Fenbushi Capital cooperated with Protocol Labs to announce the investment of 15-20 million US dollars in the IPFS and Filecoin ecosystem. The mission of the fund is to promote the development of the IPFS and Filecoin ecosystem.
The distributed plan raises 15-20 million US dollars, and is committed to raising and deploying FIL instead of all funds in stablecoins or other encrypted assets. Fenbushi has invested $1 million in the fund with other partners
In addition, the current FIL currency trend is under the official or unintentional control in the initial stage of the ecological layout. However, as the project progresses, the official use of the ecological bargaining chip will become less and less, and more FIL coins will be dispersed in the market. At this time, the government is also powerless, impossible, and unnecessary to control market trends.
At present, Filecoin is like a newborn baby and needs constant care. When it gradually grows and matures, everything is regulated by the market. Obviously, it is not yet. This is a gradual process, and it also meets the needs of the current Filecoin development.
The value of IPFS&Filecoin is to develop and improve the ecosystem. More long-term capital is optimistic and joins the Fil project, which is also where the value of FIL currency is determined.
The field where Filecoin is located is the "blockchain land house", that is to say, Filecoin is the infrastructure of the block chain, the bearer of the "data life" of the block chain, and aims to solve the privatization of human privacy , Changing the way the world accesses Internet data.
Fund details
Fenbushi plans to raise US$15-20 million for the fund. At present, Fenbushi and other partners have invested US$1 million in the fund. Fenbushi promised to allocate all the funds raised to FIL.
Distributed predicts that there are three major sources that can be used to determine target investment transactions.
Slingshot
expects that the Slingshot program initiated by Protocol Labs will provide a powerful channel for potential investments. The first phase of Slingshot has ended, and more than 100 projects have submitted applications.
LongHash Filecoin Frontier Counter
Singapore-based LongHash Ventures recently announced the 12-week Filecoin Frontier Accelerator. Fenbushi and LongHash have been working closely together in the past few years, and Accelerator's more than 150 applications are expected to bring potential investment transactions to the Fenbushi Ecosystem Fund.
Chinese community
The Chinese community is not only interested in the mining industry. There are many teams in China using IPFS and Filecoin to develop applications. We have seen prototypes from some of these teams and expect that trading opportunities will increase. V zhang228289
Fenbushi Capital will be responsible for all aspects of financial management related to the Fenbushi Ecosystem Fund, and Protocol Labs will assume the role of technical consulting. The fund charges a 2% management fee and 20% interest every year for a period of 5 years. Fenbushi's investments will include global tokens and equity investments, and the fund will not be limited to any specific jurisdiction.
Fund background
In 2017, Fenbushi invested heavily in Filecoin during the public sale. Since then, Fenbushi has been helping Chinese miners develop their mining capabilities by offering equity to them. Fenbushi also served as an early investor in Ethereum. After observing the growth of Ethereum in the past five years, Fenbushi plans to similarly participate in the construction of the Filecoin ecosystem through the Ecosystem Fund.
An interesting fact is that Filecoin is more famous and most popular than Bitcoin in China's "third-tier" and "fourth-tier" cities. Distributed storage system technology has become a trend, not just a fashion. Many important companies have begun to adopt the IPFS ecosystem in their data storage business. Fenbushi's goal is to close the fund by early February and launch it in March 2021.