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Over 3,000 users have flooded the <a href="https://test.filliquid.io/en?utm_source=CaptainAltcoin&amp;utm_medium=PR]" target="_blank" rel="noopener noreferrer nofollow">FILLiquid testnet</a> to farm its $FIG airdrop in its first week, demonstrating the building hype behind the $FIL borrowing and lending protocol.
FILLiquid intends to deepen $FIL liquidity by allowing token holders to earn interest and storage providers to use pledged $FIL as collateral to secure loans.
The FILLiquid team has allocated an enormous 3 million $FIG airdrop distribution for this testnet phase. It provides an adequate incentive to test its four DeFi products for free to earn an airdrop when it launches its mainnet.
<h2 class="wp-block-heading" id="filliquid-sees-impressive-growth-after-testnet-phase-two-launch">FILLiquid Sees Impressive Growth After Testnet Phase Two Launch</h2>
<blockquote class="twitter-tweet">
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f389.png" alt="🎉" class="wp-smiley" style="height: 1em; max-height: 1em;"> The <a href="https://twitter.com/hashtag/FILLiquid?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#FILLiquid</a> Testnet Phase 2 on <a href="https://twitter.com/zealy_io?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@zealy_io</a> is LIVE! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> Join us for another groundbreaking journey into Staking, Borrowing, and Farming within the <a href="https://twitter.com/Filecoin?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@Filecoin</a> ecosystem. <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f310.png" alt="🌐" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/FilFoundation?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@FilFoundation</a> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f3c6.png" alt="🏆" class="wp-smiley" style="height: 1em; max-height: 1em;"> Up for grabs: 3,000,000 <a href="https://twitter.com/search?q=%24FIG&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$FIG</a> tokens &amp; a $2000 USDT prize pool for the top 20… <a href="https://t.co/fI1GMnNErE" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/fI1GMnNErE</a>— FILLiquid (@FILLiquid) <a href="https://twitter.com/FILLiquid/status/1777879241293533323?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">April 10, 2024</a>
</blockquote>
FILLiquid launched the second phase of its testnet on April 8th and has seen impressive growth figures in just a week since opening.
A total of 3,000 unique wallets have rushed to the testnet to participate in the testing, allowing them to be eligible to receive the free $FIG airdrop distribution once the protocol launches.
The second phase of the testnet is designed to test the upgraded features implemented following the data received from the first phase of the testnet.&nbsp;
FILLiquid implemented changes to its UX and improved its $FIG Farming product emission schedule to ensure longevity for its utility token when the project launches its mainnet.
In addition, the project’s developers have implemented a new DeFi product: $FIG Staking. This new product pushes $FIG beyond the scope of governance, allowing holders to earn a share of the revenues generated on the protocol.
<h2 class="wp-block-heading" id="farming-fig-why-are-so-many-users-rushing-to-the-free-testnet">Farming $FIG: Why Are So Many Users Rushing to the Free Testnet?</h2>
Users rush to the free testnet, where they can receive a free $FIG airdrop reward once the mainnet is activated.
After the snapshot is taken, everyone participating in the second phase of the testnet will receive a share of the 3 million $FIG airdrop.
The team is incredibly transparent, releasing detailed outlines surrounding the breakdown of the airdrop distribution.
Users who wish to acquire the most $FIG in the airdrop must join its Discord server to paste their participation wallet address and achieve a Level 5 community Discord level on the server.
The first testnet was an incredible success, with over 10,000 wallets participating. At the current rate, the second phase of the testnet is expected to be bigger, with more users flooding into the testing to receive the $FIG airdrop.
<h2 class="wp-block-heading" id="filliquid-opening-up-liquidity-for-filecoin-storage-power-growth">FILLiquid: Opening Up Liquidity For Filecoin Storage Power Growth</h2>
FILLiquid is a decentralized Filecoin borrowing and lending solution that aims to improve the liquidity problem experienced on the Filecoin network.
Currently, storage providers must pledge $FIL to the Filecoin network to onboard new clients and increase their storage capacity.&nbsp;
Unfortunately, the pledging protocol places financial burdens on storage providers, who must dig into their pockets to secure $FIL to increase their storage provision business.
