GLIF protocol airdrop 94 million GLF tokens when expanding beyond Filecoin

GLIF, the largest DeFi protocol in the Filecoin ecosystem, has officially launched the native token GLF and implemented an airdrop program with 94 million tokens distributed to users. This amount accounts for 9.4% of the total supply of GLF, to show gratitude to users who have accumulated GLIF points through activities on the protocol.

Initially, GLIF was expected to distribute 100 million tokens in the airdrop, however this number has been adjusted based on actual participation levels. The remaining tokens will be returned to the community reward pool and will be distributed in subsequent stages.

Currently, GLF primarily serves as a governance token, but the GLIF team is working on expanding additional features. "We are building a customer loyalty program, inspired by familiar models like airline miles (points you accumulate when spending with a specific airline or their partners)," Jonathan Schwartz, founder and CEO of GLIF, shared.

He also revealed that GLIF is developing at least one "completely new mechanism" to bring unique values to the cryptocurrency and DeFi community, although the details have not yet been disclosed.

GLIF extends beyond Filecoin

The GLF token launch event marks a turning point for GLIF as it expands its operations beyond the Filecoin ecosystem, targeting other decentralized physical infrastructure networks (DePINs). GLIF allows FIL holders to earn rewards through liquid leasing - a mechanism for lending FIL tokens to Filecoin storage providers. These providers use FIL as collateral to provide storage services, and lenders will receive corresponding rewards.

Depositors into GLIF receive iFIL - a token representing the liquid leasing position. iFIL can be traded or used in DeFi protocols while still generating yield. This model has helped GLIF become the largest DeFi protocol in the Filecoin ecosystem with a total locked value (TVL) surpassing 102 million USD. Currently, the GLIF team is planning to apply a similar mechanism to other DePINs.

Although the specific networks to be integrated first have not been disclosed, Schwartz said, "We are in discussions with development funds of various protocols and different networks." GLIF's expansion decision is based on three main factors: current user demand, technical feasibility, and economic risk level.

Schwartz also noted that many Filecoin storage providers are also the largest miners in other DePIN networks. This trend reflects hardware optimization to simultaneously provide storage, computing, and resources for multiple blockchains – a method known as “double mining” or “triple mining.”

By integrating with the networks that these miners have supported, GLIF expects to expand rapidly. However, Schwartz declined to disclose specific networks under consideration.

In addition to storage, GLIF is also considering expanding into DePIN networks in the energy sector. "We are particularly interested in supporting some networks with completely different structures from Filecoin. Even if that means we have to adjust our current model or deploy new protocols to adapt," Schwartz shared.

Disclaimer: This article is for informational purposes only, not investment advice. Investors should thoroughly research before making a decision. We are not responsible for your investment decisions

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