{"id":31547,"date":"2020-11-10T18:07:41","date_gmt":"2020-11-10T16:07:41","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=31547"},"modified":"2025-08-28T04:14:58","modified_gmt":"2025-08-28T01:14:58","slug":"gemini-to-launch-wrapped-filecoin-token-on-ethereum","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/gemini-to-launch-wrapped-filecoin-token-on-ethereum\/","title":{"rendered":"Gemini to launch Wrapped Filecoin token on Ethereum"},"content":{"rendered":"<p>The cryptocurrency exchange Gemini, owned by the Winklevoss brothers, has begun developing a service for holders of the Filecoin (FIL) token on the decentralized storage network. With the new solution, they will be able to use FIL on the Ethereum blockchain.<\/p>\n<p><!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Are you interested in adding <a href=\"https:\/\/twitter.com\/search?q=%24WFIL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$WFIL<\/a> to your products or platforms? If so, we want to hear from you!<\/p>\n<p>Gemini is in the process of developing a Wrapped Filecoin service so that Filecoin <a href=\"https:\/\/twitter.com\/search?q=%24FIL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$FIL<\/a> can be used on the <a href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&#038;ref_src=twsrc%5Etfw\">#Ethereum<\/a> network.<\/p>\n<p>Learn more on our blog: <a href=\"https:\/\/t.co\/QGelaakEbJ\">https:\/\/t.co\/QGelaakEbJ<\/a><\/p>\n<p>\u2014 Gemini (@Gemini) <a href=\"https:\/\/twitter.com\/Gemini\/status\/1325933250003558400?ref_src=twsrc%5Etfw\">November 9, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Users will convert FIL into a wrapped token, Wrapped Filecoin (wFIL), at a 1:1 ratio. The asset can be exchanged back or withdrawn to any Ethereum address.<\/p>\n<p>Representatives of the exchange noted that all FIL tokens will be held in Gemini&#8217;s custody with &#8220;full transparency&#8221;.<\/p>\n<blockquote>\n<p>\u201cUsers can verify that the amount of FIL held by the exchange is equal to the total amount of wFIL in circulation,\u201d the statement said.<\/p>\n<\/blockquote>\n<p>Earlier, Gemini <a href=\"https:\/\/u1f987.com\/en\/news\/gemini-users-can-withdraw-zcash-to-shielded-addresses\">announced<\/a> that it had become the first regulated trading platform with support for withdrawals via the privacy-focused cryptocurrency Zcash.<\/p>\n<p>The Filecoin mainnet <a href=\"https:\/\/u1f987.com\/en\/news\/filecoin-mainnet-goes-live\">launched<\/a> on October 15. The next day, the Chinese portal 8btc <a href=\"https:\/\/u1f987.com\/en\/news\/filecoin-network-faces-miner-strike-after-launch\">reported<\/a> a &#8220;strike&#8221; by miners unhappy with the project&#8217;s economic model.<\/p>\n<p>Earlier, on October 23, developers <a href=\"https:\/\/u1f987.com\/en\/news\/filecoin-miners-begin-receiving-25-of-block-reward-immediately-after-mining\">activated<\/a> the FIP-004 proposal on block 170,000. The update allowed miners to receive 25% of the block reward immediately after its mining.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/www.facebook.com\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency exchange Gemini, owned by the Winklevoss brothers, has begun developing a service for holders of the Filecoin (FIL) token on the decentralized storage network. With the new solution they will be able to use FIL on the Ethereum blockchain.<\/p>\n","protected":false},"author":1,"featured_media":31548,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1488,719],"class_list":["post-31547","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-filecoin-fil","tag-gemini"],"aioseo_notices":[],"amp_enabled":true,"views":"7","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31547","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=31547"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31547\/revisions"}],"predecessor-version":[{"id":31549,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/31547\/revisions\/31549"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/31548"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=31547"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=31547"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=31547"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}