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The decentralized storage project developed by Mysten Labs officially launched its mainnet on March 27, drawing significant attention in the storage sector. In just three weeks, it raised $140 million, with a valuation soaring to $2 billion. Leading the investment was Standard Crypto, followed by major institutions like a16z, Electric Capital, and Franklin Templeton. The impressive lineup of investors itself indicates strong market confidence in this direction.
Regarding token distribution, 60% of the total supply of 5 billion tokens is allocated to the community—this proportion is quite sincere. Of this, 43% is reserved for community reserves, 10% for airdrops to users, 30% to core developers, 7% to investors, and 10% to incentivize storage participants. This design is clear: the main goal is to give the largest share of the pie to ecosystem participants.
On the technical front, the most notable innovation is cost reduction. The project adopts the RedStuff error correction code scheme, storing data sharded across multiple nodes with a replication factor of only 45—compared to traditional decentralized storage solutions that require a 25x replication factor. This results in even lower costs, reducing expenses by 80-100 times. Although this figure may seem counterintuitive, the key lies in the optimization of the technical solution, directly addressing the long-standing pain point of high costs in decentralized storage.
The ecosystem is also progressing, with projects like Chainbase and Humanity Protocol already integrated, indicating that application deployment post-mainnet launch is accelerating. For those interested in the Web3 infrastructure sector, this is indeed an exciting development.
a16z has also come in, which definitely indicates there’s something there. But the biggest risk with this kind of project is no one using the mainnet after launch; how much real traffic the airdrop can generate is really up to fate.
60% to the community sounds very sincere, but how many actually receive the airdrop…
Being too cheap might actually be a bad thing. Even when Filecoin was so popular, it never attempted centralized cloud storage. Can this really work?
Forget it, just jump in when the mainnet launches. After all, it’s just a small amount of airdrop money—make some profit and then run.
The main thing is that big institutions like a16z are optimistic, so following along to get some of the benefits is never a bad idea.
Finally, there’s some movement in the storage sector. The cost issue of decentralized storage really needs to be solved.
Wait, how is this 80-100x reduction calculated? The numbers seem too crazy…
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An 80-100x cost reduction sounds a bit exaggerated; it depends on how it performs in the actual follow-up.
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a16z has also come in; this time it might really be that different storage project.
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Airdrop 10% to users; I’m familiar with this routine haha.
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The RedStuff plan sounds mysterious, but if it can truly solve the old problem of expensive decentralized storage, then it’s definitely worth paying attention to.
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A $2 billion valuation in three weeks, the fundraising speed is quite fast.
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Chainbase has integrated, so the ecosystem is showing some activity, but we still need to see the real performance after the mainnet launch.
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A replication factor of only 45 times is actually cheaper? Can’t do the math, but as long as it works well, that’s fine.
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Infrastructure always attracts so much funding; can this time be successful?
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The investors are luxurious, but decentralized storage has many pitfalls. Good posture doesn’t mean it can survive.
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Wait, the replication factor is 45 times the cost but actually lower? I need to review this logic again.
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a16z and Franklin both co-invested, indicating it's definitely worth paying attention to.
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The main thing is that it can solve expensive problems, which is the breakthrough point.
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Chainbase has already integrated, it looks like someone is really using it.
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Raised 140 million in three weeks, this fundraising speed is outrageous.
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Cost reduction of 80-100 times? That number is a bit exaggerated, we need to see how it performs in practice.
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Community reserves are 43%, airdrops 10%, this allocation definitely seems to be aiming for ecosystem development.
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The storage track is heating up again; how many projects died in the last round?
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I haven't heard of the RedStuff plan, has anyone used it?
Giving 60% to the community, I respect that, unlike some projects that are stingy and tight
80-100 times cost reduction? How did they come up with this number...
The mainnet has just launched, and the application ecosystem still depends on what comes next, don’t get too excited
Does a16z’s co-investment mean stability? I think I’ll wait and see
Cost innovation is real, but decentralized storage has been done before
A 10% token airdrop, aiming to grab some airdrop benefits? I can do that
Copy factor, feels like just another marketing gimmick
They’re hyping the title like it’s another "Filecoin" story
Chainbase integration sounds good, but someone has to actually use it