FILend

Storage providers (SPs) have to post collateral (in FIL) to onboard storage capacity to the network, and to accept storage deals. This collateral incentivises the storage provider to behave correctly, by presenting timely proofs of health of the data (PoRep, PoSt <>), or they risk getting slashed.

While important, the need to pledge collateral creates friction and an immediate barrier that throttles SP participation and growth. On the other hand, the Filecoin network has a large base of long-term token holders that would like to see the network grow, and are willing to lend their FIL to reputable and growth-oriented SPs.

We made it by simple lending/borrowing logic as we made for the Ethereum network. We used solidity on remix IDE and deployed it on the wallaby testnet. We used React Vite as a frontend. We have following function Lending order: Here we can lend the FIL or ETH to earn interest Borrow request: Here we can borrow the FIL or ETH. Loan payback : Here we can Payback the borrowed loan. Withdraw : Here we can Withdraw the lended money