👋Collectif DAO
Collectif DAO is a non-custodial liquid staking protocol on Filecoin
Overview
The Collective DAO is a non-custodial liquid staking protocol built on top of the Filecoin network that lets users "stake" their FIL and receive clFIL (Collective Filecoin) in exchange. Staked FIL is distributed among storage providers who use the capital to expand their mining operations. Users can use clFIL in the DeFi ecosystem on both the Filecoin and Ethereum networks.
The price of clFIL is recalculated on every distribution of mining rewards on the Filecoin network. 25% of storage providers' rewards are available for withdrawal without any locking period, and these rewards are distributed among FIL stakers. The remaining 75% of rewards are distributed either from storage provider collateral (with instant access) or vested over 180 days, depending on how miners choose to interact with the protocol.
By staking FIL on the liquid staking protocol, users receive clFIL in exchange, which allows them to use their liquidity in the wider DeFi ecosystem. As the adoption and use of clFIL grows, more DeFi projects in the Filecoin ecosystem are likely to support the clFIL token, making it a fun and exciting way to participate in the Filecoin network.
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