participates in the construction of Web3.0 and Metaverse
5. The SFT protocol offline and physical hardware service providers jointly promote the construction of hardware infrastructure.
Currently, Filecoin is the first public chain network supported by the SFT protocol. The SFT protocol will start with Filecoin and gradually expand its development in liquidity support, DeFi applications, asset transactions, and node services.
The SFT protocol focuses on the integration of underlying technological innovation and the construction of basic hardware facilities, especially the development of the Filecoin public chain and the construction of large-scale hardware infrastructure, which will promote the construction of Filecoin public chain nodes, security, and ecological development.
The SFT protocol will also be extended to the physical field, providing users with safe and trustworthy blockchain infrastructure services such as Filecoin, deeply integrating the digital economy with the real economy, empowering a comprehensive upgrade of the real economy, and allowing all walks of life to find new development space.
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