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B- Investment Grade



Filecoin is a decentralized digital storage marketplace, protocol, and cryptocurrency. The project launched its mainnet in October of last year, following a $250M token offering in 2017.

The project aims to disrupt the public cloud market. Instead of hosting files on centralized servers like Amazon, Filecoin encrypts these files and hosts them across a large computer network.

According to the project, this should significantly decrease the storage costs for end users and make the data much safer.

Filecoin was developed by Protocol Labs. The company is also known for developing the InterPlanetary File System or IPFS. The technology allows users to receive and host content in a manner similar to BitTorrent. For example, IPFS was used to create a mirror of Wikipedia, allowing users in countries where the website is blocked to access the content of Wikipedia.

Filecoin is built on top of IPFS, where FIL (Filecoin’s native token) acts as a payment token that connects buyers and sellers in the IPFS ecosystem.

The project’s mainnet launch was arguably one of the most anticipated crypto events of the last year. Filecoin has attracted a large community of supporters, especially in China. Chinese investors heavily invested in Filecoin mining hardware, betting on the project’s future success.

The initial hype around the project significantly affected the token price on the first day of trading. On some exchanges, the token was trading for over $100. However, after the initial craze, the price steadily decreased to under $30, leaving many investors disappointed.

While the project aims to disturb a massive market, it is important to remember that it is only starting its journey. For Bitcoin, it took more than ten years to achieve the recognition it has today.

Similarly, for Filecoin, it will likely take years to achieve recognition and widespread adoption. It is competing in a very tough market with giants such as Amazon and Microsoft.

So, for the people who are here to make quick short-term gains, Filecoin is likely not the best investment. However, for the long-term investors, Filecoin could be a good bet. If successful, it will become a true leader in the decentralized cloud storage market and significantly grow its valuation and market share.

Buy recommendations for smaller market cap coins with strong fundamentals and high growth potential

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Convex’s business model is built on Curve, a DeFi blue chip that continues to be one of the market leaders. It repackages Curve’s governance into a liquidity bootstrapping product that is already being used by projects like Abracadabra and Alchemix, and there is potential for more projects using it down the line. Ergo, Convex is one of the few examples of business-to-business models in crypto.

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