CoinList introduces Low Collateral Filecoin Borrowing to Grow Decentralized Storage


CoinList was born in 2017 out of a collaboration between Protocol Labs and AngelList to run a compliant offering of Filecoin SAFTs. Since then, they have been committed to growing the Filecoin ecosystem and supporting the storage providers in building the first decentralized storage network.

Since launching in 2020, CoinList’s FIL Lending Desk has offered a sustainable and reliable method for Filecoin borrowers and storage providers to obtain fixed-term FIL loans for 30 to 540 days, starting at 3,000 FIL. They have done over $450M in FIL originations since launch and are positioned to source individual loans greater than 250,000 FIL in days.

February 8.2022, They are excited to launch a new borrowing program to support decentralized storage on Filecoin with a specific focus on new Filecoin storage providers.

Utilizing the Filecoin blockchain and the storage provider’s withdrawal address, they allow borrowers to put up as little as 10% initial collateral to secure loans to provide storage through the Filecoin protocol.

A high collateral requirement is by far the biggest pain point for newer storage providers given the already high upfront capital required in purchasing the physical mining equipment. By allowing for lower collateral, storage providers can allocate their funding to hardware, rather than FIL or other forms of collateral, allowing them to scale their operations exponentially compared to previous methods.


1. How does CoinList source FIL?

CoinList and Protocol Labs, the developers of Filecoin, have worked together since 2017, including the Filecoin launch in 2020. Due to CoinList and Protocol Labs’ close relationship, CoinList has access to a wide variety of FIL holders. CoinList has an unmatched ability to source FIL directly from Filecoin holders on its platform, making it one of the few lenders able to source individual loans greater than 250k FIL in days.

2. What is the duration of the loan?

CoinList currently provides fixed-term loans. The terms of the loan can range between 30 (not available for multi-sig, low collateral loans) and 540 days and are agreed upon prior to finalizing the loan.

3. What are the collateral requirements for the loan?

With an under-collateralized loan utilizing the Filecoin network, CoinList requires a collateral ratio as low as 10% in upfront collateral in FIL, BTC, ETH, USDC, or USDT.

CoinList also requires additional collateral taken in the form of mining rewards earned by the storage providers. Additional mining rewards are taken until the total collateral ratio is equal to a minimum of 35% of the principal amount. This is ideal for smaller or new storage providers without additional capital for collateral on top of equipment costs who are willing to pay higher interest for a lower collateral loan.

4. When are interest payments due?

Interest payments are due at the end of each month. You will automatically be notified when interest payments are due.

For multi-sig, low collateral loans the interest payment will be deducted from your mining rewards. The rewards, net of interest, are then available for you in your CoinList account to withdraw or sell.
For traditional, fully collateralized loans, you will then deposit the interest owed to your CoinList account and pay the interest payment directly from your FIL wallet.

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