Filecoin Lending with Anchorage Digital
Core to our mission as a regulated financial platform and infrastructure provider for crypto, is enabling blockchains to grow. Our commitment to the Filecoin network is no exception, as we’ve successfully supported custody for Filecoin (FIL) since its mainnet launch in Summer 2020.
Now, Anchorage is excited to announce a new lending program within the Filecoin network to further grow the network and allow institutional FIL holders the ability to earn high yields on their holdings.
What is Filecoin (FIL)?
Filecoin was created to decentralize secure data storage and open web access to billions of people around the world by addressing data sovereignty, privacy, and security controls.
With the growth of digitization and the internet, the amount of information data continues to grow exponentially in our personal and professional lives. The vast majority of this information is stored and controlled by a small number of centralized entities. As data continues to be a cornerstone of our lives, Filecoin’s mission is to create a decentralized, open market storage network.
The role of storage providers
“Anchorage has been an incredible partner even prior to our mainnet launch. This new lending program provides Storage Providers access to more FIL so they have the ability to take advantage of the 10x block rewards when storing useful data. For Filecoin holders it is a unique way to earn double-digit rewards while powering the growth of a larger decentralized network. A win-win for both ecosystems.”
—Stefaan Vervaet, Protocol Labs
Anchorage’s lending program provides Filecoin to Storage Providers on the network. These are the nodes that store data. For a Storage Provider to operate on the Filecoin network, they must purchase and operate storage equipment while also posting Filecoin as collateral. As a result, the capital requirement for Storage Providers is high, and Anchorage helps more providers participate through our lending facilities.
Anchorage is also the financing partner for the Filecoin Storage Provider Accelerator (ESPA), which is a 7-month intensive program that teaches storage providers how to operate in Filecoin.
Our Filecoin lending program allows Storage Providers to expand their operations in a capital efficient manner, supporting the growth of the network. Anchorage will lend to creditworthy providers across the globe seeking at least 100,000 Filecoin.
For Filecoin holders
Institutional Filecoin holders can also participate in Anchorage’s lending program. As a lender in the program, you’ll be able to earn one of the highest Filecoin yields on the market. For more information, both Storage Providers and Filecoin holders can contact firstname.lastname@example.org.
Anchorage is proud to support the growth of the digital asset space and will continue to find new ways to partner with blockchains that create decentralized services.
This post is intended for informational purposes only. It is not to be construed as and does not constitute an offer to sell or a solicitation of an offer to purchase any securities in Anchor Labs, Inc., or any of its subsidiaries, and should not be relied upon to make any investment decisions. Furthermore, nothing within this announcement is intended to provide tax, legal, or investment advice and its contents should not be construed as a recommendation to buy, sell, or hold any security or digital asset or to engage in any transaction therein.