MFil

FIL token holders do not need to lock their assets or participate in maintaining the node infrastructure. They only need to store FIL in MFIL smart contracts and convert FIL to MFIL at a ratio of approximately 1:1 through MFIL/FIL trading pairs to achieve APR rate growth on MFIL. MFIL revenue comes from the node's future mining revenue, and all MFIL tokens are 100% backed by the pledged tokens in the storage provider's node. MFIL can be traded, deposited, exchanged, and withdrawn freely, which provides great advantages and liquidity compared to traditional loan and mining activities. The flow of MFIL revenue is calculated and allocated by the smart contract and transferred through the beneficiary's address, and all accounts are public, transparent, and traceable on the chain.

For storage providers, MFIL solves the liquidity problem caused by their inability to withdraw FIL during the pledge period. They can join the MFIL contract and pledge their nodes to mint a certain amount of MFIL that matches a certain percentage of the FIL pledged in the nodes. Through a smart contract, the storage provider and the MFIL user will share a certain percentage of the future mining reward proceeds of the node.

MFIL significantly lowers the communication barrier between FIL holders and storage providers, bringing unprecedented liquidity to the Filecoin marketplace and achieving a win-win situation for storage providers and FIL holders. It also stimulates further growth of the Filecoin network storage by increasing FIL liquidity and reducing storage costs, helping the Filecoin FVM ecosystem to flourish.

Our project consists of three contracts for the main functions: MStaker, MNFT, and MFIL. MNFT implements the ERC-721 protocol, and MFIL is a token that implements the ERC20 protocol. MSTAKER contracts provide users with the ability to pledge MFIL for revenue and unpledge MFIL for return.

Our project applies technologies such as the hardhat development framework, ethers library for front-end development, and the Vue framework, etc. Additionally, our project simplifies the calculation of Filecoin interest, enhances the liquidity of FIL, and avoids over-issuance of MFIL by separating returns calculation while maintaining the absolute strong anchoring of MFIL and FIL.