Gemini Exchange will release a Filecoin-based token on the Ethereum network Gemini cryptocurrency exchange is developing the Wrapped Filecoin (wFIL) service, which will allow the use of its own Filecoin (FIL) token on the Ethereum blockchain. In a blog post, Gemini announced that it is looking for Ethereum developers interested in adding wFIL to their platforms.

Gemini Exchange To Release Filecoin-Based Token On Ethereum Network

The Gemini cryptocurrency exchange is developing the Wrapped Filecoin (wFIL) service, which will allow the use of its own Filecoin (FIL) blockchain project token on the Ethereum blockchain. On the blog, Gemini announced that it is looking for Ethereum developers interested in adding wFIL to their platforms..

"The service will allow you to convert FIL in your Gemini account at a 1: 1 rate and send it to any Ethereum address you specify," Gemini explains. - You can also convert wFIL to FIL on Gemini at a 1: 1 rate ".

For the storage of FIL, the company promises to use its own institutional-grade custodian solution "with full transparency, so that you can always make sure that the amount of FIL that we hold corresponds to the volume of wFIL in circulation.".

The Filecoin network was launched in mid-October after three years of preparation. The project allows you to lease unused storage resources and thus earn its own tokens.

It was previously noted that Filecoin storage grew 40% after meeting the requirements of Chinese miners.

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Gemini Exchange To Release Filecoin-Based Token On Ethereum Network

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