Depositing FIL Into FILLiquid
The next step in the testing is to deposit $FIL into the liquidity pool, making it available for lending.
Simply hit “Stake,” as shown in Figure 5, and enter the amount of $FIL to be staked in the text box. Once your desired deposit amount is entered, hit “Confirm”. This will bring up a pop-up notification to sign and confirm the transaction, as with any DeFi transaction.
After entering the deposit amount, the system will automatically mint $FIT of an equal value for you based on the currency exchange ratio. $FIT is the Liquid Staking Derivative token that acts as a proof of stake in the protocol and a vehicle of dividend allocation for interest earned.
For more details surrounding $FIT, please refer to the whitepaper.
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