Gemini exchange will issue a Filecoin-based token on the Ethereum network

Gemini cryptocurrency exchange is developing the Wrapped Filecoin (wFIL) service, which will allow you to use your own token of the Filecoin (FIL) blockchain project in the Ethereum blockchain. In a blog post, Gemini announced a search for Ethereum developers interested in adding wFIL to their platforms.

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

For storing FIL, the company promises to use its own institutional-level custodial solution "with full transparency, so that you can always make sure that the amount of FIL 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 resources for data storage and thus earn its own tokens.

Earlier, it was noted that Filecoin storage increased by 40% after meeting the requirements of Chinese miners.