Since making an all-time high at about $237, Filecoin (FIL) token has lost tons of its value and is currently down 89%. As of writing, the FIL token is trading at around a mere $25.
It was only in two months that FIL price rallied almost 1,000% to ATH. But now, it’s been a year that the token has been experiencing a drawdown, making it hard to make money speculating.
But a great way to weather this market is through our cloud mining power service platform, Filet Finance. We have deployed decentralized mining activity on several blockchains, viz. Binance Smart Chain (BSC), HECO smart chain (Heco), Filecoin (FIL), and Mixin (XIN).
We have introduced a solution for Filecoin users by tokenizing Filecoin mining power and integrating it into the decentralized finance (DeFi) ecosystem. Besides, we also offer FIL holders risk-free and high-growth FIL staking services with annualized FIL returns as high as 30% if you choose 360-day fixed period staking.
If you are wondering why you should be choosing the Filet protocol instead of using the traditional Filecoin mining, the most obvious answer is a low cost of entry and not requiring the technical know-how.
If you mine Filecoin with Filet, you don’t need to invest in expensive machines or take into consideration all the things like gas fee, packaging speed, pledge coins, mining service cycle, and the machine performance when purchasing the said mining machine.
Long story short, we make mining Filecoin pretty easy, straightforward, and trouble-free. The only thing you need to begin mining is FIL tokens. The idea behind Filet Finance is ‘Stake FIL to mine FIL.’
Who is Filet for?
Decentralized storage is still in its early days, but the Filecoin ecosystem, built on top of the Interplanetary File System (IPFS), continues to expand to more than 300 projects. It actually has the largest market share in used storage and network capacity. Moreover, various use cases have emerged, including NFTs, Web3, gaming, metaverse, and audio/video.
With Filecoin aiming to offer the foundation for data-intensive Web3 services, it makes sense that you would be optimistic about the project’s future.
So, suppose you bought a FIL token because you are optimistic about Filecoin positioning itself to become the backbone of the decentralized web by successfully onboarding different use cases. In that case, Filet Finance is a perfect opportunity for you to make money through your FIL tokens without actually selling them.
Filecoin staking via Filet Finance is also an excellent opportunity for those users who bought the top in April last year and are now waiting for the prices to recover. While waiting for the cryptocurrency market to recover from its downtrend and the decentralized storage market to gain traction, you can lock your tokens in the protocol and earn rewards.
This allows you to grow your FIL stack substantially without exposing your capital to market conditions, but you also get prepared for the next bull run or the Filecoin narrative to pump your bags. You may even get the chance to sell the next top. Interestingly, you don’t even need capital to buy the dips. Instead, keep staking your FIL coins on Filet and earn rewards.
Besides speculators who got trapped, Filet Finance is also for conservative investors looking for stable returns. Our risk-free service can get you rewards up to 30% on 360-day fixed period staking, which is much higher than other DeFi projects. In addition, when you go for a flexible staking period, you can withdraw your staked FIL at any time from Filet.
So, you get your passive income, a fixed rate of interest determined periodically by an algorithm in the protocol, while unaffected by the downturns.