Kraken to list Filecoin as of October 15
Crypto exchange Kraken has announced that Filecoin (FIL) will be listed on the exchange starting October 15.
This will be a “mainnet listing,” meaning that trading will begin as soon as possible after the Filecoin mainnet goes live and transfers are enabled on the network.
Mainnet listings may be extremely volatile, which Kraken said can present a great opportunity for experienced traders and investors. However, more novice traders are advised to exercise extra caution.
What is Filecoin (FIL)?
The Filecoin project aims to provide a decentralized file sharing and storage service. While not the only project with this goal, Filecoin may be the most widely anticipated, having one of the industry’s largest funding rounds ($257 million in 2017).
The team behind the project claims that with sufficiently large adoption, it could become the fastest and least expensive option to store data online. Further, being decentralized, it will be highly resistant to censorship.
The Filecoin network is maintained by miners who provide the required computational power and storage space. Miners are compensated through the fees paid by Filecoin users for storage and retrieval of data.
Project website: https://filecoin.io/
What time will funding and trading start?
Deposit addresses: Clients will be able to generate FIL deposit addresses starting at approximately 13:30 UTC on October 15, but deposits will not be possible until funding is enabled.
Funding: Funding will be enabled shortly after the Filecoin mainnet goes live. The Filecoin mainnet is set to start at block 148,888 which is expected at approximately 14:45 UTC on October 15.
Trading: Since sell orders cannot be placed until deposits credit, trading will begin after the first FIL deposits credit. 300 confirmations are required for deposits to credit, meaning that trading will start approximately 2.5 hours after funding is enabled. The initial trading minimum is 0.125 FIL.
Updates will be posted on Kraken’s status page near launch time.