Filet Finance

Filet routes FIL to Filecoin storage-provider mining and offers flexible or fixed-term staking, with nFIL serving as the FVM receipt for circulation and redemption. Returns depend on storage-provider mining output; fixed terms cannot exit early, and 75% of mining rewards follow Filecoin’s delayed release. The 2026-08-16 survey measured about $0.98M across Filecoin, Binance and Mixin, below 1% of the size floor. Those dependencies require full review at scale, but current capacity is institutionally unusable, so the individual review will not open until Filet clears the size floor.

Review triggers: events that reopen the verdict
• TVL sustained above the retired TVL threshold for 30 days

Watched nightly: a warning on its venues or files, or a cited document that changes, reopens the memo. The first confirmation is due 2026-11-16.

The research file

Mechanism applicability

Filet says staking returns come from Filecoin network mining rewards generated through storage-provider power, not external lending. FVM users stake FIL and receive nFIL one-for-one for circulation; they also need the receipt to redeem the underlying order. Flexible products and 90-, 180- or 360-day fixed products have materially different liquidity profiles.

Control and exit applicability

Storage-provider operation, network mining output, sealing progress, smart contracts and Filet’s service fee determine actual returns. Filet says flexible FIL can be withdrawn at any time, fixed-date stakes cannot exit early, and matured stakes require a manual withdrawal. Mining rewards release 25% at first, while 75% unlocks over time and is withdrawn at the end of the staking period.

Current observation and perimeter

The DefiLlama API read on 2026-08-16 classified Filet Finance as Liquid Staking and reported approximately $0.98M: $0.96M on Filecoin, $0.01M on Binance and a small Mixin balance. Filet’s current site focuses on FVM, native Filecoin and BNB access, while the survey retains residual Mixin value. This corrects the stale registry entry that listed only Filecoin.

Why the materiality dossier still applies

Measured TVL is about 0.98% of the size floor, so a normal advised-client book would exceed or dominate observable capacity before Filet-specific review could make it usable. The individual review will not open until TVL clears the size floor and remains there for 30 days. Then review storage-provider concentration and collateral, nFIL redemption depth, fixed-term maturity ladders, fees, realized reward variance, audits and proposed-size exits.

Research status

This is a capacity-unproven record for Filet Finance, not a quality rejection or approval. Reported TVL says how big the venue is, not what the client owns, who can change the rules, or how a position exits at a proposed size. The individual review opens when the protocol clears the size floor.

Sources

The claims above trace to these. Where a number could not be independently verified, the thesis says so.

• Filet — current staking products and mining economics · primary · accessed 2026-08-16
  Supports: FVM and BNB access, fixed terms, storage-provider mining rewards, service fee, reward release
• Filet — holder FAQ and redemption mechanics · primary · accessed 2026-08-16
  Supports: nFIL receipt, flexible withdrawal, fixed-term lock, manual redemption, 30-day sealing
• Filet — storage-provider cooperation requirements · primary · accessed 2026-08-16
  Supports: storage-provider role, owner and earning address control, borrowing ratio, provider requirements
• Filecoin — FVM staking and leasing protocols · primary · accessed 2026-08-16
  Supports: Filecoin staking perimeter, storage-provider collateral, beneficiary address control, FVM mechanism
• DefiLlama — Filet Finance survey record · secondary · accessed 2026-08-16
  Supports: current TVL, Liquid Staking category, Filecoin, Binance, Mixin

Inherited controls

The research above describes the protocol layer. Every position also inherits the asset it holds and the chain it settles on. The layer with the most administrative power sets the position’s effective control; that describes control, not quality or suitability.