Filecoin Vesting to End in October, Slashing New FIL Supply by 75%
Summary
- Filecoin said annual new FIL supply will likely fall by about 75% as vesting of early token allocations ends.
- Filecoin said simulations showed daily net supply growth by the end of 2027 could drop by about 86% to 119% from August 2026 depending on burns and collateral deposits, with a possibility that net supply could turn negative.
- Filecoin said the rollout of FIP-0118 Solstice and rising paid storage usage could change the token’s supply-demand dynamics.
Forecast Trend Report by Period
Filecoin’s new FIL supply is poised to drop sharply in October as vesting of early token allocations, the network’s largest source of supply since launch, comes to an end. The change is set to reduce annual new issuance by about 75%.
A Sept. 4 post on the Filecoin blog said FIL vesting tied to Protocol Labs and the Filecoin Foundation will end on Oct. 15. About 66.7 million FIL is currently entering the market each year through vesting, while block rewards add about 21.7 million FIL.
After vesting ends, new supply will consist only of block rewards of about 22 million FIL a year. That is slightly more than 2% of the current circulating supply. Filecoin said total new issuance would be about 75% lower than current levels.
Growth in circulating supply could slow even further depending on token burns and collateral deposits. A Filecoin tokenomics simulation showed daily net supply growth by the end of 2027 could decline by about 86% to 119% from August 2026, depending on network conditions. In scenarios with larger supply reductions, the amount of FIL burned or locked could exceed newly circulating tokens, potentially pushing net supply into negative territory. Filecoin said the figures were simulation results, not forecasts.
The network is also pursuing changes that would tie token rewards more closely to demand. Filecoin’s FIP-0118 proposal, known as Solstice, would direct part of block rewards to services that increase real paid usage, while burning those tokens if on-chain payment volume fails to meet a set threshold. The proposal was approved in September and is awaiting inclusion in a future network upgrade.
On the demand side, paid storage usage is increasing. Annualized revenue based on on-chain payments for Filecoin Onchain Cloud, or FOC, rose to $59,327 at the end of August from $663 in January. The number of users making actual payments increased to 119 from 73 over the same period.
Filecoin also launched its enterprise storage service, Fil One, in June. The Amazon S3-compatible storage service costs $4.99 per terabyte a month and does not charge data egress fees.
Filecoin said the combination of a sharp drop in new FIL supply after vesting ends and rising paid network usage could reshape the token’s supply-demand dynamics.
