Gate.io has finished today’s FIL release based on users’ FIL6 tokens holding. About 13K FIL in total has been released. You can view how many FIL you’ve received at My Billing Details page.
Following the FIL mainnet launch, a portion of FIL6 will be unlocked every day. Gate.io will swap about 0.55% of FIL6 for FIL on a daily basis according to the FIL release scheme (we will increase the release rate according to onchain release conditions). During the time of swap, if a user’s FIL6 available balance is insufficient, swap of that day will be skipped.
Gate.io has enabled Filecoin （FIL） spot trading, margin trading, perpetual contract trading, deposit and withdrawal. We have also added support for FIL leveraged ETFs.
Deposit FIL at: https://www.gate.io/myaccount/deposit/FIL
Sport trade FIL: https://www.gate.io/trade/FIL_USDT
Perpetual contract trading:https://www.gate.io/futures_trade/USDT/FIL_USDT
FIL margin lending: https://www.gate.io/margin/lend/FIL
Risk Warning Regarding the Overall FIL Mainnet Release
FIL mainnet tokens entering circulation are mainly from unlocked tokens allocated to the FIL team and early investors, as well as miners’ rewards. According to the current release schedule, 50 million FIL will be released over the course of 3 months, and over 0.1 billion to be released over 6 months (the numbers stated are based on our estimations, which may vary from the actual release). At its early stage, FIL circulating supply will be limited but will quickly increase. The limited supply and high demand may drive the price too high and the increasing supply later may pose increasing pressure on the market price.
Furthermore, there are currently several FIP proposals being discussed, e.g. FIP003, proposing to increase the initial release ratio for miner's’ rewards. The proposal is still under discussion and has not been approved yet. However, proposals can impact circulation and affect FIL’s price. Please keep an eye on such changes. Learn more about Filecoin proposals at https://github.com/filecoin-project/FIPs/tree/master/FIPS
About IPFS 6-month (IOU) on Gate.io
The FIL 6month (IOU) tokens, FIL6, 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. It is now the largest FIL exchange in the world. 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 blockchain 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.
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.
November 9, 2020
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