Glif Rolls Out GLIF Tokenomics, Allocating 10% Of Total Token Supply For Airdrop
In Brief
Glif introduced GLIF tokenomics, allocating 100 million tokens to reward existing members and promote the growth of the GLIF community.
Liquid leasing protocol for Filecoin, Glif, has announced the details of its GLIF Token, which serves as a governance token providing additional benefits for both Liquidity and Storage Providers within the GLIF ecosystem.
The token empowers its holders to participate in decision-making regarding the GLIF Protocol through a decentralized autonomous organization (DAO). Over time, the DAO and the governance features of the token are expected to evolve as the community builds trust in the security, efficiency, and overall structure of the governance process.
The total supply of the GLIF Token will be 1 billion, with allocations as follows: 35% designated for the community, 29.35% for core contributors, 20% for ecosystem development, 15.65% for investors, and 10% for airdrops.
The community allocation is intended to reward current members and promote the growth of the GLIF community. Of this allocation, the first 10%, or 100 million tokens, is set aside for the GLIF airdrop. The remaining 250 million tokens will be used for other community growth initiatives, which will be determined through voting by token holders.
During the airdrop, tokens will be distributed to GLIF Points holders on a one-to-one basis, with a minimum of 1 point required for eligibility. If fewer than 100 million tokens are needed to satisfy all eligible GLIF Points holders, any remaining tokens will be returned to the community rewards allocation.
Upon the airdrop, 25% of the total proceeds will be immediately available to eligible claimants, while the remaining 75% will vest linearly over 180 days. Airdrop recipients will be able to verify their eligibility on the project’s website.
Meanwhile, at the Token Generation Event (TGE), approximately 7.85% of the total GLIF token supply will be in circulation.
What Is Glif?
GLIF serves as the foundational decentralized finance (DeFi) protocol for Filecoin, enabling FIL token holders to earn rewards by lending their tokens to Filecoin Storage Providers for storage mining on Filecoin. Since its launch 18 months ago, GLIF has facilitated over 140 million FIL in transaction volume and currently manages 19 million FIL in liquidity pool (LP) deposits, with more than 13 million FIL loaned out to Storage Providers.
Prior to establishing Filecoin’s DeFi capabilities, the GLIF team developed the first Filecoin wallet and multisignature solution, along with the public infrastructure for Filecoin node hosting. This infrastructure supports decentralized application (dApp) developers on the network.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
