Filecoin
FIL #84Project Safety Score: 45%
Updated 1 day, 6 hours agoRecord
Health
Security
Behavioral
& Liquidity
Filecoin is a decentralized storage network that enables individuals worldwide to serve as storage providers. By separating hard-drive space from other services, it creates a market for storage that operates on supply and demand dynamics, resembling a commodity.
The network encourages competition among storage miners based on reliability and price. This model supports a global marketplace for data storage, allowing users to store and retrieve data efficiently through a decentralized framework.
Risk Report
Cryptocurrency carries risk. Every project listed on this site, regardless of its score, operates in a volatile and largely unregulated market. Tokens can lose most or all of their value. A high score reflects lower structural risk based on the data we can measure. It does not mean a project is safe, that the price will hold, or that losses are unlikely. Always research independently and never commit money you cannot afford to lose.
Track record score 66 out of 100.
Filecoin demonstrates a solid history, having been operational for over six years. It has experienced one regulatory action, but its overall impact appears manageable. The project has had one historical incident, which is less concerning given its longevity. However, there are two notable red flags, indicating additional concerns that warrant attention from potential investors.
Economic design score 40 out of 100.
The economic structure of Filecoin has some potential vulnerabilities, especially as it lacks a hard supply cap, which raises inflation concerns. Additionally, only 40% of the total supply is currently in circulation, which can lead to future market fluctuations and impacts on scarcity. These factors may affect project stability and growth in the long term.
Developer health score 0 out of 100.
Filecoin's developer activity is critically low, receiving a score of zero. There are no GitHub stars, forks, or recent commits, indicating a lack of ongoing development and community engagement. This stagnation could hinder the project's ability to innovate or respond to market demands effectively.
Network security score 63 out of 100.
The network security of Filecoin is somewhat robust, supported by its market cap of approximately $855 million and a history of being operational for over six years. The presence of one historical incident raises some concerns, but the overall security rating suggests a fair level of resilience in its infrastructure.
Social behavioral score 40 out of 100.
Filecoin's social media presence shows mixed results. While it has a verified Twitter account, audience data is limited. Public sentiment is largely positive, with 90% of feedback being favorable. Nonetheless, the project faces several risks, including scam allegations and regulatory concerns, which may affect public perception and community support.
Adoption liquidity score 61 out of 100.
Filecoin presents a fairly healthy liquidity score, supported by a daily trading volume of around $549 million. It boasts an extensive presence in the centralized exchange market with 64 listings, 33 of which are recognized as trustworthy. This accessibility can facilitate easier trading and potential investor interest.
Investing in Filecoin carries inherent risks associated with the crypto market, including volatility and regulatory scrutiny. With flags related to security incidents and regulatory actions, potential investors should conduct thorough research before committing to this asset. It's crucial to weigh these risks against any potential rewards.
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Prior: Protocol LabsFounder and CEO of Protocol Labs, the company behind Filecoin.
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0.8
Filecoin's largest firm, Shikongyun, was investigated for fraud and pyramid schemes in China.CoinGape · source ↗
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SEC 2024-09-15Filed a lawsuit against Binance, naming Filecoin (FIL) as an unregistered security. ↗
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pyramid scheme 2023-11-01 · $50000000Chinese authorities dismantled a Shenzhen-based operation that lured thousands of retail investors with fabricated promises of 20-50% monthly yields from FIL mining hardware and staking, resulting in estimated losses of $10-50 million. ↗
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CoinGape · 2022-05-25
- ✓Strong market liquidity with a 24-hour trading volume of approximately $67 million.
- ✓Led by a reputable team with a documented professional background.
- ✗No recent code commits
- ✗No hard cap on total token supply
- ✗Regulatory action has been taken against this project
- ✗Public scam allegations have been raised
- ✗Less than 50% of supply is circulating
- ✗No hard supply cap, potential for inflation.
- ✗Only 39% of total supply in circulation, 61% remains locked or reserved.
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