Filet x Poly Network Partnership
Filet and Poly Network established a strategic partnership and will make joint effort to accelerate Filecoin mining power’s cross-chain circulation.
On July 14th, Filet, the Filecoin tokenized mining power platform, and Poly Network, the cross-chain interoperability protocol for heterogeneous chains, established a strategic partnership. The two sides will conduct in-depth cooperation in cross-chain and provide better user experience. This cross-chain is mainly for FILE which is issued by Filet. Each FILE corresponds to real Filecoin mining power, that is to say, it is the FILE that allows Filecoin mining power to be on the chain.
Through this cooperation, FILE can not only be traded on the chain, but also be freely transferred and circulated among the Heco, BSC and Ether without other tools or channels, which is greatly convenient for users to redeem FILE and facilitates the wider circulation of FILE.
What is Filet?
Filet is a mining platform for the tokenization of Filecoin mining power. Filet tokenizes the Filecoin mining power owned by the mining pool by issuing FILE. Users can stake FIL or other tokens, or pay USDT (HUSD), to get the Filecoin cloud mining power. Therefore, users can continuously obtain mining output from FIL.
If a user chooses to stake FIL to obtain mining power, after the expiration, the user can choose to redeem all the staked FIL without any loss of assets. The user can also choose to redeem FILE mining power tokens issued by Filet. Each FILE corresponds to the mining power of the platform, which has real value and can be used for users to continue to stake mining or sell in the market to make the mining power circulate.
The launch of Filet platform further reduces the threshold of Filecoin mining, truly allowing users to realize zero cost and zero risk for Filecoin mining. At the same time, it makes Filecoin mining power circulate freely.
What is Poly Network?
Poly Network is the most implementable cross-chain interoperability protocol for heterogeneous chains in the current market. Following the mainnet launch in August 2020, it has realized the interoperability of 10 mainstream heterogeneous blockchains including Bitcoin, Ether, Neo, Ontology, Heco, BSC, OKExChain, etc. It has completed over $4.4 billion of cross-chain asset transfers and has over 110,000 addresses using its cross-chain service.
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