Dear community users,
HBTC will launch the exclusive Filecoin Cloud Mining product to benefit community users, users can mine the Filecoin with low cost as 88USDT /TB. Filecoin Cloud Mining product will be online at 20:00（UTC+8）on July 6th, 2020 with 2 stages.
I Product Overview
- What is FilecoinCloud Mining?
Filecoin Cloud Mining product is to divide the mining capabilities stored in the mining machines into several parts by the tokenization of the mining machines, so users can participate in with a low threshold. Filecoin Cloud Mining product defines each mining unit as a mining token: FILM (Filecoin Mining), the specific proportion is 1TB storage space = 1FILM. Users can enjoy high-quality professional services at the lowest cost through cloud mining products while no need to buy the entire mining machine for professional maintenance. Therefore, Filecoin mining rewards are provided for holding the HBTC Filecoin cloud mining token- FILM.
- About HBTC FilecoinCloud Mining Product
“Cloud Mining Token Name”: FILM (Filecoin Mining)
“Token value”: 1 FILM= One-year storage equity for 1 TB mining power
“Product price”: 1 T(FILM) = 120 USDT (the preferential policies can be refer to “II: Subscription Method”
“Total subscription quota”: 3,000 T (FILM)
“Quota”: 1-10T (FILM)/ per user/per stage
“Product duration”: 365 days (calculated from the mining date of FILM official launching on Filecoin main net, FILM cloud mining rewarding will be automatically stopped after expiration)
“Technical service fee”: 15% (maintenance costs of miners and mining factory, which will be deducted from the daily output in Filecoin)
“Rewards allocation”: Filecoin rewards generated by the FILM cloud mining will be distributed based on users’ FILM holding amount, which is only valid in HBTC account(This product will be introduced into mining as soon as the Filecoin main network was launched)
“Mining rewards”: shall reach the average level of the industry
II Subscription Method
Subscription Stage 1: Exclusive Subscription offers for HBTC Captains &HBTC old users
1.Participant token: USDT
2.Eligibility: Qualified by meeting one the of requirements
1) Qualified by holding at least 100HBC before July 6th for KYC Level 2 users (subject to the asset snapshot at 8:00 on July 6th Singapore time)
2) HBTC Captains
1) Subscription Time: 20:00 July 6, 2020 -- 12:00 July 9, 2020 (UTC+8)
2) Total subscription quota for stage one: 1,000 T(FILM)
3) Quota: 1T-10T(FILM)/ per user
4) Subscription price: 88USDT/FILM (Exclusive Lowest Price for HBTC users, first come, first served)
4.Subscription Link: https://www.hbtc.com/xo/item/FILM-USDT-6002-20200706121137
Stage 2: 10% Extra Filecoin Mining Rewards to be Given for Subscriptions
1.Participant token: USDT
2.Eligibility: HTBC users
1) Subscription Time: 20:00 July 10, 2020 -- 20:00 July 13, 2020 (UTC+8)
2) Total subscription quota for stage two: 2,000 T(FILM)
3) Quota: 1T-10T(FILM)/ per user
4) Subscription price: 120USDT/FILM (10% Extra Filecoin Mining Rewards to be Given for Subscriptions)
Note: the extra rewards will be distributed to users’ account within 3 days after the end of the subscription.
1) FILM is the mining rewards while no FILM trading pair will be listed. The deposit and withdrawal of FILM are supported (after the subscription is completed).
2) As hardware needed by this product, the USDT subscription cost will not be returned once the hardware is purchased. However, a 24-hour cooling-off period is provided by the platform, which means, users can apply for the refund by HBTC official customer service within 24 hours after the end of the subscription.
III More Information
1.About the technical service fee
Filecoin Cloud Mining Service will take out 15% of FIL output as the technical service fee, which includes: maintenance costs of the miners and the mining factories, miner deployment, technical services, human resource costs.etc.)
2.About the product cycles
1). The product shall be valid for 365 days (calculated from the Filecoin output generating date after the main network is launched);
2). the Filecoin cloud mining service shall automatically terminate and become invalid upon expiration. The platform will no longer undertake relevant support services, and the Filecoin proof held by the user will also be delisted and become invalid;
3). If the mine cannot continue its operation due to force majeure such as law, policy, war, earthquake, fire or power failure, the Cloud Mining products will be terminated in advance and HBTC shall not assume compensation liability.
