Layer 1s • June 26, 2020, 4:00AM EDT

CoinList to distribute Filecoin tokens after the network's mainnet launch in August

The Block

Token listing platform CoinList is set to distribute Filecoin (FIL) tokens after the network’s mainnet launch, which is expected in August.

FIL tokens will be distributed directly to investors’ CoinList wallets, according to a statement shared by CoinList with The Block on Friday.

Ian Darrow, head of operations at the Filecoin project, told The Block that investors would also be able to receive deposits directly to their Coinbase, Gemini or Anchorage accounts, or to self-custody with a Ledger hardware wallet.

Filecoin, a peer-to-peer decentralized storage network, is being developed by Protocol Labs. Once launched, the network would allow users to buy and sell unused storage on an open market.

Protocol Labs raised over $205 million via a SAFT (simple agreement for future tokens) sale in 2017. The SAFT sale, conducted via CoinList, allowed over 2,100 accredited investors from more than 50 countries to invest in Filecoin.

The Filecoin network has been under development since then and was originally scheduled to launch in March of this year. But it has faced several delays. The network is now anticipated to launch in mid to late August, per Friday’s statement.

After the mainnet launch, CoinList intends to also support Filecoin’s trading. "We're thrilled to continue CoinList's longstanding partnership with Filecoin — from their token sale in 2017, through now being the primary distribution channel for the tokens, through our intent to support Filecoin trading,” Andy Bromberg, co-founder and president at CoinList, told The Block.