How UniFil works
UniFil provides Filecoin mining services in a decentralized manner. The system can be divided into 3 layers: Participation, Service, and Reward, as illustrated below.
The Participation layer is for users to participate in different mining services. It contains 3 modules:
- An ERC-20 token called "xFIL" which is 1:1 pegged to FIL
- A cross-chain bridge built between FIL and xFIL
- A smart contract called "Mining Contract" for staking xFIL to participate in mining services
The Service layer maintains mining services from different service providers. These providers are selected by the UniFil DAO through voting.
The Reward layer is for users to claim their mining rewards. It has 2 modules:
- A reward settlement module
- A token withdrawal module
Overall, users only need to use their Ethereum addresses to take part in the Filecoin mining services provided by UniFil, without providing any personal information.
The specifications of these modules are listed as follows:
- xFIL: Bridging Filecoin to the DeFi world
- Mining Contract
- Reward Settlement
- Token Withdrawal