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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