Pricing of units of storage

Hello,
I have a question regarding how the units of storage will be priced in Filecoin.
For example, if I want to store 1TB of data, the cost will be a specif amount of dollars, and then the correspondind amount of Filecoin will vary according to the price of Filecoin at each moment?
Or the price will be a specific amount of Filecoin? (in this case the amount of dollars will keep changing in relation to the price of Filecoin in each day).
Thanks!!

From the perspective of the filecoin node the cost will be in FIL, not USD. As you point out the amount of dollars will fluctuate in relation to the price.

You can imagine a host of smart contracts or business solutions on top of the filecoin network that could get the community towards filestorage in USD (i.e. some smart contract that pays out the difference in a stable coin with access to a FIL - USD exchange rate oracle). In all the solutions I can think of some party would need to take on risk to smooth out the volatility.

I am not aware of any plans for the PL filecoin team to build or run this ourselves for mainnet (though feel free to correct me @pooja).

Welcome @eduardo13542! It’s a good question! Storage is priced in FIL, and locked in at that price for the duration of the storage deal. Because the exchange rate between FIL/USD could be different day to day, on some days, this will be a good thing for storage clients (if the value of FIL decreases, you’ll be paying less in dollars) and on some days, it will be “worse” for storage clients (if the value of FIL increases). Impossible to predict how this volatility will unfold, though.

We’re aware of this behavior, but as @zenground0 mentioned, we’re not planning on building any second-layer protocols to address it right now. Some solutions we may recommend are for storage clients to make shorter storage deals and keep re-upping the contract as one way to protect against volatility in FIL price. We may build something in future protocol upgrades or encourage community members to do so!

Also: If you or anyone reading this have solution ideas, would love to hear them! :slight_smile: