Poloniex | Cryptocurrency Exchange | Buy Crypto
Poloniex | Cryptocurrency Exchange | Buy Crypto
Hello everyone. How are you today? May you always be in good health. I just received a message from poloniex via Gmail which was notified in the incoming message that Filecoin [IOU] (XFIL) was available at Poloniex. I just want to tell you everything today and I hope this will be useful information for all of you.
What is Filecoin?
Filecoin aims to become a decentralized storage network that can turn cloud storage into an algorithmic market. Filecoin is also being developed by the Protocol Lab and is built on the InterPlanetary File System (IPFS) by functioning as a layer for storing, retrieving, and transferring decentralized data values. Filecoin is currently in the testnet stage. Afterlife, Filecoin will run on its own blockchain. The original protocol token, Filecoin (FIL), provides incentives for miners to provide storage to clients. Filecoin users will also be able to use FIL to recruit miners who will then save or distribute data. Learn more about Filecoin on their website.
What is an IOU token?
IOU which can allow users to buy, sell and hold original blockchain tokens that have not yet aired with its last public network ("mainnet"). By creating a market for IOU tokens, price discovery for the underlying asset can occur before the asset can be transferred over a direct network. After the mainnet main asset is launched, users will be distributed a number of new assets according to the number of IOU tokens they hold at a certain point after the mainnet launch date (with a ratio of 1: 1).
What is XFIL?
Filecoin [IOU] (XFIL) is an IOU token that can be traded on Poloniex that gives users the right to hold XFIL at a certain time in the future to receive Filecoin (FIL).
How can I withdraw XFIL?
XFIL cannot be saved or withdrawn from your account. The deposit and withdrawal functions will be displayed as "Disabled" in the Poloniex user interface.
How do I claim my Filecoin?
The XFIL token in Poloniex will be locked for 6 months after the launch of the Filecoin mainnet, according to the token schedule. When the token is opened, we will take a snapshot of all XFIL balances and distribute Filecoin (FIL) to customers at a ratio of 1: 1. FIL distribution will occur within 2 weeks after the end of the locking period.
Why do I want to trade XFIL?
Filecoin (FIL) has become a highly anticipated token. By trading XFIL, you can participate in the FIL price discovery before Filecoin launches its mainnet. Additionally, holding XFIL at the time of our balance snapshot will give you access to the FIL mainnet token.
When does Filnet's mainnet go live?
While Poloniex cannot guarantee a launch window for Filecoin, it is anticipated that the Filecoin mainnet will be launched by the end of 2020.
Maybe that's all I can share with you all. For more details, you can read it here.
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