vFIL

How to get FIL and use vFIL

vFIL characteristics

• vFIL unstaking period: 0~520 days (flexible)

• OpenGov: No

• Reward fee: 10% (apply to rewards only)

• Unstake fee: 0.1% (apply to unstake amount)

Youtube tutorial

Get FIL on Bifrost

Before minting and using vFIL you first need to hold FIL in the Bifrost network. Commonly used steps to obtain FIL on the Bifrost network:

Prepare FIL on your FVM/native wallet address: - Purchase FIL on CEX or DEX - Buy FIL with credit card with fiat on-ramp solutions (i.e Banxa)

1. Login to bifrost.app and confirm the network in the upper right corner is Polkadot

Polkadot network selected

3. Click "Cross chain" in the main navigation menu on the left to enter the cross chain function

Cross chain menu

4. Click on the "From" option and select Filecoin. You will be asked to connect your FVM wallet and switch to Filecoin network.

Connect your FVM wallet

Cross chain interface

5. Click on "How to deposit FIL to ERC-20 address"

FIL deposit process

5. Click Bind Filecoin to bind your FVM address with Bifrost address.

6. Sign with the Bifrost address and FVM address respectively and pay the binding fee, and wait for the binding to complete

7. Enter the amount of FIL that needs to be crossed in into Bifrost, and click "Cross in" to complete the confirmation and sign the transaction. Finally wait for the transaction to be completed, it can take several minutes for small amounts and hours for bigger amounts. You successfully deposited FIL on Bifrost !

Stake FIL

1. Click on vStaking in the main navigation menu, then click vFIL to enter the vFIL page

vStaking menu with all LSTs

2. Enter the amount of FIL to be minted into vFIL in the right panel (0.5 FIL is the minimum)

vFIL staking page - Minting

3. Click on "Stake" button, confirm and sign the transaction. Once vFIL are minted they are directly deposited in your Bifrost wallet.

Unstake FIL

There are 2 options to unstake FIL from vFIL.

• Full unstaking request (you retain full vFIL value)

• Lightning mode (you swap at market price, most of the time you won't get full value)

1. On the vFIL page, click the toggle button in the middle of the right panel so that vFIL is at the top

vFIL staking page - Unstaking

2. Enter the amount of vFIL that needs to be redeemed

3. Click on "Unstake" button, confirm and sign the transaction

4. On the vFIL page to view the latest progress of your request

Unstake page - Follow your pending unstaking request

Unstake FIL (lightning mode)

1. On the vFIL page, click the toggle button in the middle of the right panel so that vFIL is at the top

vFIL unstaking with Lightning mode ON

2. Turn on the lightning mode option in the FIL part

Lightning mode = swap

3. Enter the amount of vFIL that needs to be redeemed into FIL

4. Click on "Swap" button, confirm and sign the transaction

5. You will get FIL immediately back in your wallet once the swap is executed