New Research Highlights Benefits of US Dollar-Denominated Stablecoin in Filecoin Ecosystem

New research by 10X Research reveals the significant advantages of a US Dollar-denominated stablecoin within the Filecoin ecosystem.

Filecoin is one of the fastest-growing platforms in Web3, with untapped value in its decentralized file storage network awaiting discovery. High-level support from various foundations and an expanding list of ecosystem partners underscore the necessity for a publicly open, peer-built lending market and liquid on-chain Dollars.

As the protocol’s stored data fuels the AI revolution, the report suggests that such a stablecoin could offer expanded possibilities akin to the impact of DAI on Ethereum’s DeFi markets.

Benefits of the Stablecoin

These advantages include, but are not limited to:

• Increased User Adoption: An on-chain reserve stablecoin enhances accessibility for a broader user base on Filecoin’s platform.
• Enhanced Liquidity and Stability: Eliminating the need for users to transact in FIL improves market dynamics.
• Opportunities for Financial Products: Users can leverage loop trading, carry trades, and fixed-income instruments within Filecoin’s ecosystem.

Secured Finance is developing the USDFC stablecoin, which will be over-collateralized and pegged to FIL’s USD value.

Masa Kikuchi, CEO of Secured Finance, stated, “We believe that the Filecoin ecosystem is ripe for further innovation and adoption.” By enabling transactions in US Dollars, new opportunities arise to foster rapid growth of the platform.

When compared to the growth of ETH tokens supporting Maker Dao’s DAI—exceeding seven billion dollars within two years—a similar impact could significantly shape the trajectory of the Filecoin ecosystem.

To learn more about USDFC or Secured Finance, please visit Secured Finance or follow them on X at Secured Finance on X.

About Secured Finance

Secured Finance redefines fixed-income with on-chain orderbook lending, bond issuance, and the FIL-backed stablecoin, USDFC. Their platform leverages smart contracts for transparent, low-cost fixed-rate lending and true financial inclusion in DeFi 2.0.

About 10X Research

10X Research is a leading digital asset research firm offering institutional-grade insights, trading signals, investment strategies, and fundamental analysis for digital assets. Focused on quantitative analysis, macro trends, and systematic trading models, they support clients in navigating the dynamic crypto landscape.

This post initially appeared on Invezz.