Filecoin is an open-source, public cryptocurrency and digital payment system intending to be a blockchain-based cooperative digital storage and data retrieval method. Filecoin is regarded as a distributed data storage and retrieval network which is making the web safer and more efficient with a decentralized data storage marketplace, protocol, and cryptocurrency. As of December 2022, the total storage capacity was 18.981 EiB.
As FVM gradually matures and there are more and more application scenarios for Filecoin. We believe that there will be some breakthroughs in the future, but not now.
At this stage, the price of FIL continues to be at a low level which is the most suitable time to hoard coins. However, a lot of people who are ignorant of crypto want to participate in. For that, finding a trustworthy platform is a good way to earn coins.
Filet has been serving thousands of Filecoin holders with risk-free and high-growth FIL staking services since May 2021. These holders come from the Filecoin chain, BSC, and HECO network, with an accumulated staking number of over 340,000 FIL. Though some people have not yet fully understood the economic model of Filecoin, they believe that Filecoin can make a big difference in the future. Therefore, an increasing number of people choose to believe Filet.
For better understanding of how Filet works, detailed information is as followed.?
The first thing you need to know is that Filecoin mining is a very systematic and complicated process. It needs to encapsulate the storage space, that is, convert the space of the storage machine into effective mining power, and then generate mining revenue. Storage sealing needs time. Generally, as mining power increases, revenue also increases. The current sealing period defined by the Filet platform is 30 days, which means that if you stake 12 FIL to obtain 1T mining power, you will not get 1T mining power directly on the first day, but a 30-day cycle. On the first day, you obtained 1/30T of effective mining power. Similarly, the income on the first day corresponds to the income of 1/30T of effective mining power, and on the 30th day, your output is 1T of full mining power. The earning data will be more and more in the future.
Secondly, the economic model of Filecoin mining is also important. The output of Filecoin mining is divided into two parts, of which 25% is a simple release part, which will be released on the day of mining, and the other 75% will be released linearly in a 180-day cycle. For the 25% parts, after deducting the service fee, Filet will push the income to the Filet users through the smart contract. However, in Filet, 75% of the portion will be given to the user as a locked portion, and the user can withdraw at one time after the staking period expires. The longer the staking period, the more earnings you get.
Finally, the annualized income displayed on the Filet platform is different for different products. The minimum pledge amount is 1FIL. After the pledge is successful, it can be redeemed at any time. The income is divided into two parts including the basic income and the additional income. The basic income changes daily according to the lucky value of the Filecoin node. Additional income depends on different length of pledge. If the staking date is between 30 days to 60 days, you will get a 1% additional annualization. If the staking date is between 60 days to 900 days, you will get a 2% additional annualization. The staking date is over 90 days and the additional annualization will reach to 4%. But if you prolong the staking date to 180 days, the additional annualization will be 6%, which is quite appealing. If the staking date is over 180 days, the additional annulization will bu up to 8%. In conclusion, the longer the pledge time, the higher the income. Therefore, the long term of pledge is highly recommended.
How Filet works has been specifically explained. There is an another piece of information, the rewarding system, you should know. If you successfully share Filet with you friends, you will get a decent commission. The reward is calculated based on the daily income of the invitee, and is subsidized by the official Filet, not from the invitee’s income. When you invite your friends, they will receive a blind box. Within the box, there is a random coupon. The more friends you invite to stake with coupons, the more rewards you can get from the Filet. Meanwhile, your friends can also get a certain percentage of extra FIL income based on daily income.
Now enjoy earning more FIL tokens in Filet, secure and safe.
Filet is a Filecoin mining power tokenization protocol that deployed on BSC and HECO network. It tokenizes Filecoin mining power and introduces it into the DeFi ecosystem to provide FIL holders with high-growth FIL staking services. The mining power and assets are completely open and transparent.
Filet is backed by one of the largest storage providers in North America. The project is open source and audited by Certik. It is safe and secure to stake in Filet.