TL;DR
- GLIF has launched its native token, GLF, distributing 94 million tokens in an airdrop to active users, which represents 9.4% of the total supply.
- Although GLF is currently a governance token, the protocol is working to expand its utility, including a loyalty program inspired by airline miles.
- GLIF plans to expand its model to other DePIN networks beyond Filecoin and is exploring applications in areas such as energy.
GLIF, the leading DeFi protocol on Filecoin, has launched its native token, GLF, and is distributing 94 million of these tokens to users through an airdrop.
This amount corresponds to 9.4% of the total GLF supply. Users who actively participated in the protocol by accumulating GLIF points will be the beneficiaries of this distribution. Initially, 100 million tokens had been planned for the airdrop, but the figure was adjusted based on participation. The undisbursed tokens will be returned to the community rewards pool for later distribution.
GLIF Expands the Functions of Its GLF Token
Although GLF is primarily a governance token at this stage, GLIF is working to expand its utility. According to Jonathan Schwartz, the protocol’s founder and CEO, the entity is developing a loyalty program inspired by airline miles programs, which could offer additional benefits to users. Schwartz also mentioned that they are working on an innovative mechanism for the DeFi world that will be revealed later.
GLIF plans to expand its reach beyond Filecoin and support other decentralized physical infrastructure networks (DePINs). In its current model, it allows FIL holders to participate in a liquid leasing mechanism, lending FIL tokens to Filecoin storage providers who use them as collateral. Lenders receive rewards in return. Depositors receive iFIL, a token that can be traded or used in DeFi protocols while still generating yields.
Heading Towards New Horizons
GLIF has become the dominant DeFi protocol on Filecoin with over $102 million in total value locked. Now, the company seeks to apply its model to other DePINs, although it has not yet revealed which networks will benefit first. Expansion will be based on user demand, technical feasibility, and the economic risks of integrating new networks.
Additionally, they are exploring DePIN networks outside the storage sector, such as those operating in the energy space. The company is interested in supporting networks that, although different from Filecoin, align with their model and expansion vision
