STFIL DAO is a decentralized autonomous organization that builds liquid staking for Filecoin, designed to be community owned, decentralized, trustless and compatible with staking in Filecoin. STFIL allows users to earn block rewards without locking assets or maintaining Storage Provider infrastructure.
In the Filecoin network, staking can improve the service quality of the entire network, and is the cornerstone of building a robust, stable, and well-experienced distributed storage network. Only then can it challenge the centralized storage market, and it can also well compensate for user losses. Compared with Bitcoin and other networks, Filecoin's PoSt consensus mechanism is also the key to providing stable storage, requiring Storage Providers to have more professional hardware equipment, more professional computer room sites, more professional operation and maintenance engineers, more stable power equipment, and more expensive The initial investment has created a high threshold for Filecoin Storage Provider, and only companies or teams that can earn everyone's funds and resources can participate.
The STFIL liquid pledge protocol is a Filecoin liquid pledge protocol that addresses these shortcomings. Users (Asset) can deposit their FIL into the STFIL smart contract and obtain a token stFIL that pledges FIL, which is used to obtain rewards from the Filecoin Storage Provider. Storage providers (SP) can pledge their nodes to obtain the liquidity of the pledged FIL in the node, obtain the qualification to loan FIL to STFIL, and use more operation and maintenance in exchange for greater mining revenue. A smart contract controlled by the DAO then stakes the tokens with a storage provider chosen by the DAO. Funds deposited by users are controlled by the DAO, and storage providers never have direct access to users' assets.
Unstaked FIL, stFIL tokens are not subject to illiquidity and can be transferred at any time. The stFIL token balance will be calculated based on the total amount of FIL staked, plus rewards and less any penalties.
STFIL is a more flexible solution than existing ones, allowing users to provide an unlimited amount of FIL and earn rewards for as small a deposit as they want. STFIL only charges 3% of the Filecoin node reward (this is regulated by DAO), and the number of FIL pledged by STFIL and stFIL issued is completely open, transparent, auditable, and managed by the private key of DAO's multi-signature wallet. Any unilateral control, is a decentralized method of liquid staking.
Looking at the current encrypted digital and DeFi industry, although Lido and Rocket Pool will tell the same story, they only serve the world outside of Filecoin. On the eve of the release of Filecoin Virtual Machine (FVM), our team is fully prepared. STFIL has no competitors, our business is also an integral part of the Filecoin ecosystem and will receive widespread attention.