New research by 10X Research has revealed the massive benefits on offer to users of a U.S. Dollar-denominated stablecoin being launched within the Filecoin ecosystem. Filecoin is among the most rapidly-growing platforms in Web3, and there is a massive amount of untapped value on the decentralised file storage network waiting to be unlocked. Between high-level support from a number of foundations and an ever-growing list of ecosystem partners, the importance of a publicly open, peer-built lending market and a liquid source of on-chain Dollars is becoming apparent with each passing day, especially as the data stored on the protocol increasingly becomes the fuel powering the AI revolution. Among the 10x research report’s main findings, it is believed that such a coin would bring expanded possibilities similar to how DAI impacted Ethereum’s DeFi markets. These benefits include but are not limited to: Increased user adoption from an on-chain reserve stablecoin would make Filecoin’s platform more accessible to a wider audience of users Enhanced liquidity and stability by eliminating the need for users to transact in FIL A universe of opportunity by being able to leverage loop trading, carry trades, and fixed-income instruments within Filecoin’s ecosystem Secured Finance has been contributing to the Filecoin ecosystem to bring to market USDFC, a product that would largely fill the role described above. This stablecoin would be over-collateralised and pegged to the value of FIL - in USD. “We believe that the Filecoin ecosystem is ripe for further innovation and adoption,” said Masa Kikuchi, CEO at Secured Finance. “By enabling ecosystem participants to transact in U.S. Dollars, a whole new world of optionality opens up and should enable more rapid growth of the overall platform.” By comparison, the amount of ETH tokens backing Maker Dao’s DAI token grew to more than seven billion dollars within two years of launch, and currently stands at several billions. A similar impact to the Filecoin ecosystem would be a trajectory altering outcome for the project. To learn more about USDFC or Secured Finance, please visit http://secured.finance; or follow Secured Finance on X at https://www.x.com/Secured_Fi. About Secured Finance Secured Finance revolutionizes fixed-income with on-chain orderbook lending & bond issuance and FIL-backed stablecoin, USDFC. Powered by smart contracts, our platform delivers transparent, low-cost fixed-rate lending and true financial inclusion in DeFi 2.0. About 10X Research 10x Research is a leading digital asset research firm delivering institutional-grade crypto market insights, trading signals, investment strategies, and fundamental analysis for digital assets. With a focus on quantitative analysis, macro trends, and systematic trading models, 10x Research helps clients make informed decisions in the fast-moving crypto space. This story was distributed as a release by Btcwire under HackerNoon’s Business Blogging Program. Learn more about the program here New research by 10X Research has revealed the massive benefits on offer to users of a U.S. Dollar-denominated stablecoin being launched within the Filecoin ecosystem. Filecoin is among the most rapidly-growing platforms in Web3, and there is a massive amount of untapped value on the decentralised file storage network waiting to be unlocked. Between high-level support from a number of foundations and an ever-growing list of ecosystem partners, the importance of a publicly open, peer-built lending market and a liquid source of on-chain Dollars is becoming apparent with each passing day, especially as the data stored on the protocol increasingly becomes the fuel powering the AI revolution. Among the 10x research report’s main findings , it is believed that such a coin would bring expanded possibilities similar to how DAI impacted Ethereum’s DeFi markets. 10x research report’s main findings 10x research report’s main findings These benefits include but are not limited to: Increased user adoption from an on-chain reserve stablecoin would make Filecoin’s platform more accessible to a wider audience of users Enhanced liquidity and stability by eliminating the need for users to transact in FIL A universe of opportunity by being able to leverage loop trading, carry trades, and fixed-income instruments within Filecoin’s ecosystem Increased user adoption from an on-chain reserve stablecoin would make Filecoin’s platform more accessible to a wider audience of users Enhanced liquidity and stability by eliminating the need for users to transact in FIL A universe of opportunity by being able to leverage loop trading, carry trades, and fixed-income instruments within Filecoin’s ecosystem Secured Finance has been contributing to the Filecoin ecosystem to bring to market USDFC, a product that would largely fill the role described above. This stablecoin would be over-collateralised and pegged to the value of FIL - in USD. “We believe that the Filecoin ecosystem is ripe for further innovation and adoption,” said Masa Kikuchi, CEO at Secured Finance. “By enabling ecosystem participants to transact in U.S. Dollars, a whole new world of optionality opens up and should enable more rapid growth of the overall platform.” By comparison, the amount of ETH tokens backing Maker Dao’s DAI token grew to more than seven billion dollars within two years of launch, and currently stands at several billions. A similar impact to the Filecoin ecosystem would be a trajectory altering outcome for the project. grew grew To learn more about USDFC or Secured Finance, please visit http://secured.finance ; or follow Secured Finance on X at https://www.x.com/Secured_Fi . http://secured.finance http://secured.finance https://www.x.com/Secured_Fi https://www.x.com/Secured_Fi About Secured Finance Secured Finance revolutionizes fixed-income with on-chain orderbook lending & bond issuance and FIL-backed stablecoin, USDFC. Powered by smart contracts, our platform delivers transparent, low-cost fixed-rate lending and true financial inclusion in DeFi 2.0. About 10X Research 10x Research is a leading digital asset research firm delivering institutional-grade crypto market insights, trading signals, investment strategies, and fundamental analysis for digital assets. With a focus on quantitative analysis, macro trends, and systematic trading models, 10x Research helps clients make informed decisions in the fast-moving crypto space. This story was distributed as a release by Btcwire under HackerNoon’s Business Blogging Program. Learn more about the program here This story was distributed as a release by Btcwire under HackerNoon’s Business Blogging Program. Learn more about the program here here here
