LendMi 2.0 New Era: VFIL pledge lending to play the Filecoin market!

Produced by | Lieyun Finance

The DeFi field is still hot in 2021, and lending platforms are the darlings of the emerging DeFi ecosystem. On July 29, Patrick, the official community leader of LendMi, visited the Lieyun Finance live broadcast room and brought everyone relevant news about the lending platform LendMi!

Lieyun Finance: Please briefly introduce yourself and LendMi!

Patrick: I am the official community leader of LendMi, mainly responsible for the project operation and community building of LendMi. LendMi is a lending platform for the Filecoin ecosystem. It connects the mining and currency circles through DeFi to obtain higher currency-based returns for investors.

LendMi collects FIL through decentralized lending, lends FIL to large nodes (large mining pools) for mining, and distributes the output rewards to investors. Because the output is stable, investors can be guaranteed to enjoy fixed returns. On the other hand, in order to ensure the validity of node pledge assets, the community will elect large nodes (high value) and require nodes to pledge node private keys to ensure control of the nodes (control can be verified by miner signatures).

LendMi now supports the HECO and BSC main chain ecosystems, with a maximum deposit of 600,000 coins and a total asset value of over 120 million US dollars. To sum it up in one sentence, we want to be the DeFi platform with the highest Fil deposit income in the entire network!

Lieyun Finance: Many friends have heard about LendMi 2.0, but don’t know enough about it. Can you give us a complete introduction to what new gameplay LendMi 2.0 has achieved?

Patrick: In this version, we bring you a brand new and more dynamic product: VFIL - Filecoin physical mining fund.

Physical Filecoin mining is an investment project with a very high threshold, whether it is capital, hardware, or technology. In investment behavior, based on the user's assets, behavioral capabilities, and risk preferences, we can regard the Fil joint mining part of Filecoin lending mining as a product. It has a fixed model and a stable source of value growth, and is a good project. We open this project to all Fil investors and allow you to participate, subscribe for shares, and get a share. This is the Filecoin mining fund.

Holding VFIL is equivalent to holding 1 FIL + 1 FIL mining annualized income. You can enjoy the income by staking, and the expected annualized income is 18%. Isn’t it cool? —— You can enjoy the income by lying down, so why not?

Lieyun Finance: Patrick just mentioned the platform’s original Filecoin physical lending mining fund VFIL. Compared with physical mining, what are the advantages of the VFIL mining fund?

Patrick: The VFIL mining fund is a fund share equity token issued based on the physical Filecoin mining. It aims to standardize the Filecoin mining equity token, lower the mining threshold, form a standard issuance, circulation, settlement, and redemption mechanism, reduce friction, and enable investors to easily participate in or exit loan mining, and obtain fair and transparent mining income, making Filecoin mining popular on the Ethereum network (Heco, BSC network).

First, let’s talk about the major features of VFIL:

1. 1 VFIL = 1 Fil + 18% annualized return. Each VFIL corresponds to a FIL token staked in the mining machine.

2. VFIL's rights and interests are divided into two parts: principal and mining income. Holding 1 VFIL is equivalent to holding 1 FIL principal pledged in a physical mining machine, and this 1 Fil also receives mining rewards.

3. VFIL is minted when subscribing and destroyed when redeeming. When subscribing, FIL is locked to generate VFIL, and when redeeming, VFIL is destroyed to release FIL.

4. You can receive dividends by staking VFIL. The dividends are settled on the chain and distributed every block. You can receive them at any time.

5. There is no fee for purchasing and redeeming VFIL.

In addition to the above five features, VFIL mining funds also have many advantages:

1. Principal protection and high returns: The principal can be redeemed, and high-yield dividends are issued once per block and can be withdrawn at any time.

2. Tokenization of physical mining: You can enjoy the benefits of mining without having to invest in heavy assets to purchase mining machines and build mining farms.

3. Complete decentralization: data on subscription, redemption, pledge, dividends, etc. are open and transparent and can be checked on the chain.

4. Strong scalability: Equity Tokens follow the ERC20 standard and can be accommodated by all Ethereum (or BSC, HECO) ecosystems.

