Paradigm

The platform allows users to stake their FIL. This FIL is then in a common liquidity pool that gets used to lend to certain SPs.

However, the SPs have to provide a collateral against the loan they want to avail a loan.

Nonetheless, the storage provider's eligibility is calculated as per the power they have [power is the maximum computation speed and storage capacity]. More the power, more the reputation points and thus, eligibility for a higher amount of a loan.

To check their eligibility, a storage provider has to simply just connect their wallet with the platform and check. Their credit score shows with regards to how much FIL they can avail.

Consequently, the collateral to be paid by the borrower is essential and if they fail to repay the loan, the ownership of the collateral is transferred to the lender (paradigm)

Get more fIL to expand infrastructure Increase storage capacity Increase credit score

The platform is built with a decentralized architecture that leverages blockchain technology and smart contracts to enable secure and transparent transactions between users. The platform allows users to stake their FIL, which is then added to a common liquidity pool used to lend to selected storage providers (SPs). To be eligible for a loan, the SPs have to demonstrate their computing power and storage capacity. The more power they have, the higher their reputation points and eligibility for a larger loan. This is calculated by the platform's algorithms based on the power and storage capacity of the SPs. To check their eligibility, the SPs simply need to connect their wallet with the platform and check their credit score. The credit score shows how much FIL they can avail as a loan. The loan amount is determined by the platform's algorithms, taking into account the collateral provided by the SPs. If the SPs fail to repay the loan, the ownership of the collateral is transferred to the lender (the platform). This mechanism provides security to the lender and ensures that the loan is repaid on time. The platform's design aims to help SPs expand their infrastructure, increase their storage capacity, and increase their credit score. This creates a virtuous cycle that benefits both the SPs and the platform, promoting the growth of the decentralized storage ecosystem.