FILLiquid allows storage providers to secure $FIL loans without increasing their financial burdens. Instead, they can secure loans using the $FIL already pledged in their service node and binding it to the FILLiquid liquidity pool.&nbsp;
The service nodes contain adequate collateral to protect lenders, while borrowers can acquire $FIL without reaching into their pockets.&nbsp;
<h2 class="wp-block-heading" id="earn-rewards-participate-in-receiving-a-free-fig-airdrop-distribution">Earn Rewards: Participate in Receiving a free $FIG Airdrop distribution.</h2>
<figure class="wp-block-image"><img loading="lazy" decoding="async" width="1400" height="700" src="https://captainaltcoin.com/wp-content/uploads/2024/04/image-771.png" alt="" class="wp-image-475594" srcset="https://captainaltcoin.com/wp-content/uploads/2024/04/image-771.png 1400w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-771-300x150.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-771-1024x512.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-771-768x384.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-771-1536x768.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-771-2048x1024.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-771-100x50.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-771-700x350.png 700w, https://captainaltcoin.com/wp-content/uploads/2024/04/image-771-788x394.png 788w" sizes="(max-width: 1400px) 100vw, 1400px">
</figure>
<a href="https://test.filliquid.io/en?utm_source=CaptainAltcoin&amp;utm_medium=PR]" target="_blank" rel="noopener noreferrer nofollow">Participating in the testnet is free</a> as it’s facilitated through the official Filecoin Calibration testnet network.
Users must point their wallets to the testnet network and load them with free testnet tokens. Once prepared, they will be free to participate in testing the four DeFi products and become eligible to receive the free $FIG airdrop distribution.
The team has released three detailed guides (<a href="https://medium.com/@FILLiquid/testnet-tutorial-part-1-getting-your-testnet-wallet-ready-and-loaded-7c92c1d7e27a" target="_blank" rel="noopener noreferrer nofollow">Part 1</a>, <a href="https://medium.com/@FILLiquid/testnet-tutorial-part-2-depositing-fil-into-the-liquidity-pool-for-lending-6a106e43d7de" target="_blank" rel="noopener noreferrer nofollow">Part 2</a>, <a href="https://medium.com/@FILLiquid/testnet-tutorial-part-3-staking-fit-to-earn-fig-through-farming-8dc3eb5889d9" target="_blank" rel="noopener noreferrer nofollow">Part 3</a>) that outline the testing procedures.&nbsp;
Overall, the first week’s stats from the FILLiquid testnet show the increasing popularity of this newly emerging $FIL liquidity solution.
About FILLiquid
FILLiquid is a lending platform that bridges $FIL token holders with Storage Providers that won the Ethereum and Filecoin DeFi hackathon in 2023. The platform allows $FIL holders to earn a passive income through lending, while Storage Providers can access $FIL liquidity at market-based rates to expand their storage provisions.
The protocol intends to help the continued expansion of storage power on Filecoin without increasing financial burdens for Storage Providers, as they don’t have to deposit crypto or fiat as collateral. Instead, FILLiquid allows them to secure $FIL loans using their Beneficiary Address as collateral, setting itself apart from other industry-centralized and decentralized lending platforms.
<a href="https://test.filliquid.io/en?utm_source=CaptainAltcoin&amp;utm_medium=PR]" target="_blank" rel="noopener noreferrer nofollow">Website</a> – <a href="https://twitter.com/FILLiquid" target="_blank" rel="noopener noreferrer nofollow">Twitter</a> – <a href="https://discord.gg/xgFRn3x9CF" target="_blank" rel="noopener noreferrer nofollow">Discord</a> – <a href="https://github.com/FILL-Lab" target="_blank" rel="noopener noreferrer nofollow">GitHub</a> – <a href="https://t.me/filliquidA" target="_blank" rel="noopener noreferrer nofollow">Telegram</a>
Media contact:
Isaac Essuman media@fliquid.io
Marketing Manager
Disclaimer: This sponsored content is not endorsed by CaptainAltcoin, which takes no responsibility for its accuracy or quality. This content was not written by CaptainAltcoin’s team. We advise readers to do their own research before interacting with any featured companies. The information provided is not financial or legal advice. Neither CaptainAltcoin nor any third party recommends buying or selling any financial products. Investing in crypto assets is high-risk; consider the potential for loss. CaptainAltcoin is not liable for any damages or losses from using or relying on this content.
The post <a href="https://captainaltcoin.com/2000-users-flood-to-filliquid-testnet-to-farm-free-fig-airdrop-in-just-5-days-why-are-so-many-users-testing/" rel="noopener noreferrer nofollow">2,000 Users Flood to FILLiquid Testnet to Farm Free $FIG Airdrop In Just 5 Days – Why Are So Many Users Testing?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.

2,000 Users Flood to FILLiquid Testnet to Farm Free $FIG Airdrop In Just 5 Days – Why Are So Many Users Testing?

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