ONTO Wallet and FilDA AMA

7 min readJun 7, 2022

7th June 2022 — AMA Transcription


Could you please explain what FilDA is?

Super quickly — DeFi Lending and Borrowing!

In more depth?

FilDA is a Web3.0 asset bank, which was launched on January 5, 2021. Since launching last year, FilDA has created over 20 million USD of interest income for deposit users, and the peak value of total deposits and loans exceeded 2.1 billion US dollars.

FilDA is a very simple way that allows everyone to participate in a DeFi protocol that promotes ecological prosperity and shares the fruits of ecological development by simply depositing and borrowing.

Lending is a lower risk yield opportunity for DeFi users. And borrowing allows for broader strategies to be employed in DeFi.

What are the innovative features of FilDA Finance, in comparison to the projects in the same market segment?

Thinking about IoTeX here, but the same tenets exist for all chains we support…

With such a pleasing start on IoTeX our next target is working to empower tokens and projects on-chain and help users capture more value.

This is the core purpose of FilDA, and it is also the part that we will focus on improving in FilDA 2.0. Specifically, in 2.0 we have made the following improvements:

1. In FilDA 2.0, we will start multi-chain deployment and operation. This aspect is to expand the user base, actual platform usage, and it can also help FilDA become a true cross-chain network bank.

When the multi-chain operation is completed, we will introduce FilDA 2.1, which is ready to support cross-chain lending. Users can deposit money on one chain and borrow/withdraw money on another chain, just like you can withdraw money from any ATM in the world!

It’s a lofty goal, and one that must be carefully built. And now is a great time to build.

2. Adopt the PCV token model on all FilDA chains with FILDA token, and use 25% of the protocol revenue to form LPs to provide long-term liquidity support for $FILDA.

This is live on HECO already, and we will move to improving the protocol controlled liquidity on all chains with $FILDA.

3. We will add a credit lending interface to support unsecured lending.

For DeFi protocols with secure funds, a certain loan amount can be granted to them, so that they can borrow without providing collateral. For example, with the Alpha leveraged loan protocol built into FilDA 2.0, users can borrow unsecured loans from FilDA through the leveraged loan protocol, and then use DEX pools to mine for higher returns.

While deposited funds remain within FilDA, they remain safe.

This has been introduced to Arbitrum FilDA so far. More to come!

4. Add more loan parameter configuration options, such as loan limit, allocation of deposit and loan token rewards, security factor of loan assets, etc., which allows FilDA to provide loan services for more asset types.

5. Support a variety of synthetic assets as collateral. First, DEX’s LPs will be supported as collateral, which releases liquidity for LP users, who can mortgage LP to borrow more assets for further earning potential.

Liquidity is imperative to other projects, and liquid assets are important to DeFi users. By lending LP tokens, FilDA users can earn yield on their depositis whilst also freeing assets for further DeFi opportunities.

6. From the security level, in the face of seemingly endless attack events, we have added time lock and multi-signature management in FilDA 2.0. When the protocol is more mature, the authority will be handed over to DAO for governance.

At the same time, we are also cooperating with auditing companies such as Paidun to monitor our protocol’s security mechanisms, providing reassurances as to fund safety.

Segment 2 Selected Twitter Questions/Prepared Questions

Blockchain technology is being utilized in many different aspects, data and asset security are important. How does #FilDAFinance protect its platform and how to ensure users’ data security?


This is a very important question, and users must clearly understand the risks behind their actions. As the operation team of the project, we also try our best to reduce user risk.

1.FilDA has been audited by at least 5 security companies

2.More than 1.5 billion TVL at the peak of the market means we withstood the market test!

3.The FilDA protocol itself does not have a direct withdrawal function for third parties, and even administrators cannot withdraw vault assets

4.The team uses a multi-signature wallet to manage the protocol administrator account, and also adds a time lock. Any operation needs to wait before it can be executed after time, which gives users the opportunity to leave early before any dangerous operation.

What is the main utilities of your native token $FILDA? and how is FILDA liquidity supported? I heard @FilDAFinance is working on new model of tokenomics? What revolutionary init that can boost Project’s Growth?


This is a cool question. And I’m excited to share the answer…

FilDA token is the governance token of the platform. As the project gradually matures, including the maturity of users, the team will transfer the governance rights of the protocol to FilDA holders, especially long-term holders. The DAO V1 version is currently running on Heco. At the same time we are working on a V2 version.

The V2 version refers to Curve’s governance model. Users can vote for supported assets, and the voting results can change the mining ratio. At the same time, participating in the voting will also affect the mining speed and rights of individuals. We will finish it in the near future and release it on IoTeX when the time is right.

