renFIL and wFIL are ERC-20 tokens on Ethereum, both backed 1:1 by Filecoin (FIL). renFIL was launched by the Ren project (https://renproject.io/) in collaboration with ConsenSys Codefi (https://bridge.codefi.network) and wFIL was launched by Wrapped (https://www.wrapped.com/). renFIL is secured by RenVM, which is transitioning into a decentralized network, while wFIL is secured by a centralized qualified custodian, and hence both cater to different market actors.
We are proposing to launch a new pool containing both of these assets (renFIL/wFIL).
Filecoin has been one of the largest network launches of the year, and tokenized FIL can enable all types of new applications in DeFi as illustrated by the recent Filecoin+EthGlobal hackathon. Liquidity and price parity is a crucial step to catalyze these applications, which is why a Curve pool makes sense.
- Bring a new kind asset to Curve that is not representing USD or BTC, diversifying the kinds of assets you can trade on Curve
- Help kickstart FIL’s presence on Ethereum
- Both renFIL (https://etherscan.io/token/0xD5147bc8e386d91Cc5DBE72099DAC6C9b99276F5) and wFIL (https://etherscan.io/token/0x6e1A19F235bE7ED8E3369eF73b196C07257494DE) currently have low (growing) liquidity.