Validators process transactions, store information, and receive fees from users (supply-side fees).

Filecoin is a smart contract platform and a data storage network (a blockchain). Filecoin was founded by Juan Benet and launched in 2014.

FIL holders own and govern the protocol. They currently take a cut of the total base fees, miner tips and overestimation fees paid by users and a cut of provecommit batch fees, precommit batch fees and penalty fees paid by miners (revenue). Filecoin’s investors include IOSG Ventures, Winkelvoss Capital, a16z, etc.

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Blockchains (L1)

Filecoin

# Filecoin Token incentives Methodology

## 1. Overview

This metric measures the daily amount of FIL tokens distributed as blockchain incentives on the Filecoin network. It tracks two primary categories of token incentives: newly mined FIL tokens and FIL tokens distributed from the protocol's reserve fund. The metric provides insight into the daily token issuance and distribution patterns that incentivize network participation and growth.

## 2. Data sources

- **Filecoin blockchain rewards data**: Scraped cumulative rewards data from Filecoin blockchain containing daily snapshots of total FIL mined and FIL distributed from reserves
- **Token price feeds**: End-of-day price feeds from CoinGecko for FIL token to enable USD conversion
- **Token metadata**: FIL token symbol and CoinGecko identifier for price lookup and standardization

## 3. Step-by-step calculation

### Component A: Raw incentive data extraction
- **Purpose**: Extracts and structures raw cumulative incentive data from Filecoin blockchain
- **Logic**: The system processes scraped rewards data containing cumulative amounts for two incentive types. Each incentive type is extracted as a separate record with consistent metadata including chain identifier, component name, token symbol, and CoinGecko identifier. The `mined_fil` column represents cumulative FIL tokens mined through block production, while `reserve_disbursed_fil` represents cumulative FIL tokens distributed from the protocol's reserve fund.
- **Key fields**: `timestamp` for daily snapshots, `mined_fil` for cumulative mined tokens, `reserve_disbursed_fil` for cumulative reserve distributions, `token_symbol` as 'FIL', `coingecko_id` as 'filecoin'

### Component B: Cumulative to incremental conversion
- **Purpose**: Converts cumulative token amounts to daily incremental values
- **Logic**: Since the source data contains cumulative totals, the system calculates daily incremental amounts by subtracting the previous day's cumulative value from the current day's cumulative value using a window function. For the first record in each incentive type series, the full cumulative amount is used as the initial daily value. This conversion is performed separately for each contract name to ensure accurate daily calculations.
- **Key fields**: `amount` as the calculated daily incremental value, partitioned by `contract_name` and ordered by `daily_timestamp`

### Component C: USD conversion and standardization
- **Purpose**: Converts FIL token amounts to USD values and applies standard formatting
- **Logic**: The daily FIL token amounts are converted to USD using end-of-day prices from CoinGecko price feeds. The system matches FIL tokens using the CoinGecko identifier and applies the appropriate exchange rate for each daily timestamp. Standard metadata is applied including business line classification as 'Blockchain', market sector as 'blockchains_l1', and business segment as 'blockchain'.
- **Key fields**: `token_incentives` as the USD-converted daily amount, `daily_timestamp` for the calculation date, `chain` as 'filecoin'

### Final aggregation
- **Combining components**: The two incentive types (FIL mined and FIL distributed from reserve) are maintained as separate records in the final dataset, each representing a distinct source of token incentives
- **Currency conversion**: FIL token amounts are converted to USD using end-of-day CoinGecko prices matched by the 'filecoin' CoinGecko identifier
- **Time aggregation**: Data is aggregated at daily boundaries with timestamp grain set to 'day'
- **Final calculation**: The metric represents the daily USD value of token incentives distributed on Filecoin, calculated as the sum of newly mined FIL tokens and FIL tokens distributed from reserves, converted to USD using end-of-day exchange rates. Missing data points are filled with zero values to ensure complete time series coverage.

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Value of native tokens distributed as incentives.

FilecoinFIL

Token incentives

Token incentives

Competitive landscape