Dear Respected Hotbit Users，
Hotbit is scheduled to distribute the first round of incomes of MTFIL cloud computing products for all MTFIL holders on Hotbit at 08:00 AM, October 28th, 2020 (UTC). After that, Hotbit will distribute the incomes of MTFIL generated within the previous day for all relevant users at 08:00 AM everyday (UTC). The first round of incomes will include all incomes generated from 14:44, October 15th, 2020 (UTC) (the time of mainnet launch) until 16:00, October 27th, 2020 (UTC).
The source of MTFIL incomes and the regulations of income distribution are listed as below：
MTFIL incomes will include the following sources：
Total volume of StarPool rewards：130,000 FIL
By holding each MTFIL, the user will receive 0.46FIL as rewards.
Unlocking rules：Linearly released within 180 days, the rewards for each MTFIL on hold will be released according to the same proportion of this rule。
II、SR2 Track I：
Total value of StarPool rewards：500,000 FIL
By holding each MTFIL, the user will receive 1.20 FIL as rewards.
Unlocking rules：Among which 228,000 FIL are used for the purpose of staking purpose, with the life cycle of sector being 540 days. 272,000 FIL are known as the incomes of block generation, and will be released linearly within 180 days, the rewards for each MTFIL on hold will be released according to the same proportion of this rule.
SR2 Track II is mainly targeted at developers，which is currently still in progress，StarPool has also obtained a small amount of relevant rewards, the detailed value of this part of rewards will be published after SR2 Track II terminates, the rules of distribution of this part of rewards will be the same as SR2’s logic of calculation.。
III Mining Incomes（Unlock of block rewards）：
Since the implementation of proposal FIP-004 on October 23rd, 2020, the rule of the distribution of block rewards has been changed, according to the new rule, 25% of all block rewards will be distributed all at once, with the remaining 75% of block rewards to be released within 180 days linearly.
Considering the fact that Filecoin has just launched its mainnet, the economic model and relevant technology of Filecoin, including its staking mechanism, may be adjusted further. Hence, the contents of this announcement may be adjusted further according to the further adjustments of Filecoin team as well. Please do follow our latest announcements for any updates and adjustments.
If you have any problem, please send us a support ticket.