Introduction

Optic Capital has chosen to invest in FilSwan due to its strong position in the growing Web3 infrastructure market, its comprehensive product suite, and the recent launch of the Filecoin Virtual Machine (FVM) on the mainnet. This investment thesis will first provide an overview of Filecoin, explaining why Optic believes in its potential, and then delve into the current challenges surrounding Filecoin that FilSwan can address. Lastly, it will explore the implications of the vast amount of data on the internet and why smart contracts on Filecoin, facilitated by FilSwan, offer a viable alternative to Ethereum-based solutions.

Filecoin: A Promising Decentralised Storage Solution

Filecoin is a system designed to be a blockchain-based cooperative digital storage and data retrieval method. It is a powerful and dynamic distributed cloud storage network that has been adopted by multiple blockchain projects like Near and Polygon. As a decentralised data storage solution, Filecoin ensures data security, reliability, and faster access for global users. The network’s decentralised nature allows for reduced dependence on centralised storage providers, which often have a single point of failure and can be subject to censorship or data breaches.

Optic Capital’s Belief in Filecoin

Optic Capital believes in Filecoin’s potential to revolutionise the way data is stored and accessed in the era of Web3. Filecoin’s decentralised storage solution addresses many of the shortcomings of traditional, centralised storage systems. It promotes data security, reliability, and accessibility while offering cost-effective storage solutions. With the rapid growth of data on the internet, the need for secure, reliable, and decentralised storage solutions has never been greater. Optic Capital sees Filecoin as a vital component of the Web3 infrastructure, poised to play a significant role in the decentralised internet’s future.

Current Challenges Surrounding Filecoin

Despite Filecoin’s potential, several challenges exist that need to be addressed to fully realise its potential in the Web3 ecosystem:

Limited information on storage providers: Users often lack sufficient information on the quality of service offered by storage providers, making it difficult to make informed decisions.

Inadequate matching functionality: The lack of a comprehensive matching system that caters to diverse data storage needs makes it challenging for users to find suitable storage providers.

High barriers to entry for beginners: With numerous storage providers to choose from and varying pricing structures, it can be time-consuming and costly for newcomers to find the best fit for their storage needs.

FilSwan: Addressing Filecoin’s Challenges

FilSwan is a multi-chain Web3 infrastructure provider offering products and services that enable developers to easily integrate decentralised storage, computing, and network core capabilities. It aims to address the challenges surrounding Filecoin by providing tools and solutions for large-scale dataset storage, facilitating the migration of datasets to the Filecoin network, and simplifying the data storage process.

With more than 5 million terabytes of data on the internet and Ethereum full nodes reaching sizes of up to 1 terabyte, it is becoming increasingly clear that relying solely on Ethereum for a decentralised internet may not be sustainable. Decentralisation could be threatened, and issues with network bloat could arise, potentially hindering the progress of Web3. In the long run, smart contracts on Filecoin could emerge as a strong viable alternative, and FilSwan is well-positioned to be a key player in facilitating this transition and realising the true vision of open, trustless, decentralised economies in Web3.

The recent launch of the Filecoin Virtual Machine (FVM) on the mainnet has opened up new possibilities for developers to create smart contracts and applications that can leverage the storage capacity and capabilities of the Filecoin network. Examples of potential applications include decentralised computation, crowd-funded dataset preservation, smarter storage markets, multi-generational storage, data DAOs, tokenized datasets, locally-stored NFTs, time-locked retrieval, and collateral loans. These developments will enable better cross-chain interoperability and integration with apps deployed on other chains like Ethereum, NEAR, Polygon, Solana, and Flow.

Partnerships

FilSwan has established significant partnerships including that of Binance Greenfield (which is the third blockchain in the BNB ecosystem tailored to providing decentralised storage infrastructure) further strengthening its position in the Web3 ecosystem. Binance Labs, the venture arm of the world’s largest cryptocurrency exchange, Binance, has incubated FilSwan, providing the project with valuable resources, industry connections, and strategic guidance. This incubation demonstrates Binance’s belief in FilSwan’s potential and its commitment to supporting innovative blockchain projects. Additionally, FilSwan has received grants from both Chainlink and Filecoin, two prominent players in the blockchain space. These grants not only provide financial support but also signify the recognition of FilSwan’s value and potential by industry leaders. Such partnerships and support contribute to the credibility of FilSwan and Optic Capital’s confidence in its ability to address the challenges of decentralised data storage and facilitate the widespread adoption of Filecoin and Web3 technologies.

Conclusion

Optic Capital’s investment in FilSwan is grounded in its belief in Filecoin’s potential as a decentralised storage solution and the crucial role FilSwan will play in addressing Filecoin’s challenges. As the internet continues to grow exponentially, Ethereum’s limitations may become more apparent, and smart contracts on Filecoin could emerge as a viable alternative. FilSwan’s strategic partnerships, which include being incubated by Binance Labs and receiving grants from Chainlink and Filecoin, further bolster its position in the Web3 ecosystem. These partnerships not only provide resources and financial support but also signify the recognition of FilSwan’s value and potential by industry leaders. FilSwan is well-positioned to facilitate this transition, capitalising on the opportunities presented by the launch of the Filecoin Virtual Machine and leveraging the support from its influential partners.