When I first saw Filbonus program, I was so amazed by its product design as I sensed that it will solve the bottleneck problem on the development of Filecoin — FIL pledging problem.
As we know, mining FIL requires both mining machine/computing power and pledging FIL coin. For example, every 1T computing power added for filecoin mining, the cost for pledged FIL is much greater than that of mining machine. Protocol Labs, the project party of Filecoin by designing this mechanism, aims to curb the increase speed of mining power so as to balance the price rise and fall of FIL coin. However, this mechanism can easily fall into the whales game. That is, only whales who can buy mining machine/computing power and pledge a large amount of FIL coin can enjoy the super high interest of FIL coin mining. Don’t it similar to BTC mining that only whales, large capitals can mine BTC, while retail users can only purchase them on secondary markets for chances.
The born of Filbonus program totally changes the game. It allows the mass retail users to pledge FIL and join FIL coin mining directly. This is greatly in line with the purpose of the Protocol Labs who aims to unleash the power of all community users, so that every user can enjoy the interest of filecoin mining and finally, Filecoin can really be a decentralized storage project for all over the world!
It can be said that Filbonus Program helps realize the purpose of Protocol Labs and solves the possible risks of its “Pledge for Mining” model. Every Filbonus supporters (B Fans) shall be proud of participating in Filbouns program. We are sincerely gratitude for Filbonus creators and the efforts of users who’s promoting Filbonus.
Nevertheless, we must get rid of questions that whelmed around Filbonus investors.
First, is the annualized interest rate of Filbonus fixed?
The answer is no. Every Filbonus supporter (B Fans) shall learn and accept the dynamic filbonus interest rate only that Filbonus can develop together with Filecoin. The reasons are as follows:
- The Filecoin mining output is continually decreasing. This results in the continuous price increasing of FIL coin. Therefore, the Annualized Percentage Rate (APR)of Filbonus cannot be made to be a fixed figure.
- However, we should also see that, though the Filbonus APR is decreased from 80% to 40%, the price of Filecoin was increased from 21.7$ on Jan.6 (the initiating date of Filbonus) to 54$ now. So, the real APR of the early investors of Filbonus is not decreased but increased.
Second, will the APR of Filbonus become lower in the future as the block mining reward keep dropping?
The answer is also no. Every Filbonus supporters (B Fans) shall believe that Filecoin block mining is only at its very start. The real prosperous of Filcoin will be the advent of content mining and search mining. The details are as follows:
- Filecoin Plus is under its trial phase. Its aim is to upload the real and valuable data generated from businesses and corporations on the Filecoin storage network. When the aim come true, Filecoin content mining and search mining are enabled. This will bring greater interest than the current block mining reward, and this is a continuously increasing process.
- The package of real data will bring 10 times interest for the miners. Then, the interest of Filbonus will naturally increase. This will attract more new users to pledge FIL coin to join the mining.
- When HTTP was replaced IPFS and URL search was substituted by content search, the epoch of Filecoin comes. The mining interest will be upward further.
Third, when Filecoin mining becomes ubiquitous, will the demand for Filbonus be lower and the number of Filbonus participants be smaller?
The answer is also no. Every Filbonus supporter (B Fans) shall believe that “pledging FIL for mining” is the permanent strategy of Protocol Labs. It is estimated that over 85% of the 1.4 billion FIL mining incentives will be locked in the form of pledging. The circulating amount in the market will not be over 200 million FIL. By adopting this strategy, Protocol Labs guarantees a healthy market for Filecoin and the stable increase of FIL price. We observed that:
- The package of real data will bring 10 times mining interest for the miners. That is, the miners are able to earn 10 times interest by the same storage capacity. Besides, according to Filecoin mining mechanism, the pledged FIL shall also be 10 times greater. Therefore, when entering content mining age, the demand for pledging FIL will be hugely great!
- Protocol Labs gives us stern support and accepts our crowd fundraising mode for FIL mining. This will enable more retail users to join pledging FIL and earn high mining interest. In this way, FIL is accessible for all users, instead of falling into the whales game! Filbonus helps Filecoin to become a real decentralized storage project with decentralized community.
Last, some early Filbonus supporters may have question that “I am an early participants of Filbonus who, according to the former rules, can enjoy 80% annualized percentage rate. Can I still keep this APR without accepting the current dynamic interest rate of Filbonus”?
Whether from the objective fact or long-term benefits, the annualized percentage rate of Filbonus shall not be fixed. In other words, only every Filbonus supporter (B Fans) accept the fact can Filecoin be a vibrant and promising project in the long term. As we know, the interest of banks are dynamic. In this way, banks become the largest reliable financial service institutions and citizens feel free to deposit money in banks to earn interest. We should learn that only sustainable development kept by Filbonus can investors earn higher and long-term interest.
The Bottom Line
All in all, I firmly believe that Filbonus program is a marvelous experiment! Every Filbonus supporters (B Fans) shall not simply see Filbonus as a money-earning tool. It wisely integrated the marketing and financing concepts in traditional world into Filecoin, the phenomenal decentralized storage project, helping it building a decentralized, sharing and accessible community by all users. Time will finally prove Filbonus is phenomenal!
We have noticed that there’s some imitators of Filbonus in the market. They may learn the form of Filbonus, but they can never imitate the spirit of Filbonus. When they lift the APR to 80%, Filbonus is lowering the annualized percentage rate. This is the difference between the real B Fans and the short eye-sight investors. Every Filbonus spirit spreader and supporter should spread correct knowledge and investment philosophy in the market and fail the Filbonus imitators, plagiarists and scammers. Only in this way can Filbonus market in sustainable development and the spirit of Filecoin be advocated.
Filbonus is building its ecosystem. Let Filbonus be the best company of Filecoin!
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