Filecoin baseline changed. How many coins can miners mine every day after the mainnet goes online?

Filecoin baseline changed. How many coins can miners mine every day after the mainnet goes online?


At noon on the 12th, Filecoin completed an important upgrade, and the block reward was changed from 15 FIL to 10.5 FIL. The reason for the reduction in rewards is that the baseline standard of Filecoin's economic model was adjusted from the original initial value of 1EB to 2.5EB. So, after the baseline adjustment, how much will miners produce when the main network goes online?

Filecoin distribution model:
  • Miners: 55%, released linearly through block rewards to reward maintenance of blockchain and running contracts;

  • Miner reserve: 15%, used by the network to provide incentives to other categories of miners, such as retrieval miners, maintenance miners, etc.

  • Protocol Labs: 10.5% , used as the R&D and operating expenses of the Protocol Labs team, to be released linearly over 6 years;

  • PL team contributors: 4.5%, mainly referring to the Protocol Labs team and other major contributors;

  • Investors: 10%, allocated to investors participating in private and public offerings, and released linearly over 6-36 months;

  • Foundation: 5%, used as the cost of long-term community construction, network management, etc., to be released linearly over 6 years.

According to the latest official adjustment of Filecoin, the FIL tokens obtained from mining will be released linearly on a 180-day basis, and the baseline will be adjusted to 2.5EB. The FIL supply is divided into simple supply and baseline supply, of which the simple supply is 30% of the originally planned daily total supply.



The amount of Filecoin released in the first year: According to the function model of gradually decreasing with the block and halving every 6 years, the block reward released in the first year is 155.1 million, an average of 424,900 per day. 30% simple casting, 70% benchmark casting, before reaching 2.5EB, 424,900 times 30% per day, that is, 127,470 coins , which will inevitably be issued every day.


The computing power, pledge, and block rewards of Space Race 1 and 2 will be transferred to the main network. The network has now reached 520PB, completing 1/5 of the baseline. 1/5 multiplied by 70% multiplied by 424,900 is about 59,490 coins. This part of the release plus 127,470 coins is about 186,960 coins. When the main network is launched, the daily mining of FIL coins is about 186,960 coins.


Then, we only need to know the proportion of the total network computing power of the purchased manufacturer to calculate the daily production of each ton of currency after the current economic model is adjusted. It is estimated that 186,960 coins multiplied by the proportion of the total network computing power of the purchased manufacturer, and then divided by the total computing power of the changed manufacturer, can get the production of currency.



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