FIT Token

📌 What is the FIT (Filecoin Trust) Token?

The FIT token is the Liquid Staking Derivative (LSD) token of the Filliquid protocol, serving as proof of equity for users who deposit Filecoin (FIL). When users stake FIL, the smart contract mints FIT based on the real-time exchange rate as on-chain evidence of the deposited FIL.

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1️⃣ Key Features of the FIT Token

✔️ Proof of FIL Staking (Proof of Equity)

• When users deposit FIL, the smart contract mints FIT in real time based on the exchange rate.

• Holding FIT is proof of FIL staking on the Filliquid protocol.

✔️ Profit Distribution & Rewards

• FIT holders earn FIL staking interest as part of the profit distribution mechanism.

• Users can also stake FIT in farming pools to receive additional FIG token rewards.

✔️ Redemption Key for FIL Withdrawal

• FIT acts as an on-chain receipt and key for unstaking FIL.

• When users unstake FIT, the tokens are burned, and FIL is released back to the user.

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2️⃣ How to Use FIT

✅ Farming & Staking → Stake FIT to earn FIG token rewards. ✅ FIL Staking Interest → Earn passive income from FIL deposits. ✅ Unstaking & FIL Withdrawal → FIT is burned upon unstaking, and FIL is returned to the user.

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📌 Summary

• FIT = Proof of FIL staking + Redemption key for FIL withdrawals

• Minted by a smart contract based on real-time exchange rates

• Used for staking rewards, profit distribution, and FIG farming

• When unstaked, FIT is permanently burned

FIT is more than just a staking receipt—it plays a key role in improving liquidity and efficiency in the Filecoin ecosystem!