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IPFS Filecoin (6 month IOU) To FIL6 Swap ~ Finished! FIL6 Trading Launch

2020-10-10 18:39:33Read:50465

Gate.io has finished the swap from IPFS Filecoin (Filecoin 6 month - IOU) to FIL 6 on the spot market. The FIL 6 trading has now resumed. Please pay close attention to price changes and adjust your ask or bid accordingly. When the mainnet goes live, FIL6 will be swapped for mainnet FIL coin according to the release schedule on a daily basis. We will commence trading for FIL mainnet coin at the earliest time possible when the IPFS Filecoin network launches.
Gate.io has now finished the FIL mainnet integration. You can generate a mainnet address on the deposit page now. When the mainnet coin is transferable, you may deposit your FIL to Gate.io and participate in FIL trading.
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About the release schedule of Filecoin 6-month (IOU):
According to IPFS Filecoin official, Filecoin mainnet is going to launch at block Epoch 148888, around October 15th, 2020. Following the mainnet launch, FIL 6month will be released linearly, at a rate of 0.55% per day, and fully released in 180 days (Released portion is transferable). To make sure the release process is fairly and openly, we will take the following measure with respect to IPFS 6-month (IOU) and the upcoming mainnet FIL.

1)Prior to mainnet launch, we will stop IPFS 6-month (IOU) trading on October 10th, 10:00 AM UTC, swap FIL (IOU) tokens to FIL6 tokens on Gate.io; Change market pair to FIL6/USDT. This process may take about 1 hour. After that, FIL6/USDT trading will be resumed. Users do not have to do anything in particular, no matter if you are a FIL(IOU) trader, lender or borrower. However, if you are worried about any price fluctuations during this period, please cancel your order ahead of the change.

2) On October 12th, 10:00 AM, we will suspend the FIL/USDT perpetual contract market and change to FIL6/USDT. The change may take about 30 minutes. Users do not need to do anything in particular. If you are worried about any liquidation risks or price fluctuations during this period, please close positions or cancel orders in advance.

3) When FIL mainnet launches, we will commence FIL trading and enable FIL deposit and withdrawal at the earliest time possible. Estimated time of mainnet launch is around October 15th to October 16th, according to the FIL team.

4) After mainnet launch, users can continue trading FIL6 tokens, and we will swap FIL6 token to FIL mainnet token based on the FIL release schedule (0.55% per day) on a daily basis. If a user’s FIL6 balance is insufficient during the swap on a given day (due to asset locked in open orders or other reasons) , the swap on that day is skipped. The swap start is determined by when we receive the mainnet tokens, estimated around October 16th, 2020.

About IPFS 6-month (IOU) on Gate.io

The FIL (IOU) tokens, FIL6month, traded on Gate.io were transferred in by willing users of Renrenico in 2017, which has the shortest vesting period among all the FIL tokens publicly offered to investors by IPFS. The current circulating supply at Gate.io is 2.4 million tokens. Since 2017, Gate.io has been supporting FIL trading for 3 years and is now the largest FIL exchange in the world. And we hereby make it clear that Gate.io has never had any partnership with any mining services.

According to IPFS Filecoin official, Filecoin mainnet is going to launch at block Epoch 148888, around October 15th, 2020. When the mainnet goes live, the public offered FIL token will be released linearly, per bockchain block, and according to the vesting period. For example, FIL (IOU) at Gate.io will be released at a rate of 0.55% per day after the mainnet launches, and fully released in 180 days. FIL (IOU) at GATE.IO is the FIL token for investors with the shortest vesting period.

Read more about Filecoin mainnet launch at:https://filecoin.io/blog/mainnet-ignition/

Gate.io has finished FILcoin mainnet integration. Deposit will be available immediately after mainnet launch. By that time, you may deposit your FIL to Gate.io and participate in the largest FIL exchange. We will also enable withdrawal at the earliest time possible.

Deposit FIL at: https://www.gate.io/myaccount/deposit/FIL (available after mainnet launches )
Trade FIL at: https://www.gate.io/trade/FIL_USDT




Gate.io is an established exchange that holds integrity, transparency, and fairness to a very high standard. We charge zero listing fees and only choose quality and promising projects. Our exchange consists only of 100% real trading volume. Thanks to everyone who has joined us in our journey. We always intend to improve and innovate to reward our users for their continuous support.


Gate.io Team
October 10th, 2020

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