Distribution mechanism of Filecoin token FIL

Basic Situation

Total: 2 billion

ICO accounts for 10% (public offering + private offering) 200 million pieces, total amount: 257 million US dollars, linear release in 6~36 months

Miners account for 70% of the total, about 1.4 billion coins, which are distributed gradually as block rewards based on the progress of mining and are halved every 6 years.

Protocol Labs will use 15% as R&D expenses, which will be released linearly over 6 years.

5% of the Filecoin Foundation will be used as long-term community construction, management and other expenses, and will be released linearly over 6 years.

Private placement

Time: 2017.7.21 ~ 2017.7.24

Cost: $0.75/FIL (same price for all private placements)

Distribution period and discount: 1 year - 3 years, discount 0 - 30% (minimum distribution period is one year)

Number of participants: About 150 people

Private placement amount: Approximately $52 million

Public Offering

Time: 2017.8.7 - 9.7

Cost range: $1 - $5

Distribution period and discounts: 6 months (0%), 1 year (7.5%), 2 years (15%), 3 years (20%)

Public offering amount: US$205 million

Number of participants: 2100+