📄️ Background on Filecoin
Filecoin is one of the largest and pioneering DePIN that works as a global marketplace for cloud and storage services. Each Filecoin miner is a service provider on the network and the Filecoin protocol requires each miner to put up Filecoin collateral (pledge) to guarantee their storage reliability. The protocol checks on the reliability of all storage on a daily basis and miners’ collateral may be subject to slashing if they fail such checks.
📄️ pFIL: Parasail Filecoin Incentive Pool
Parasail Filecoin is a set of smart contracts implemented on the Filecoin Virtual Machine. It is an Incentive Pool for miners on Filecoin to opt in and for stakers to delegate their Filecoin to. It removes idiosyncratic risks across different Filecoin miners and lowers the complexity for Filecoin stakers to earn a share of the protocol rewards.
📄️ Safe Pledge: pFIL Service Level
Safe pledge is the portion of pledged FIL in a MinerActor that should not be affected by any mining penalties. It ensures that each pFIL is always backed by a pledged FIL. Every pFIL minted must be backed by 1 FIL worth of “safe” asset pledged to the protocol. The safety of these assets will be compromised if the underlying assets are slashed due to miner faults. In the rare event that the miner is continuously faulting, a forced termination is a necessary risk control measure to ensure that the liquidated assets are sufficient to continue backing pFIL.
🗃️ Minting pFIL
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🗃️ Acquiring pFIL
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🗃️ pFIL Auction
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