Hassan Maishera
On Tuesday, the Filecoin Foundation announced via X that the NV25 Teep Network Upgrade is here. The Network version 25 "Teep" upgrade introduces improvements that make Filecoin more efficient and adaptable, simplifying storage provider economics and enhancing developer tooling.
Some of the improvements include a straightforward per-sector fee and the removal of the Batch Balancer and gas constraints (FIP-0100), transient storage via EIP-1153 in the FEVM (FIP-0097), a simplified fixed-percentage sector termination fee (FIP-0098), and preparation for F3 activation.
Support for EIP-1153 on the Filecoin Ethereum Virtual Machine (FEVM) enables compatibility with Ethereum standards, simplifying the process of porting contracts from Ethereum to Filecoin.
Meanwhile, FIP-0098 introduces a much simpler rule: the termination fee for a sector is now just a fixed percentage (8.5%) of its initial pledge, with a few bounded exceptions for very young sectors or unusual edge cases.
Filecoin is a decentralized storage network that serves as an incentivization layer on top of the InterPlanetary File System (IPFS). FIL is down 0.5% in the past 24 hours and is currently trading at $2.521.
