[alsoWFIL] WFIL DAO Maker Community Representative Proposal

WFIL Labs would like to open a discussion with the community around a proposal for Maker to have a community representative as founding DAO member for Wrapped Filecoin (WFIL).

WFIL Labs Team is currently completing the WFIL Factory contract audit by Quantstamp.
The WFIL Factory contract will be controlled by a DAO multisig contract (Gnosis Safe) and managed via OpenZeppelin Defender SecOps Infrastructure (Relay), to allow Merchants to add WFIL Mint and Burn requests to be confirmed by Custodians.

The steps required to ensure transparency and decentralization of the process are the following:

  • Add the community representative EOA, preferably with a human readable ENS associated, as owner of the WFIL DAO Multisig, adjusting the confirmation threshold accordingly.
  • Post the Etherscan transaction link on Twitter tagging @WrappedFIL for an official announcement.
  • Include the Twitter link and WFIL DAO member address on a README on the WFIL DAO repo for reference.
  • :tada:

The responsibilities of the WFIL DAO member will include:

  • Approve Upgrades of the WFIL Factory Contract.
  • Add/Remove Merchants and Custodians to the WFIL Factory.
  • Emergency Shutdown of the WFIL Protocol.

The ideal community representative candidate would have the following technical skills:

  • MetaMask
  • OpenZeppelin Defender Admin
  • Gnosis Safe Multisig
  • Read/Understand Smart Contracts.

WFIL by WFIL Labs is the Safest, most Decentralized Filecoin wrapping solution on Ethereum, designed specifically for the Filecoin Ecosystem and DeFi Community.

WFIL Labs will also allow Ethereum users to use WFIL to buy storage directly on Filecoin and provide APIs for developers to build DApps on Ethereum, working with Textile.

WFIL Labs Team anticipates a low-risk analysis for the token that will be compliant for integrations with lending platforms such as MakerDAO, Compound and Aave and other services like Uniswap, Curve, and so on.

WFIL Labs is also defining the roadmap for next year that will include the R&D and implementation of a non-custodial version by leveraging on Filecoin Smart Contracts working with Aztec with the support from the Filecoin Foundation.

The key differentiator for WFIL and other Filecoin wrapping solutions is WFIL superior security and more decentralized architecture to keep the peg ratio 1:1 with Filecoin stable, transparent and verifiable.

Ref. Wrapped Filecoin MIP6 Collateral Onboarding Application


I’ve been following the WrappedFIL project for a while and have been impressed by their execution and commitment to building a Filecoin token with strong decentralization.

At ConsenSys Codefi, we plan to integrate WrappedFIL into our DeFi Bridge in 2021, joining renFIL, and giving users choice for the version of tokenized FIL they use based on their use case.

The lending and borrowing markets for Filecoin are quite massive at the moment and are only getting bigger in 2021. So getting wFIL into Maker would continue that trend and provide massive utility to the miners and FIL holders looking for a decentralized lending venue.


WFIL Factory by WFIL Labs has been deployed on Mainnet!!! :tada:

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