Glossary
FIL
Filecoin's native token — paid by clients for storage deals, earned by storage providers for honest storage proofs, and required as collateral to participate as a miner.
FIL is Filecoin's native token. Storage clients pay FIL for storage deals; storage providers (formerly called "miners") earn FIL block rewards for successfully proving they store the data they committed to. Providers must also lock FIL as collateral, slashable if they fail to maintain availability.
FIL launched via a 2017 ICO that raised ~$257M (one of the largest at the time). The mainnet launched in October 2020 with emissions following a halving-style schedule. FIL is one of the larger DePIN tokens by market cap and is increasingly used as on-chain collateral in DeFi markets.