{"id":1475,"date":"2020-10-19T20:52:51","date_gmt":"2020-10-19T17:52:51","guid":{"rendered":"https:\/\/icospeaks.com\/news\/?p=1475"},"modified":"2026-01-04T10:16:10","modified_gmt":"2026-01-04T07:16:10","slug":"filecoin-releases-rewards-earlier-shortly-after-miners-went-on-strike","status":"publish","type":"post","link":"https:\/\/icospeaks.com\/news\/filecoin-releases-rewards-earlier-shortly-after-miners-went-on-strike\/","title":{"rendered":"Filecoin Releases Mining Rewards Early After Strike"},"content":{"rendered":"

Less than a week after the mainnet launch<\/a> on October 15, Filecoin miners have turned their machines off complaining that the entry barrier is too high and the resultant economic model isn’t viable or incentivized enough for them to participate. This has prompted the project\u2019s team to release 25% token rewards in advance, for miners providing processing power.\u00a0<\/strong><\/p>\n

The strike action came shortly after the five largest Filecoin miners refused to continue, citing reasons that the project is being run in an unfair manner and that they run a significant risk of losses by proceeding with it. Moreover, there were concerns even before the mainnet launch, which are now coming true. But what\u2019s the issue at hand?<\/p>\n

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@filecoin<\/a> has transitioned from calibration net to mainnet at block 148,888 after a 200M ICO and 3 years of dev.<\/p>\n

Within 24h of launch a majority of miners are already on strike and talk about a failed wedding and forks.<\/p>\n

Why? (1\/n)<\/p>\n

— Nico Deva (@NicoDeva_) October 18, 2020<\/a><\/p><\/blockquote>\n