So veFILDA is coming, and you can use this to influence your lending rates on protocol. Hold more for more of a say, and more benefits.

Could you share your token’s functionality and tokenomics to us?


1. Users will get a deposit certificate after depositing in FilDA

2. Users can pledge the deposit certificate in the V2 version of the contract to get FilDA token rewards

3. After that, you can also lock FilDA tokens for a certain period to obtain veFILDA. The longer the lock time is, the more FilDA is locked, and the more veFilDA is obtained.

4. Users can vote on deposit assets through veFilDA, and the voting result will affect the mining ratio of different assets in FilDA.

5. At the same time, locking veFilDA will also affect the weight of the FilDA reward obtained in the previous step 2. Holding more veFilDA can make the same deposit get different FilDA rewards.

6. In the future, more voting rights for governance proposals will be opened to veFilDA.

What are your top priorities towards the end of 2022 and 2023, can you share some plans for the coming year? And What do you think of that makes FilDA more attractive than other projects?


1. Support more portfolio assets, similar to Curve LP, and NFTs

2. FilDA token governance upgrade, DAO V2

3. To support cross-chain integration, the first step may be cross-chain lending of stablecoins

We are currently operating FilDA on multiple chains and are establishing asset pools on each of these chains. The main goal of the next stage is to establish cross-chain lending and other asset flow methods between multiple chains, so that multi-chain assets can be integrated. At that time, the interests of users of different chains will tend to be the same; on this basis, we can make FilDA tokens cross-chain and circulate with each other.

Some investors feel convenience in their favorite chain and want to see their favourite project on that chain someday. Can we expect someday $FILDA is going CROSS-CHAIN, with governance utility and the same value on all chains?


$FILDA currently exists on HECO IoTeX and ESC (Elastos Smart Chain)

Tokens embody a project’s economic model and the interests of its participants. At present, participants in different chains are different, assets are not circulated with each other, and interests are also different. Therefore, there is no immediate plan to make FilDA tokens cross-chain for the time being.

But everyone should note that every time we release FiLDA on the new chain, we will destroy the corresponding amount of FiLDA on the old chain, and the name of FilDA on each chain is the same. We do this to preserve the possibility of future merger

Segment 3 Live Q&A (Handpicked by the speaker during the Live Session)

Q1: Jack Sparrow

The audit must be certified to gain investor loyalty. Is #FilDA project audit certified from an authentic platform?

A1: We have audits from a few security firms. Including Certik.

Q2: Manjul Saini
Do you Encourage Bug Bounties for the Betterment of your Project? What are the rewards for them who. Report Major Bugs?

A2: There is a bug bounty available. Read more here: https://docs.filda.io/english/announcement/filda-bug-bounty

Q3: kenny kimora


“FILDA holders with 10,000 + FILDA in DAO get VIP Service for free.”
This is interesting to discuss, what is VIP Service?
There I did not find an explanation. What are the benefits of VIP Service? Is there another way to get VIP Service access?

A3: This is for the loan tracking service on HECO: https://wau.finance/filda

We may expand this, or similar, to other chains too.

I can’t confirm that though.

Q4: Margie Olivo

The cryptocurrency market is increasingly competitive, especially Defi. What is $Filda unique “selling point”? and how will you take advantage of it?

A4: I think we are trying to provide lending and borrowing services to users of EVM chains, using our Compound fork (now improved and tweaked, with further upgrades as mentioned in the AMA).

Aave, Alpha and Compound innovated on Ethereum, and now we strive to provide an evolution of lending so that more can access it’s benefits.

Q5: Alex Roy, [07/06/2022 13:29]
What role does the $Filda token play in your ecosystem? What are the benefits of long-term holding?

A5: The new veFILDA model, and the governance that will come as we mature further will provide lenders who are $FILDA holders with opportunities to earn better yields.

Coupled with cross-chain lending, FilDA is positioning itself across multiple chains in the belief that chain agnosticism will prevail. But lending and borrowing will always be needed — and we want to provide to anywhere, from anywhere.

If you would like to know more about FilDA! here are some useful links for you:

Website: https://www.filda.io/
Gitbook: https://filda-1.gitbook.io/filda/

Twitter: https://twitter.com/fildafinance
Telegram: https://t.me/FilDAcommunity
Medium: https://fildafinance.medium.com/
Reddit: https://www.reddit.com/r/FilDA/
Github: https://github.com/fildaio/FilDA




FilDa is your portal into the next wave of decentralized finance.