USDFC Stablecoin to Bring Massive Benefits to Filecoin Ecosystem, New Research Finds

New research by 10X Research has revealed the massive benefits on offer to users of a U.S. Dollar-denominated stablecoin being launched within the Filecoin ecosystem.

A new report by 10X Research has highlighted the massive benefits that could accrue to users with the launch of a U.S. Dollar-denominated stablecoin within the Filecoin ecosystem.

Filecoin is among the most rapidly-growing platforms in Web3, and there is a vast amount of untapped value on the decentralised file storage network waiting to be unlocked. From high-level support from a number of foundations and an ever-growing list of ecosystem partners, the importance of a publicly open, peer-built lending market and a liquid source of on-chain Dollars is becoming more apparent with each passing day, especially as the data stored on the protocol increasingly becomes the fuel powering the oncoming AI revolution.

Among the 10x research report’s main findings, it is believed that such a coin would bring expanded possibilities similar to how DAI impacted Ethereum’s DeFi markets. These benefits include but are not limited to:

* Increased Capital Efficiency: A liquid U.S. Dollar-denominated stablecoin would facilitate more efficient capital utilization within the Filecoin ecosystem.

* Enhanced Atomic Transactions: The presence of such a stablecoin would enable more complex and sophisticated on-chain transactions, combining multiple actions in a single atomic transaction.

* New Financial Products and Services: With a stablecoin and a deeper liquidity pool, new and innovative financial products and services could be developed specifically for the Filecoin ecosystem.

* Greater Interoperability: A U.S. Dollar-denominated stablecoin on Filecoin would enhance interoperability with other blockchains and broader fiat systems.

* Increased Institutional Interest: The availability of a stablecoin and advanced financial products could attract greater interest from institutional investors in the Filecoin ecosystem.

Secured Finance has been contributing to the Filecoin ecosystem to bring to market USDFC, a product that would largely fill the role described above. This stablecoin would be over-collateralised and pegged to the value of FIL – in USD.

“We believe that the Filecoin ecosystem is ripe for further innovation and adoption,” said Masa Kikuchi, CEO at Secured Finance. “By enabling ecosystem participants to transact in U.S. Dollars, a whole new world of optionality opens up and should enable more rapid growth of the overall platform.”

By comparison, the amount of ETH tokens backing Maker Dao’s DAI token grew to more than seven billion dollars two years after launch, and currently stands at XX billion. A similar impact to the Filecoin ecosystem would be a trajectory altering outcome for the project.

To learn more about USDFC or Secured Finance, please visit http://secured.finance; or follow Secured Finance on X at https://www.x.com/Secured_Fi.

The current cycle of the industry is seeing the emergence of stablecoins that now can act as a format of stable proxy to interact with the ecosystem they connect to and assist liquidity momentum. The coming ability for ecosystems USDFC will be connected to will only aid the ability for more dynamic interactions.

Secured Finance has been actively contributing to the Filecoin ecosystem by developing USDFC, a stablecoin that is being over-collateralized and pegged to the value of FIL in USD.

This new research from 10X Research has highlighted the significant advantages available to users with the launch of a U.S. Dollar-denominated stablecoin within the Filecoin ecosystem.

About Secured Finance

Secured Finance revolutionizes fixed-income with on-chain orderbook lending & bond issuance and FIL-backed stablecoin, USDFC. Powered by smart contracts, our platform delivers transparent, low-cost fixed-rate lending and true financial inclusion in DeFi 2.0.

About 10X Research

10x Research is a leading digital asset research firm delivering institutional-grade crypto market insights, trading signals, investment strategies, and fundamental analysis for digital assets. With a focus on quantitative analysis, macro trends, and systematic trading models, 10x Research helps clients make informed decisions in the fast-moving crypto space.