Key Features of Repl

100% Capital Efficiency: Repl directly connects pFIL holders and storage providers instead of adopting a raise-and-deploy pool model. This approach enables 100% capital utilization rate of funds committed, thereby effectively increasing returns for users and reducing costs for storage providers.

Permissionless Participation: Repl transforms locked FIL into a fungible liquid token by eliminating idiosyncratic risks among storage providers with algorithms and risk control measures. It enables permissionless participation from both storage providers and token holders and enhances accessibility to the protocol.

Market-driven Rates: Repl optimizes the borrowing rate for storage providers through a dynamic, market-driven mechanism applied to the pFIL/FIL pair. This method avoids potential inefficiencies and idle funds due to the constraints of centralized decision-making and negotiations.

With these features, Repl offers a highly competitive reward rate for pFIL holders and strong use cases for storage providers.