Good news for miners, Filecoin economic coefficient update

1. The baseline initial value is raised and the growth rate is lowered to provide more lasting incentives for economic development.

Before this, after the mainnet is launched, when the total network computing power exceeds the network baseline (1EB), the reward will drop significantly. This adjustment of the network baseline will be more conducive to increasing miners' income.

2. The block reward unlocking delay of 20 days will be removed, and the unlocking will start as soon as mining begins.

After miners mine a block, they will directly unlock it linearly for 180 days. Compared with before, miners will obtain tokens in a shorter time.

3. Sector fault detection fees and sector termination fees are reduced to reduce miners’ operation and maintenance risks.

The reduction in fees reduces the burden on miners and reduces operational and maintenance risks.

4. The minimum storage order pledge is lowered, making paid orders more attractive.

If the storage order pledge is too high, miners will likely give up paid orders and choose simple supply and benchmark supply rewards due to the trade-off between risks and benefits, which is not good for paid storage. The reduction of the minimum storage order reduces the risk of paid storage, increases the enthusiasm of miners to accept paid orders, and contributes to the development of the entire distributed storage ecosystem.

5. The sector failure fee is actually low, but it will not be increased for the time being because the network is in its early stages.

Officials believe that the current sector failure fees are too low and may be raised later.