Huobi X Filecoin: $10 million in incubation funds

The incubator focuses on three main areas: incubation, investment, and community development.

It will be used to support promising Filecoin developers, promote Filecoin-related academic research, and promote ecosystem development. Huobi and Protocol Labs both believe that IPFS and Filecoin will become the foundation of the next generation of the Internet, creating a more secure, equal and accessible system to distribute and store data, the most valuable asset in the 21st century.

Since the mainnet launch on October 15, miners have now stored over 1.2 EiB of data on the Filecoin network. This amount of data is enough to store 25 billion 1080p movies or 4,000 Wikipedia backups. More than 100 organizations are developing on the Filecoin mainnet, more than 200 new projects have entered the ecosystem through acceleration camps and hackthons, more than 730 miners have provided storage solutions, and more than 4,800 developers have contributed to projects on GitHub.

Huobi has witnessed the infinite potential of the Filecoin ecosystem and firmly believes that decentralized storage solutions such as Filecoin, similar to decentralized finance, will lead a new wave of blockchain revolution and bring more innovation opportunities to developers. With Protocol Labs as the technical advisor of the investment fund, the incubation center will provide support for Filecoin developers and the community.

"Decentralized storage is a great experiment that combines cloud storage with the distributed storage mechanism of blockchain. We believe that Filecoin will become the infrastructure of the next generation of the Internet. In this new information age, we need to develop new ways to protect, store, and exchange our data, which is crucial to how society and even the world may be defined and developed. In the past, there was no mature system in the world to process data in a distributed way. Distributed storage in the blockchain world is still in the stage from 0 to 1. Viable use cases, the design of incentive mechanisms, and the stability and effectiveness of the system are still to be tested. Whether from the perspective of theoretical research or technological development, the Filecoin ecosystem still needs to be improved. We see that the entire ecosystem needs more resources and support." said Sharlyn Wu, Chief Information Officer of Huobi.

“The Filecoin Incubation Center and Ecosystem Fund launched by Huobi marks an important collaboration between the Filecoin community and digital asset service providers. The two will jointly promote Filecoin’s academic research and technological development, and cultivate a stronger Filecoin ecosystem globally,” Wu added.

To help Filecoin develop globally, Huobi’s Filecoin Incubation Center and Ecosystem Fund will focus on the following key areas:

1. Incubation . Collaborate with existing Filecoin acceleration camps and incubators to provide additional courses by leveraging Huobi’s strengths in trading solutions and Asian communities.

2. Investment . Huobi will provide funding for promising projects in the Filecoin ecosystem, and Protocol Labs will provide technical guidance and support.

3. Community development . Huobi and Protocol Labs will jointly host global annual summits and quarterly gatherings to build a bridge of communication between developers, miners, users, and coin holders.

The incubation center will be managed by Sharlyn Wu, head of Huobi’s distributed business department. Sharlyn was previously responsible for China Merchants Bank’s international strategy and investment in the blockchain field and is currently Huobi’s chief investment officer. The incubation center is the second after Huobi DeFi Lab to help Huobi Group conduct research, investment, incubation and community management in the Filecoin ecosystem.