Filecoinʼs token distribution is broken down as follows
- A maximum of 2,000,000,000 FIL will ever be created, referred to as FIL_BASE.
- Of the Filecoin genesis block allocation, 10% of FIL_BASE were allocated for fundraising.
- 7.5% were sold in the 2017 token sale.
- 2.5% remaining were allocated for ecosystem development and potential future fundraising.
- 15% of FIL_BASE were allocated to Protocol Labs (including 4.5% for the PL team & contributors).
- 5% of FIL_BASE were allocated to the Filecoin Foundation.
- The other 70% of all tokens were allocated to miners, as mining rewards, “for providing data storage service, maintaining the blockchain, distributing data, running contracts, and more.” There are multiple types of mining that these rewards will support over time; therefore, this allocation has been subdivided to cover different mining activities. A pie chart reflecting the FIL token allocation is shown in the following Figure.
Figure 1: Maximum and Minimum Minting from Storage Mining.
Figure 2: Network Storage Baseline for Max Baseline Minting on Log Scale.
As such, effective token minting from mining is in the hands of the community and falls anywhere between the two lines in Figure 1. Figure 2 provides a sense of how much the network needs to grow to hit maximum minting.
While the community may come together to update the baseline of the network, hitting the baseline requires competitive collaboration among all stakeholders, researchers, miners, developers, token holders, ecosystem partners, and storage clients.