Gemini is in the process of developing a Wrapped Filecoin (wFIL) service so that Filecoin (FIL) can be used on the Ethereum network.
We are looking to work with Ethereum developers interested in adding wFIL to their products, and platforms that would like to offer wFIL to their customers — if you’re interested, we want to hear from you!
This service will allow you to convert FIL in your Gemini account 1:1 into wFIL and withdraw it to any Ethereum address you specify. You will also be able to convert wFIL 1:1 into FIL in your Gemini account. All FIL will be held in our institutional grade storage system with full transparency so that you can always verify that the amount of FIL we hold is equal to the wFIL currently in circulation.
Filecoin is the native token of the Filecoin Network. You can use FIL to purchase storage space on, and retrieve your files (i.e., data) from, the Filecoin Network. Miners receive FIL for storing your files and verify their services via cryptographic proofs. This decentralized model offers a compelling alternative to existing centralized cloud storage offerings.
We welcome additional partners to the growing DeFi ecosystem. Please reach out to firstname.lastname@example.org if you want to join us and partner!
Onward and Upward,