3.Filecoin Cloud Mining Token—FILM
1). The Filecoin Cloud Mining Token—FILM only represents the 365-day cloud mining products, which will be delisted and destroyed by HBTC after the service expires;
2). Users who hold FILM in their HBTC accounts enjoy this service. Daily FIL will be distributed according to the FILM held in their accounts after the Filecoin main network is launched in the future;
3). The users shall bear the relevant responsibilities and consequences for the output losses in their HBTC account caused by their deposits & withdrawals of Filecoin proof.
4.Mining output and allocation
1). The platform will allocate the actual mining output from Filecoin cloud mining product;
2). The mining output generated by Filecoin cloud mining product will be distributed in the form of FIL Tokens;
3). The mined FIL of the previous day will be distributed before 24:00 Beijing time on the next day, which subjects to the pool's settlement time;
4). Distribution formula: users' daily FIL rewards = TB quantity of the FILM held by the user × daily output /TB × (1-15% technical service fee).
5.How to distribute the FILoutput?
A: From the 8th day after the main network is launched, FIL output from Filecoin Cloud mining product will be calculated and allocated daily according to TB quantity of the Filecoin in your HBTC account. HBTC will distribute your FIL output of the previous day before 24:00 Beijing time on the next day. You can view the record on the "My Asset-Asset Record" page.
6.About the cancellation of subscription
The subscription cost will not be returned due to the special nature of this cloud mining product, the costs includes the preparation and construction work, such as mining machine purchasing, mining pool expansion, and testing, etc.. Please be cautious about the subscriptions. HBTC will also reserve the subscription cancellation right in this event due to the uncertainty of Filecoin' main network configuration and other risk factors.
7.HBTC Miner Rental (purchasing), custody service agreement
It is deemed that you have completely read and accepted this agreement “HBTC Miner Rental (purchasing), custody service agreement “(see Annex 1 below the annoucement) if you participate in the subscription.
IV Risk Tips
- The price of FIL will fluctuate and the mining difficulty will be adjusted from time to time. Both coin price fluctuation and mining difficulty adjustment can lead to the profit change of FilecoinCloud Mining. Therefore, there is no promise of breakeven or refund for the Filecoin Cloud Mining. Users shall carefully assess their own risk tolerance and invest in digital currency mining within their acceptable risk control scope. Filecoin reserves all the interpretation rights of this products and this agreement.
- Users understand and accept that if Filecoin mining is stopped or prohibited due to the changes of the objective circumstances including the formulation or modification of relevant national laws, regulations and regulatory documents, the contract will be terminated automatically and both parties shall not hold each other accountable. Besides, the resulting losses shall be borne by the users themselves and the fees already paid by the users shall not be returned.
- No digital trading will be involved in this product. Users shall bear the relevant responsibilities and risks for participating in the digital trading.
- The expected Filecoinmining rewards may be deviated from the actual rewards because of coin price fluctuation and mining difficulty. Therefore, there is no guaranteed profit of Filecoin
- The launch date of Filecoin's main network shall be subject to the Filecoin Official. The mining rewards shall be subject to the actual mining data calculated after Filecoin main network is launched.
- HBTC reserves all the interpretation rights of this event.
- What is IPFS
IPFS is short for InterPlanetary File System is a network transfer protocol based on content-addressable, versioning and peer-to-peer hypermedia distribution protocol. IPFS combines a P2P network, BitTorrent swarm,, Version Control Systems -Git, and SFS- aself-certifying namespace.it aims to benchmark the current http protocol and build a brand-new next -generation Network protocol.
2.What is Filecoin
Filecoin is the incentive of IPFS which uses the token incentive model of the blockchain to build a decentralized storage network. The symbol of the Filecoin token is FIL. Filecoin aims to build a storage system and retrieval market by Filecoin incentive model. By providing storage and retrieval services, miners can obtain the FIL tokens paid by users.
3.When will Filecoin mainnet be launched?
A: The main net is estimated to be launched at the end of August 2020 according to the announcement on their official website. Please refer to the official announcement for details. Filecoin website: https://Filecoin.io/
- How doesFilecoincalculate and allocate Filecoin output?
