Welcome to the journey of FILLiquid. We've been on a long road to reaching where we are today.
We've outlined everything completed so far and what's to come so you're fully up-to-date regarding our progress.
2022 Q4
Conducted preliminary research on the Filecoion consensus and rewarding mechanisms. Identified bottlenecks in the Filecoion network and recognized the demand for DeFi projects leveraging the newly launched FVM virtual machine.
Consulted with stakeholders, industry experts, and the existing lending protocols to formulate the FILLiquid concept design and outline potential challenges.
Developed basic functions, including bind minerID, stake, redeem, borrow and pay. Outlined concept design for borrowing interest rate model and LSD token redemption mechanism.
2023 Q1
Awarded the DeFi Rocket 🚀 Prize during the ETH Global FVM Space Warp Hackathonarrow-up-right.
I became a member of the Filcoin DeFi protocol working group and was invited to present at both FIL Hong Kong DeFi and Venus sessions. We also attended FIL HK social events and formed an early community.
Launched introductory websites and social media platforms.
2023 Q2
Performed data analysis on the interest rates and the utilization rates of both centralized and decentralized lending platforms as well as Filecoion mining yield, constructed a dynamic, programmable, and algorithm-based borrowing interest rate model.
Studied the Filecoin consensus, rewarding mechanism, and FIP-0029arrow-up-right, the proposal on Beneficiary Address, and designed a model to determine the credit limit.
Crafted an LSD token redemption model to allocate the interest income yield proportionally among lenders. The model secures the system by making deposits more attractive and redemption less favorable when capital is heavily utilized.
Drafted White Paper and developed FILLiquid, FILstake, and FILTrust(FIT) smart contracts
2023 Q3
Designed Liquidation, Debt loss, and other Risk Management mechanisms. Introduced the concept of Family Miners to enable new miners to leverage the collective collateral of their associated Family Miners and participate in borrowing
Engineered tokenomics Constructed and Half-life integral Governance token emission models for Stakers and Borrowers to incentivize staking while ensuring economic robustness.
Outlined the Governance process, including proposal, deposit, voting, approval and execution.
Drafted White Paper and developed FILLiquid and $FIG smart contracts.
2023 Q4
Conducted internal testing and invited DeFi professionals to perform stress tests. Analyzed test data, diagnosed the programs and reshaped the model design.
Executed front-end development, designed UI/UX interfaces, and accomplished DApp development.
Initiated community operations across multiple countries, fostered community development and cultivated strategic partnerships.
What's Currently ongoing:
2024 Q1
Prototype deployment on testnet
Public testing
2024 Q2
Contract audit by the third party
Security and Audit: Conduct comprehensive security audits to ensure stability and security post-mainnet launch.
Governance design and community engagement
More utility scenarios for FIG added
Deployment on Filecoin mainnet
DAO formulation and Governance becoming fully functional
What's to come:
Optimize the SP lending interaction process on the dashboard, add announcement and banner features, and enhance the dApp's notification system.
Launch the FIG Staking product: Aimed at helping FIG holders earn more returns through revenue sharing and token-burning features.
Complete UI/UX Overhaul for Website and Dapp: Update website content sections and add features like blogs, data analytics, and more.
Cross-Chain Compatibility: Explore interoperability with other blockchain networks to achieve broader asset liquidity and functional interoperability.
Community Building: Expand the community and encourage developer and user participation, possibly through incentive programs, events, and building a social media presence.
Partnerships: Seek more partnerships with other DEFI projects, traditional financial
More utilization scenarios for $FIG added
Launch the initial $FIG DEX listing
Feature Expansion: Continue to introduce new features and products to enhance the platform's attractiveness and competitiveness.
User Experience Improvements: Continuously optimize the user interface and experience, lowering barriers to entry and attracting more non-crypto professionals into the DEFI space.
Global Expansion: Promote and market globally, especially in emerging markets and regions with weaker traditional financial systems.
Community Governance: Implement more decentralized community governance models, allowing community members to participate in project decision-making and development.
Research and Development: Continue research and development efforts, stay sensitive to industry trends, and continually introduce innovative products and solutions.
Regulatory Compliance: Monitor legal and regulatory changes worldwide to ensure compliant operations and avoid potential legal risks.
