FilDA, the first DeFi protocol built in the Elastos ecosystem, has officially announced its decision to join Heco, Huobi Global’s recently released Eco-Chain.
Huobi Global announced the release of Heco on December 10 in an initiative to support the efficient development of flexible, decentralized applications. As a decentralized, efficient blockchain itself, Heco is compatible with various smart contracts that support high-performance transactions, and is the first product to be launched on the Huobi Open Platform. As the first DeFi platform based on Elastos, FilDA and its partner Filecoin stand to benefit from integration with Heco’s ecosystem by expanding access to decentralized lending, borrowing, and more complex wealth management services for FIL, ELA, and a breadth of other tokens. Through bridging applications such as Elastos’ ShadowTokens, ELA, FIL, and many others can be transferred to the FilDA platform for immediate use. FilDA will also be integrating HT (Huobi Token), an integral token to Heco’s platform, by supporting staking, borrowing, and other wealth management services for HT, such as the formation of HT-based financial products.
At present, the overwhelming majority of DeFi products are built and running on Ethereum, and have been the source of heavy on-chain congestion and exceedingly prohibitive transaction fees. With scalable architecture and an emerging suite of high-performance DeFi protocols, Elastos is well-positioned to absorb some of the liquidity spillover from an overwhelmed Ethereum network. FilDA, along with critical support from Chainlink’s decentralized oracle network, stands at the forefront of Elastos’ DeFi offering, providing secure and efficient lending services and leveraging real-time price feeds to determine loan capacities, collateral requirements, and other key computational values to facilitate platform activity.
By integrating FilDA and others, Huobi plans for Heco to act as a bridge between DeFi and CeFi, enabling frictionless, one-click transfers across networks. Heco includes its own proprietary tools as well, such as secure custody, cross-chain transfer, liquidity provision, and privacy protection, all of which support stable, high-performance transactions and a smooth user experience. By leveraging the rich DeFi products and services provided by FilDA, Heco aims to become a prominent infrastructural tool for cross-chain CeFi platforms and DeFi protocols alike.
About Heco:
Heco is the public chain infrastructure of the Huobi Open Platform, and will become the primary platform for users, assets, and applications interacting with Huobi. Relying on the world’s largest digital asset trading ecosystem, Heco will serve as a hotbed for the development of innovative technologies and business models, and aspires to grow into a robust ecosystem for technology development, promotion, and digital asset exchange.
About FilDA:
FilDA is the first DeFi platform built in the Elastos ecosystem. FilDA’s protocol is fully integrated with Huobi’s Heco Chain and provides support for FIL, the native token of Filecoin, in a greater ecosystem of decentralized financial services that include staking, lending, and other complex wealth management services. On FilDA, users can stake their assets on to generate interest, and borrowers can access the liquidity vested in their otherwise dormant assets.
