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Since 2022, MFIL has been conducting long-term trial operations on EVM through cross-chain bridges and other methods. The platform has combined the relatively mature LSD (Liquid Staging Derivatives) in the blockchain industry with the unique rules and mechanisms of the Filecoin ecosystem. This has brought considerable benefits to SP and FIL holders, fully verifying MFIL's technical capabilities and business model credibility.
MFIL can better integrate resources within the ecosystem, solve problems such as original information opacity, low resource allocation efficiency, and low asset liquidity, and achieve a win-win situation for all parties.
Through MFIL’s smart contracts, SP nodes that have been encapsulated can be cast into a freely tradable liquidity token "MFIL", allowing good liquidity for nodes that originally needed to be pledged for about 540 days. Therefore MFIL provides a better user experience and better solves the aforementioned Filecoin ecological problems.
By using MFIL, SP will not be unable to start data encapsulation due to difficulty in obtaining pledge currency, nor will it encounter liquidity difficulties due to having pledged a large number of FIL in the node. For FIL holders, there is no need to seek an SP for "joint mining" when using MFIL. Instead, users can stake MFIL by FIL to earn the APR revenue generated in the node. This means that FIL holders can find a suitable way to appreciate their assets without having to hold a large number of FIL. Additionally, they will not be exploited by centralized financial institutions for most of the mining output income.
In addition, the operation and governance of MFIL is completely based on DAO, with open and transparent rules. Also, the circulation of all assets is conducted by smart contracts and authoritative third-party asset management institutions, and is subject to the supervision of all community members. Meanwhile, MFIL's smart contracts have been audited by third-party security teams;The entire MFIL DAO has a good cooperative relationship with all participants in the Filecoin ecosystem rather than competition, and maintains long-term and close cooperation with the PL team. All community members in the DAO (such as SP community, developer community, ecological development community, etc.) are excellent practitioners who are familiar with the Filecoin ecosystem.