Filecoin is overhauling its block reward mechanism with FIP-0118, nicknamed Solstice, which splits each block reward into three streams: a consensus share that steps down from 95% toward a 50% floor over roughly 2.25 years, a service share starting at 5% that can increase based on Filecoin Pay payment volume in US dollars, and a burn mechanism that permanently destroys any unearned service portion. The nv29 mainnet upgrade is scheduled for October 19, 2026 at epoch 6470279, just days after the end of genesis vesting for Protocol Labs and Filecoin Foundation allocations, which removes approximately 66.7 million FIL per year from the supply schedule and is expected to cut daily new FIL issuance by around 75%. The proposal replaces the Filecoin Plus system, which relied on human-administered verification and was prone to governance problems, with on-chain USD-denominated payment volume as the new signal for legitimate storage demand.
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