A: The Filecoin output will be allocated according to the proportion of Filecoin cloud mining products purchased by the user to the total quantity in the mining pool. The user’s actual obtained Filecoins have already deducted the management fee. (Please note: Dynamic changes, for reference only)
Annex 1 HBTC Mining Machine Rental, Hosted Management Service Agreement
HBTC platform (hereinafter referred to as us) is committed to cloud mining as a service, using the latest technology to provide multi-algorithm, multi-currency cloud mining services. By leasing our mining machines to our customers, and simultaneously providing mining machine hosted management and mining maintenance business, we provide our customers with a one-stop solution for mining capabilities of different sizes of cryptocurrency.
The following terms are our terms of service (hereinafter referred to as “this agreement”), we will be jointly bound by the terms of service, through the terms of service to establish legal rights and obligations by your operation on our website platform. Please read the terms of Service carefully and fully understand the agreement and the terms, and strictly abide by it.
By using the Platform services, confirming through the web pages or otherwise accepting this Agreement, you shall be deemed to have fully understood all the terms of this Agreement and agree to enter into this Agreement with us.
If you have any doubts or objections about the contents of this Agreement before agreeing to enter into this Agreement, please contact us so that we can explain and explain to you so that you can fully understand and help you decide whether to accept this Agreement and whether to use our services.
In accordance with the relevant laws and regulations of the country where the parties are located and through equal and voluntary negotiation, the parties hereby agree as follows on matters concerning the leasing of mining machines from the HBTC platform and entrusting the platform to provide hosted services.
Ⅰ. Leasing of Mining Machinery
Leasing mining machines: The Platform provides users with mining machines, which users shall have the right to use the mining machines during the term hereof. The user shall entrust the HBTC Platform to manage the mining machine at the meanwhile, so as to maximize the user's computing power and protect the user's rights and interests to the maximum extent.
Ⅱ. Contents of hosted management services for mining machinery
2.1 Site supporting services: HBTC Platform provides host site, power supporting facilities and broadband for users who rent mining machines, Network support, security monitoring, hosted management and troubleshooting, and assist the manufacturer or the interested party in maintenance and other hosting services.
2.2 Daily monitoring services: HBTC platform shall carry out daily monitoring to ensure the smooth operation of the mining machines that users rent, and management entrusted.
2.3 Network and information security: HBTC Platform keep platform shall cooperate with relevant national departments to handle Internet and information security as required
2.4Maximum computing power guarantee: HBTC Platform shall try its best to ensure the monthly mining hours of the leased mining machine, so as to ensure that the users can achieve maximum computing power income within the lease term; HBTC Platform will guarantee that the customer will make up for the loss of mining machine downtime time caused by power failure in a one-to-one manner. In other words, for every hour of power failure, the platform will compensate the customer for an extra hour of mining machine rental time.
III. Term of lease and hosted management
The operation period of the mining machine rented and entrusted to the management by the user shall be :12 months (counting from the time when the user pays the lease fee, which is subject to the information on Leasing Page). The mining machine operation and maintenance costs (hereinafter refer as “operation and maintenance costs “) shall be borne by HBTC Platform, and the user shall not bear the operation and maintenance costs.
Ⅳ. Expense burden
The fees that users need to pay to the Platform include: annual mining machine lease fee, entrustment management fee and basic electricity fee, etc.
V. Rights and obligations of users and HBTC platform
5.1 Rights and obligations of users
5.1.1 Users shall be entitled to rent the mining machine, store and withdraw the accordingly digital assets on HBTC platform.
5.1.2 Users shall be entitled to check all accounts information under HBTC platform, use or operate the functions provided by HBTC;
5.1.3 HBTC commits to provide other services to our customers;
5.1.4 The User shall not maliciously register any account with the HBTC platform by any means, including but not limited to registering and controlling multiple accounts for the purpose of profiteering, speculative operations, illegal cash-ins, illicit awards, among others. Nor may the User use the account or any other user in the absence of proper authorization.
HBTC owns the right to take all necessary measures if a user violates the above provisions, the necessary measures including but not limited to: suspending or closing the account of user, cancelling all profits user has obtained from the violations, or even charging user for his/her legal liability through lawsuit and etc.
