10x Research: How a FIL Backed USD Stablecoin By Secured Finance Would Boost The Filecoin Ecosystem

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. Filecoin is among the most rapidly-growing platforms in Web3, and there is a massive amount of untapped value on the decentralised file storage network waiting to be unlocked.

\ Between 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 apparent with each passing day, especially as the data stored on the protocol increasingly becomes the fuel powering the 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:

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• Increased user adoption from an on-chain reserve stablecoin would make Filecoin’s platform more accessible to a wider audience of users
• Enhanced liquidity and stability by eliminating the need for users to transact in FIL
• A universe of opportunity by being able to leverage loop trading, carry trades, and fixed-income instruments within Filecoin’s 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 within two years of 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.

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.

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.

:::tip This story was distributed as a release by Btcwire under HackerNoon’s Business Blogging Program. Learn more about the program here

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