InterPlanetary File System (IPFS) is a global, peer-to-peer distributed file system. It seeks to complement (or even replace) the hypertext transfer protocol (HTTP) that currently dominates the Internet and connect all computing devices with the same system of files. Instead of using location-based addressing, it uses content-based addressing, that is, what the user needs to look for is not an address but content stored somewhere, and no authentication of the sender’s identity is required, but only the hash of the content needs to be authenticated. This can make web pages faster, safer, more robust, and more durable. Filecoin is not only a network that links computers, but also a network that links individuals and organizations. Our goal is to make Filecoin to have a huge value in the future, and we wish to attract investors who are also interested in long-term value to share the fruits of our future. There are many uncertainties in the lock-up period, but the team still hopes that all investors can focus on the long-term development of the project. Therefore, Protocol Labs and Filecoin Foundation will take the lead by implementing a six-year lock-up period. For small investors, they may have difficulty accepting fluctuations in token prices during the lock-up period. Therefore, we offer different discounts for different lock-up periods, and investors can determine their lock-up period based on their risk tolerance: At least 1 year ( ), at least 6 months ( ): 6 years, linear vesting: 6 years, linear vesting: : In a half-decay manner, 6 years is a cycle; 6-year lock-up period, 0% discount off; 1-year lock-up period , 7.5% discount off; 2-year lock-up period, 15% discount off; 3-year lock-up period, 20% discount off; Each participating group is essential for the creation, openness, growth and maintenance of the network: maintaining data storage, maintaining blockchain, distributing data and implementing contracts, etc. Used for research, engineering, development, business development, marketing, distribution, etc. Providing funds for network development, business development, partnerships, support, etc. Used for long-term network management, partner support, academic funding, public work, community building, etc.