With APY up to 40%, this might be the most robust FIL DeFi product on the internet
Recently, Filecoin announced the launch of its newest Virtual Machine (Filecoin Virtual Machine, or FVM). Prior to the advent of the FVM Virtual Machine, the Filecoin network logic was hard-coded through system-defined participants, meaning that user-defined smart contracts could only be used in Filecoin. With the FVM VM, on the other hand, the creation of native trustless programmable storage on Filecoin became a reality.
So far, great progress has been made in this direction, and it is still being refined. For FIL bag holders, this positive news has certainly boosted their confidence in the future value of FIL. So, at this particular time, choosing a reliable FIL DeFi product has become the top priority for many long-term FIL holders.
DMEX (dmex.finance) is a decentralized crypto mining financial services platform. It has recently launched a decentralized term deposit product for FIL. What is a decentralized term deposit and how is it different from traditional term deposits? Check out the following.
1. You can keep your private key safe. All operations are completed in a decentralized scenario, hence every FIL term deposit participant can safely track their transaction history on the blockchain, where funds are co-managed and segregated by multiple-sig technology.
2. The annualized return of the FIL term deposit product can reach as high as 40%. Compared with the yield of similar products in the industry, the APY of DMEX’s FIL term deposit product is outstanding. Also, your income is automatically settled at maturity by smart contracts, no delay, no gimmicks.
3. Flexible options. DMEX’s FIL term deposit product has no minimum deposit requirement, meaning you can deposit as little as $1 to try out the product. The deposit steps are also very simple, you only need to do one authorization in your wallet to complete the deposit, this saves time and gas fees. At the moment, DMEX’s FIL term deposit product is open for sale on both the BSC and Heco chains.
4. Flexible terms. DMEX’s FIL term deposit product has three different terms, 90 days/180 days/360 days respectively. Users also have the option to stake some of DMEX’s platform token DMCs to earn bonus interest on top of what’s already a great APY. Tell me this isn’t the icing on the cakes?
So, how do you start depositing your FIL to DMEX’s FIL term deposit product? Here are the steps:
(1) Take BSC chain as an example. Go to DMEX’s dapp address (bsc.dmex.im), click on “Menu” in the upper left corner and select “Locked Mining”.
(2) If this is the very first time you use the DMEX dapp, you will have to authorize your wallet for both FIL and DMC.
(3) Click on “Deposit” after authorization is completed to go to the deposit page.
(4) If you wish to stake DMC to earn the bonus interest, use the ‘Select Bonus Rate’ button and the system will automatically calculate the number of DMCs to be deposited
DMC is the only platform token of the DMEX platform, users can stake a small amount of DMC to enhance their fix term APY. The year 2022 will be a milestone for the Filecoin team and the FVM virtual machine, together we expect the Filecoin ecosystem to improve and prosper
Official website: https://dmex.finance
Dapp: bsc.dmex.im / ht.dmex.im