Secured Finance Launches USD Stablecoin in Filecoin Ecosystem
Secured Finance is introducing a US dollar-dominated stablecoin within the Filecoin ecosystem, offering added flexibility and financialization for users. According to recent research by 10x Research, the stablecoin’s impact is expected to mirror DAI’s impact on Ethereum’s DeFi markets.
Benefits of the Stablecoin
- Increased user adoption from an on-chain reserve stablecoin
- Enhanced liquidity and stability by eliminating the need to transact in FIL
- Opportunities for loop trading, carry trades, and fixed-income instruments within Filecoin’s ecosystem
New research by 10X Research has highlighted the significant benefits of a US Dollar-denominated stablecoin being launched within the Filecoin ecosystem. Filecoin, a rapidly growing platform in Web3, offers a vast amount of untapped value on its decentralised file storage network.
Impact on Filecoin Ecosystem
With support from foundations and ecosystem partners, the need for a publicly open lending market and a liquid on-chain Dollar source is becoming more apparent. As the data stored on the protocol powers the AI revolution, the stablecoin is expected to open up expanded possibilities within the ecosystem.
Secured Finance is set to release USDFC, a stablecoin overcollateralised and pegged to the value of FIL in USD, filling the role described in the research report. The CEO of Secured Finance, Masa Kikuchi, believes that enabling ecosystem participants to transact in US Dollars will drive innovation and adoption within the Filecoin platform.
Comparison to Maker Dao’s DAI Token
The impact of Maker Dao’s DAI token on Ethereum’s DeFi markets serves as a benchmark for the potential trajectory-altering outcome of the USDFC stablecoin on the Filecoin ecosystem. The growth of ETH tokens backing DAI demonstrates the potential for a similar impact on Filecoin.
About Secured Finance
Secured Finance is revolutionizing fixed-income with on-chain orderbook lending & bond issuance and FIL-backed stablecoin, USDFC. Powered by smart contracts, the platform offers transparent, low-cost, fixed-rate lending and financial inclusion in DeFi 2.0.
About 10X Research
10x Research is a leading digital asset research firm providing institutional-grade crypto market insights, trading signals, investment strategies, and fundamental analysis. With a focus on quantitative analysis and macro trends, the firm helps clients make informed decisions in the fast-moving crypto space.