5.1.5The User is prohibited from using the HBTC as a venue, platform or medium to engage in any kind of illegal activities. Without due authorization or permission by the HBTC, the User may not use the name of this Website to engage in any business activity, nor may the User use the HBTC as a venue, platform or medium for business activities in any manner whatsoever.
5.2 Rights and obligations of HBTC
5.2.1 HBTC shall be entitled to charge the service fee according to the regulations when users use the mining machine leasing service HBTC provided. HBTC owns to regulate and modify the service fee unless otherwise stated or agreed, users agree HBTC deduct the above-mentioned service fee from the assets in users’ accounts.
5.2.2 Where by means of technical testing or manual sampling, among others, HBTC reasonably suspects that the information you provide is wrong, untrue, invalid or incomplete, HBTC shall have the right to notify you to correct or update the information or suspend or terminate its supply of the services to you.
5.2.3 HBTC shall have the right to correct any information displayed on HBTC Website when it uncovers any obvious error in such information.
5.2.4 HBTC reserves the right to modify, suspend, or terminate the Mining machine Leasing Services at any time, and HBTC will inform users by website announcement when using Service modification or suspension rights.
5.2.5 HBTC shall take necessary technical means and management measures to ensure the normal operation of the mining machines.
5.2.6 HBTC will secure the users’ asset and hosted management by strengthen technical investment and improving security protections, shall be obliged to inform users as early as possible when foreseeable security risks appear.
Ⅵ. Legal Statement on Maximization of user computing power
HBTC platform is committed to providing users with one-stop digital currency computing solutions. However, the revenue brought by digital currency computing power is affected by the corresponding digital currency market's final strength, mining and distribution scheme of digital currency in a certain period, corresponding currency fluctuation and other aspects, which are unpredictable. Each customer must make an independent judgment about the benefits of buying or leasing the mining machinery and should consider the risks and their own circumstances when choosing whether to buy or lease the mining machinery. HBTC Platform is not responsible for the mining income of customers.
VII. Modification, rescission, termination and assignment of rights and obligations
7.1 Modification of The Agreement
HBTC Platform reserves the right to modify the transaction method, custody duration and other contents of the agreement from time to time according to the needs of the market.
It shall be considered as reasonable or necessary under the principle of good faith.
7.2 Rescission and Termination of this Agreement
During your use of the Platform services, we may unilaterally terminate this Agreement if:
7.2.1 Your account is cancelled for any reason;
7.2.2 Using the platform service in the name of another person or using another person's account falsely;
7.2.3 Use the platform services for illegal purposes;
7.2.4 Engage in any behavior that may infringe upon the platform system and data;
7.2.5 Violate any laws and regulations or provisions of this Agreement;
7.2.6 The services provided by the platform are no longer in compliance with relevant regulatory provisions in the opinion of the regulatory authority;
7.2.7 In addition to the above reasons, we may terminate the provision of certain services to you according to the risks and the needs of our business operation. At that time, the company will notice or inform according to the situation. Since this is a normal business decision, you cannot make it. You understand that we are not liable for any restrictions on the use of the platform services.
7.3 Assignment of rights and obligations
We may change or add performance subjects based on the needs of the Platform services. If you continue to use the Platform services, it shall be deemed as you agree the performance subjects changed or added as the other party to your performance of this agreement.
VIII Dispute Resolution
The conclusion, validity, interpretation, performance and dispute settlement of this Agreement shall be governed by the laws of the country where the agreement is made. During the performance of this Agreement, all disputes and disputes arising out of or in connection with this Agreement shall be settled by the parties through negotiation. If no agreement can be reached through negotiation, the parties agree to submit the case to the court in the place where the defendant is located for settlement through litigation.
During the performance of this Agreement, the written notice we send to you includes the mailing of a paper notice, the platform announcement, E-mail, SMS and fax, etc.
10.1 The annexes hereto and the supplements, amendments or changes thereto shall form an integral part of this Agreement and shall be in accordance with this Agreement. The text of the discussion shall have the same legal effect.
10.2 Each party hereto shall bear its own taxes related to this Agreement in accordance with laws, regulations and relevant provisions.
10.3 Matters not covered herein shall be dealt with by the parties through negotiation or in accordance with relevant national laws and regulations.
Digital assets are innovative products with high volatility. We encourage our users to make a rational judgment on your investment and to invest carefully.
July 6, 2020