DeFIL aims to be a decentralized lending and financial service platform for the Filecoin ecosystem. Filecoin refers to a peer-to-peer storage network that seeks to ensure that the data files are stored securely and reliably. In addition, the DeFIL network works toward bridging the gap between the primary and secondary markets of Filecoin. Several miners can participate in FIL (the native token of Filecoin) mining while FIL token holders seek to gain profits.

The positioning for DeFIL is set to Filecoin Decentral. The DeFIL protocol allows network miners to obtain Filecoin to facilitate mining and hedge risks via FILST (Filecoin Standard Hashrate Token). At the same time, DeFIL enables its users to enter FIL mining just by purchasing a token rather than participants in mining hardware.

FILST implies a computing power NFT (non-fungible token) designed explicitly for the DeFIL ecosystem. In other words, FILST is a standardized computing power token, and it is issued in a decentralized form via special smart contract protocols. FILST, being the standardized token of FIL, can be utilized in multiple ways such as for zero cost market transactions, to borrow, and to seek to obtain FIL output income. Smart contracts are just like regular contracts; however, instead of being drafted on paper, these contracts run in the form of protocols on the blockchain.

In addition, the DeFIL protocol has been deployed on three market-leading chains, including Ethereum, Binance Smart Chain (BSC), and Arbitrum. Arbitrum is a network that allows Ethereum users to settle their transactions away from the platform chain. This deployment provides the network users with standard computing power token issuance and DeFi (decentralized finance) lending services for Filecoin.

The token ticker for DeFIL is DFL, and DFL is issued in the original Ethereum (ETH) format to facilitate the multichain deployment of DeFi.

The initiation of the DeFIL protocol was led by a few well-known mining pools of the Filecoin ecosystem. The contribution and fundings of these market-leading institutions are the pillars for the safety and sustainability of the DeFIL project.

DeFIL deployment on Ethereum took place on November 20, 2020, and the network token, DFL, has a total supply of 81,321,405 DFLs.