Filecoin is an open-source crypto and digital payment system intended to be the decentralized version of Dropbox or AWS. It's a cool idea with a fun website, but the vesting schedule appears to be inflating the price of FIL tokens since its launch on October 15, threatening its total storage capacity and incentives. It was created by Protocol Labs and builds on top of the InterPlanetary File System, allowing users to rent unused hard drive space. Filecoin will have to fix its tokenonics if it wants to be successful because miners are having trouble buying its required FIL tokens affordably. On its website, Filecoin advertises that the more storage that is added, the more filecoin miners can earn. But some of the top miners are making upwards 10,000 FIL a day by burrowing FIL from Filecoin investors with as high as 40% APR to enhance their earning abilities. Now the market dynamics are such that the largest of the operators just can’t get enough of them cheaply to operate their machines, and the market is making them pay a hefty price for the tokens. The token’s price skyrocketed to $114 when the mainnet launched on October 15 and is trading around $30 at the time of writing. This is still too rich for many miners who have already invested a lot of money into hardware. Filecoin raised over $200 million in an initial coin offering back in 2017 and is backed by Sequoia Capital, Andreessen Horowitz, Union Square Ventures, and other investors. Hopefully this is only a short-term problem from Filecoin.