What is the Staking of Filet?

The Filet protocol is a decentralized mining activity deployed on the BNB chain and HECO chain. Filet efficiently tokenizes Filecoin mining power and introduces it into the DeFi ecosystem by offering FIL holders risk-free and high-growth FIL staking services. As a result, the annualized FIL return is as high as 30%. 

So how exactly does Filet work? First, you need to understand the basic conditions of Filecoin mining. First, you need hardware facilities such as IDCs or mining machines. Second, you need professional operation and maintenance. Third, you need a certain number of tokens for staking. For ordinary investors, the price of hardware is out of reach, not to mention professional operation and maintenance. Only professional mining service providers can fully meet these requirements. Even so, mining service providers still need a large number of tokens for staking to expand their service, which is also a big challenge.

Considering the high barrier that is turning ordinary investors away and the problem of token staking, Filet launched to connect global high-quality mining service providers with ordinary investors, so that mining service providers can gather the idle FIL from the market. Investors can use the FIL they have for mining. Filet is playing the role of gathering the idle FIL in the hands of ordinary investors and providing them to mining service providers as the tokens for staking in Filecoin, and at the same time distributing mining service providers’ mining power to ordinary investors, so that they can also participate in Filecoin mining. With the help of Filet, mining service providers can expand the scale of mining with idle FIL in the market, and users can join Filecoin mining without any additional investment.

As a unique decentralized storage system, Filecoin has taken advantage of the growing popularity of cloud mining platforms and created an open market for file storage. The protocol is highly bankable at the moment, thanks to its decentralized data storage marketplace that makes the web more secure and efficient. 

Ordinary FIL investors can get a piece of the pie by participating in Filecoin mining through Filet’s decentralized cloud mining platform for a risk-free, high return, and low entry barrier experience. Moreover, Filet also opens doors for regular investors to seize the dividends of Filecoin. As a result, the platform became one of the best choices for a stable investment in cryptocurrencies, with over 90,000 FIL staked on Filet.

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