Want to buy FIL futures? Take a look at this first

Futures are a trading method that spans time. The two parties to the transaction do not have to deliver the physical goods at the beginning of the transaction, but agree to deliver the physical goods at a certain time in the future, so it is called "futures".

The FIL6 mentioned above means that the lock-up period of Filecoin is 6 months. There is a lock-up plan when Filccoin is raised, and the lock-up period is 6 months, 1 year, 2 years, and 3 years respectively. The token distribution time starts from the date when the Filecoin mainnet is launched. The lock-up period mentioned above is not rigorous. Taking June as an example, the tokens will be distributed within 6 months after the mainnet is launched, not all at once after 6 months.

Some miners have consulted Filecoin officials about FIL futures, and the official has made it clear that Filecoin cannot be bought or sold before the mainnet is launched. You can check the official investor warning statement on the blog: During and after the sale of Filecoin tokens, we have seen parties claiming to sell Filecoin SAFTs or tokens, and exchanges listing Filecoin and Filecoin derivatives. Remember that Filecoin tokens will only take effect after the mainnet is launched, and any exchange that lists Filecoin tokens or IPFS tokens now may be fraudulent. We will announce on the Filecoin blog when the Filecoin mainnet and tokens will take effect. Until then, we strongly recommend that you stay away from any exchange or entity claiming to buy, sell, or trade Filecoin or IPFS SAFTS, tokens, or derivatives.

Many domestic investors, including exchanges, participated in Filecoin's ICO fundraising. Now we see that the FIL futures circulating on some exchanges are derived from the ICO shares they participated in. They packaged their ICO shares into FIL futures products and put them into circulation on the exchanges.

According to the requirements of the SAFT agreement, if Filecoin fails to launch the mainnet and release FIL within the agreed time, ICO investors will receive compensation within the scope of legal protection. FIL futures listed on exchanges are completely backed by the credit of the exchange and the original investors who provided the ICO shares, which involves certain acceptance risks. Currently, exchanges vary in quality and face fraud, running away, and other behaviors. The time and payment risks are greatly increased. Generally speaking, FIL futures are not suitable for long-term investment.