❓FAQ
Last updated
Last updated
cWFIL is a cryptocurrency token created to symbolize staked or deposited tokens used as collateral to back the Filecoin storage network. The token is built on the decentralized finance protocol HashMix and serves as a liquidity token. Users can stake FIL into the HashMix smart contract on FVM and receive roughly 1:100 cWFIL tokens in exchange. These tokens can be traded, exchanged, borrowed against, or utilized for other liquidity purposes
FIL Holders will receive cWFIL in their wallet right after they staked FIL successfully on HashMix FIL Liquid Staking Protocol: https://fvm.hashmix.org/
By simple ‘Unstake’ FIL on HashMix FIL Liquid Staking Protocol, cWFIL in your wallet will be directly exchanged into FIL. Or you can swap cWFIL for FIL on DEXs in the future.
If you are unable to see cWFIL in your wallet, it may be because the contract address for cWFIL has not been added to your wallet. To resolve this issue, you can add the contract address by connecting your wallet to the fvm.hashmix.org page and clicking the '+' sign on the page, then you can see your cWFIL in your wallet.
Earnings are the interest of the loan. The storage provider borrows FIL from HashMix and uses FIL to continue sealing, thereby generating FIL income. SPs will pay FIL as the loan's interest, which is the income of HashMix stake users.
As long as there is available liquidity in the Staking Pool, users can unstake their FIL tokens without any temporal constraints. HashMix FIL Liquid Staking Protocol features an interest rate model that is determined by the market's supply and demand dynamics. This model is meticulously designed to maintain equilibrium between supply and demand, ensuring ample liquidity within the Staking Pool. The Staking Pool has a maximum utilization rate of 90%. This implies that Storage Providers (SPs) cannot borrow from the pool once the utilization rate reaches this threshold. Such a restriction aids in safeguarding the liquidity of the HashMix staking pool. Nonetheless, it is essential to bear in mind that there may still be instances where users encounter difficulties with unstaking due to high redemption pressure. During such scenarios, users will need to exercise patience until new liquidity enters the pool. By maintaining confidence in Filecoin, any temporary redemption pressure can be alleviated.
You can ‘ESTIMATE’ the borrowing capacity of your node on our official lending website at fvm.hashmix.org/#/borrow. You can get detailed information regarding the loan amount for your node after ‘ESTIMATE’. Kindly ensure that your wallet o has sufficient FIL n FVM to cover the Gas fee.
You simply need to pledge the beneficiary of the node to the hashmix contract in order to initiate lending. Throughout the duration of the loan, the smart contract only holds the beneficiary of your node, while you remain the owner of the node.
Yes, you can choose to withdraw all your loans at once, or you can opt for on-demand withdrawals depending on how quickly you seal.
After starting borrowing from HashMix, you can Re-Estimate your node at any time. You will receive a new offer based on your node's repayment status and current situation. You can then decide whether to accept the new offer and initiate a new loan. Re-transfer the beneficiary of the node is not necessary for this process.
The 'Harvest Factor' represents the repayment ratio. This metric reflects the percentage of the node's proceeds that will be allocated toward loan repayment. By adjusting the repayment ratio, you can optimize capital efficiency according to your business requirements.
After you repay all the loans, click ‘Return Beneficiary’ to claim your beneficiary address back on the homepage.