5. Strong liquidity: LendMi will officially create a liquidity pool on DEX to provide a secondary market channel for the entry and exit of the VFIL fund.

So in general, it offers capital preservation, high returns, decentralization, strong liquidity, and guaranteed security and privacy.

Lieyun Finance: What are the benefits of LendMi’s products?

Patrick: Let’s talk about annualized rate directly. Our 90-day fixed annualized APY is 30%, which should be the highest in the entire network.

Friends who don’t like to deposit fixed deposits can also put them into the current account pool, with a fixed annualized rate of return of 10%, and can deposit and withdraw at any time. Compared with other DeFi lending platforms, the rate of return is also much higher.

In addition, we recently launched the VFIL fund: holding 1VFIL is equivalent to holding 1FIL + 1FIL staking. The annualized rate of return is estimated to be around 18%, which is still higher than the current deposit of FIL.

In general, there are a variety of products for users to choose from according to their preferences, each with its own advantages!

Lieyun Finance: I believe everyone is eager to try out LendMi's high returns, so how can we participate? Is there a detailed process you can tell us?

Patrick: VFIL cannot be issued out of thin air, it must have a source of value.

Currently, through the subscription method, one FIL can be minted into one VFIL, which is written in the smart contract and strictly enforced. That is to say, every VFIL circulating in the market is backed by one Fil as collateral. Similarly, during the redemption stage, users can also exchange VFIL for Fil, at which time VFIL will be destroyed.

There are two ways for users to participate. The process is as follows:

Method 1: In the wallet, search lendmi.pro, find the subscription page, and mint VFIL by subscribing 1 FIL: 1 VFIL. The total amount of the first subscription is 1 million pieces, and subscription is not allowed after the issuance.

The subscription channel has been officially opened, and the current total subscription market value is close to 2 million US dollars.

Then pledge the VFIL you purchased in the smart contract to get the benefits. Isn’t it simple! ?

Method 2: Users can also purchase directly through the secondary market. VFIL already supports circulation and trading in the secondary market. Users can purchase it in MDEX. VFIL address (HECO): 0x1f60736262af2df60b60bdeedc113333c22f6034

There are two ways to get involved.

Lieyun Finance: The security of DeFi lending platforms is highly valued by everyone. Can you introduce what LendMi has done to protect the security of user assets?

Patrick: We take security very seriously. First of all, we will submit all smart contracts of LendMi and every change to the auditing agency for strict auditing, and only after ensuring that the audit results are free of medium and high risks, will they be officially launched. At present, it has passed the audit of Lingzong Security and Knowsec, and the audit report has been published in a prominent position on the official website: lendmi.pro. You can check it at any time. In the future, we will also add more auditing agencies to ensure the security of the code.

Secondly, we have also done our best in the management of mining pools and nodes:

1. The lender needs to pledge the mining pool node, including the node's computing power and the digital assets pledged on the node. The loan can only be made after evaluation by the community (and later through DAO) to ensure that the net asset value of the node is much greater than the loan amount.

2. The node needs to pledge the node private key to LendMi to ensure that the income generated by the node and the control of the assets in the node are in the hands of LendMi. The private key signature is transparent and can be checked on the Lendmi official website.

Therefore, whether it is code security audit, product design, or screening of cooperative nodes, we have put in a lot of effort in ensuring the security of funds, and everyone can use it with confidence.

Lieyun Finance: What are LendMi's future plans? Can you reveal them in advance?

Patrick: LendMi has a long-term and detailed plan for future development. First of all, LendMi will continue to dig deep in IPFS, mainly the Filecoin network, and continue to exert its strength in the vertical ecology of the Filecoin ecosystem.

Our next plan is to make the current LendMi project more decentralized, mainly focusing on decentralized governance of the currently existing centralized decision-making parts, and handing over the operation rights of LendMi to all community partners who care about LendMi.

Next, we may launch some new products, all centered around Fil, such as computing power tokens, computing power derivatives, etc. I won’t go into detail about this part, so please wait and see!

Finally, let me show you LendMi’s roadmap.

1. This article is only for the purpose of conveying information, does not represent the position of Lieyun Finance, and does not constitute any investment advice. Investment is risky, so be cautious when entering the market.

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