Filecoin nears the end of its six-year vesting schedule, cutting FIL issuance by about 75%

Filecoin is about to turn off its biggest token faucet. The six-year vesting schedule for Protocol Labs and the Filecoin Foundation ends on October 15, 2026, and it takes roughly 66.7 to 68 million FIL of annual new supply with it. At the latest mining pace, yearly additions from vesting and block rewards combined would drop from about 89 million FIL to 21 million. That is a cut of roughly 75%. What’s actually ending When Filecoin launched in October 2020, two insider allocations were set to unlock in a straight line over six years. Protocol Labs, the company that built the network, received 300 million FIL. The Filecoin Foundation received 100 million FIL. Split 400 million FIL across six years and you get the roughly 66.7 to 68 million FIL per year that is about to disappear from the issuance schedule. Once it stops, gross annual issuance is expected to fall from an estimated 88 to 89 million FIL to around 21 to 22 million FIL, depending on mining pace. All of that would come from block rewards. Storage providers are paid under Filecoin’s dual minting model. That model has two parts: a “simple” component that releases tokens on a fixed decay schedule, and a “baseline” component t...