What is Filecoin [IOU]?
Filecoin [IOU] (XFIL) is a tradable IOU token on Poloniex that entitles the users who hold XFIL at a specified time in the future to receive Filecoin (FIL). XFIL tokens on Poloniex will be locked up for 6 months following Filecoin’s mainnet launch, according to the token’s vesting schedule. At the moment that the tokens are unlocked, we will take a snapshot of all XFIL balances and distribute Filecoin (FIL) to customers at a 1:1 ratio. Learn more about XFIL on our Help Center.
What is Filecoin?
Filecoin aims to be a decentralized storage network that turns cloud storage into an algorithmic market. Filecoin is being developed by Protocol Labs and builds on top of InterPlanetary File System (IPFS) by serving as a layer for decentralized data storage, retrieval, and value transfer. Filecoin is currently in its testnet stage. Once live, Filecoin will run on its own blockchain. Its native protocol token, Filecoin (FIL), incentivizes miners to provide storage to clients. Filecoin users will also be able to spend FIL to hire miners who would then store or distribute data. Learn more about Filecoin on their website.
24hr Trading Volume: $57,059,745
7d Low / 7d High: $10.86 / $12.90
All-Time High: $30.56 (January 9, 2018)
All-Time Low: $1.47 (March 13, 2020)