1. Who is the interested party for this collateral application?
1. Provide a brief high-level overview of the project, with a focus on the applying collateral token.
Wrapped Filecoin (WFIL) is the First Filecoin Wrapped Token on Ethereum.
WFIL is an ERC20 wrapper over Filecoin backed by Filecoin deposits on a custodian wallet (1:1 ratio).
WFIL is implemented using OpenZeppelin ERC20 Library and controlled by a Factory contract, set as minter by a DAO multisig contract (Gnosis Safe), to allow merchants and custodians to add mint/burn requests via ad-hoc APIs that interact with OpenZeppelin Defender Relay.
Merchants and Custodians are approved by DAO members via Multisignatures.
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, Balancer, …
1. Provide a brief history of the project.
Wrapped Filecoin (WFIL) was born during HackFS where the first prototype was released.
Afther HackFS, WFIL was been selected for APOLLO by Gitcoin where it has been awarded for Best Protocol Bridge at the Apollo Hackathon by Textile and joined ETHOnline as well.
Currenly, WFIL Labs is one of the companies in the Filecoin Launchpad Accelerator powered by Tachyon (ConsenSys).
1. Link the whitepaper, documentation portals, and source code for the system(s) that interact with the proposed collateral, and all relevant Ethereum addresses. If the system is complex, schematic(s) are especially appreciated.
1. Link any available audits of the project. Both procedural and smart contract focused audits.
The final audit report for the WFIL Token contract show a low risk:
- well documented
- all tests executed successfully
- mitigation for Allowance Double-Spend Exploit via increaseAllowance and decreaseAllowance functions.
* An internal soft-audit has been conducted prior the external audit via Crytic CI (Trail of Bits) using Slither tool.
1. Link to any active communities relating to your project.
1. How is the applying collateral type currently used?
Currenly WFIL is used in the Merchant Demo App (Testnet) to show the wrap/unwrap process to onboard merchants and custodians and on Uniswap (Rinkeby) to allow users to play with the app by providing liquidity and swap on Uniswap.
WFIL Labs is currently working with Textile to bring Ethereum Users the possibility to use WFIL to buy storage directly on Filecoin and use it to build DApps on Ethereum.
1. Does one organization bear legal responsibility for the collateral? What jurisdiction does that organization reside in?
WFIL Labs Inc., a Delaware Corporation, USA.
1. Where does exchange for the asset occur?
WFIL Labs is currently onboarding merchants and custodians to distribute the token, allowing the users to wrap/unwrap Filecoin, as well as launching its own merchant service.
* The Token name (Wrapped Filecoin) and symbol (WFIL) was been first used during HackFS for the first release (v0.1.0) of the token prototype deployed on Kovan Ethereum Testnet (Jul-26-2020 12:52:28 PM +UTC)