FilDA Platform Documentation
FilDA contains two protocols: Banking (Lending and Borrowing) and Staking The banking (lending and borrowing) protocol is a revision based on Compound and the staking protocol is one based on Harvest.
Introduction
FilDA is a lending and borrowing project basing on smart contracts to realise a cross-chain money market . It launched on HECO (Huobi ECO Chain) and is deployed on other public chains (IoTeX, Elastos Smart Chain, BNB Smart Chain, Polygon and Arbitrum One).
Unlike other lending and borrowing projects deployed on the Ethereum chain, we chose HECO as the base chain. We introduced the ecological resources and assets on Huobi and can make our service more user-friendly because of the accessibility of HECO and the extremely low gas fees. The same is true for the subsequent chain launches since our genesis on HECO.
Note
FILDA is the governance token of FilDA Protocol rather than a token with pure investment value.
The project team has 5 percent of the token share which will be released in blocks over 4 years. The team didn't receive any tokens in the first week after FilDA was launched. The token for the team was generated from the second week after FilDA went live.
Business Model
Basic Features
Liquidity pool
Interest rates are determined algorithmically by supply and demand
Floating interest rates that are non-negotiable
Absolutely transparent token balance information, complete records of all transactions and historical interest rates
Deposit
Aggregate the tokens of each user
Withdraw the assets at any time
Collect the accrued interest at any time
Primary Use Cases
Uses can supply their asset and earn interest at low risk
dApps, institutions and exchanges can gain incremental returns
Borrowing Tokens
Requires over-collateralisation
No time limit for borrowing
Risk
When the value of the borrowing assets is above the collateral ratio, the users' collateral should be liquidated at a price that is below the market price, which motivates the arbitrageurs to step in to eliminate the risk.
Primary User Cases
Quickly borrow utility tokens at any time without having to wait (time required to fill an token buy order on exchanges)
Users can conduct ICO investments by borrowing ETH using their existing portfolio (multiple tokens or assets) as collateral.
Short selling
Ledger System
Cash + Borrows = Supply + Equity
Follow international accounting standards:
Event
Debit
Credit
Supply Token
Cash
Supply
Withdraw Token
Supply
Cash
Borrow Token
Borrows
Cash
Repay borrows
Cash
Borrows
Liquidate (Borrower)
Supply (Collateral)
Borrows(Asset)
Liquidate ( Caller)
Cash(Asset)
Supply (Collateral)
Accrue Interest (Supply)
Equity
Supply
Accrue Interest (Loan)
Borrows
Equity
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