In the Huobi ECO Chain environment there are many options for DeFi enthusiasts. FilDA is positioned as a leading lending and borrowing provider for DeFi users, and has chosen to partner with other HECO projects to increase the use-cases for FilDA tokens through LP staking, leveraging, and lending/borrowing/governance rewards.
As FilDA matures it is creating further opportunities for users to further utilise and control their cryptocurrency portfolio; be it for long-term investment, speculation, savings, spending, or more.
Here are a few details about what is currently being developed by the FilDA team:
- Flash loans
These are a form of uncollateralised borrowing in DeFi. Introduced for advanced users, Flash Loans enable instant and easy borrowing without collateral being required, provided that the liquidity is returned to the pool within the same transaction block.
If this fails to happen, the whole transaction is reversed. This simply undoes all the actions executed up to that point. The safety of the funds in the reserve pool is therefore guaranteed. Users can utilise flash loans for myriad functions such as arbitrage, collateral swapping, self-liquidation, and many more.
- Savings to repay loans
You may have deposited multiple assets on FilDA.io but now some of the prices of collateralised funds are working unfavourably for your borrowing position. Instead of injecting new capital, fiat or crypto, you will be able to repay your loan using different assets, instantly swapping and adding them to your existing collateral, reducing the risk of liquidation.
- Deposits conversion (example: BTC->ETH)
Having purchased an asset and chosen to place it in the safe and high-interest FilDA DeFi protocol, you may decide you wish to alter your portfolio allocations. Previously you would have had to withdraw your assets, go to an exchange, perform a swap and then return to FilDA to re-deposit the new cryptocurrency amounts.
With deposit-swap you can move your assets from one cryptocurrency to another without leaving FilDA.io. And because we use Chainlink oracles, the market price is always up to date, always accurate, and tamper-proof - prices cannot be adjusted locally.
- Third party markets
With a growing list of partners, FilDA is striving to provide multiple opportunities to use its native token for its users and holders. Rather than sending you to multiple websites, we are preparing an area where the different options are laid out for your selection.
The start of this can be seen at FilDA.io/staking where the Dogeswap and MDEX LP pools for FilDA tokens can now be found.
- Discounted services for FilDA holders
These are still being developed and we will reveal what they are in due course!
FilDA — Let your money work for you
