Adjustment on the Interest of HyperPay Filecoin Cloud Mining
13 Apr 2021
When the HyperPay Filecoin Cloud Mining was launched, there was no clear rules, but only the initial pricing for the hardware cost of the mining machine. After the birth of Filecoin mining rules, its real mining cost is divided into three parts (mining machine hardware + pledge coin + packaging Gas fee, the former accounted for about 40%, the latter two accounted for 60%) .
 
After the Filecoin mainnet went live, the market was extremely lack of FIL tokens necessary to fill hash rate. In order to ensure the interests of users, HyperPay adopted the scheme as most mining machine manufacturers to advance the cost of pledge coins and package gas fees, continue to packaging linearly for users, and distribute all mining revenues to users. However, with the rapid increase in the price of FIL, and the gradual increase in the hash rate of filling, the cost of mining has changed dramatically, the proportion of hardware costs of mining machines decreasing to 10%, and the operating pressure of HyperPay to advance pledge coins and gas fees has surged, bearing interest of 72% of the annualized interest rate on the market. Therefore, the current best strategy is to package the effective hash rate as soon as possible to increase the mining revenue.
 
HyperPay Filecoin Cloud Mining has decided to adopt a general market solution. The user's mining income will be repaid for the advance payment by the platform, and the platform continue to pre-pledge it to increase the speed of hash rate. In this case, the amount of repayment will grow faster, but users can avoid FIL interest expenses by repaying in advance actively. At the same time, in order to relieve users’ pressure on borrowing coins, HyperPay has decided to subsidize all Filecoin Cloud Mining users by 50% of the market borrowing interest. After the subsidy, the daily interest rate for users’ borrowing is only 0.09863%, which is significantly lower than the market FIL. Please be informed of above informed.

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