Glif has just announced the airdrop program of 100 million GLIF tokens, accounting for 10% of the total supply, for users holding GLIF Point.
The largest protocol on Filecoin, Glif confirms the airdrop of 100 million GLIF tokens
The largest DeFi protocol on Filecoin is Glif, which has just announced the GLIF token issuance plan and the airdrop of 10% of the total supply, equivalent to 100 million GLIF tokens, for users.
— GLIF (@glifio) October 29, 2024
To be eligible for the GLIF airdrop, users need to hold at least 1 GLIF Point. When the airdrop event takes place, users will be able to claim 25% of their token immediately at a 1:1 ratio, while the remaining 75% will be vested gradually over the next 180 days. If there are less than 100 million GLIF tokens airdropped, the remaining tokens will be sent to the community reward pool.
Glif founder Jonathan Schwartz said:
"The Glif platform has currently issued over 82 million GLIF Points and there will be one more distribution of Points before the TGE event, which is expected to take place at the end of 2024 or early 2025."
Tokenomics allocation details:
- Community (35%): Of which, 10% is for the airdrop, the remaining will be managed by the community through the voting process.
- Ecosystem Development (20%): Allocated for strategic partners building services for Glif, with 25% of the tokens unlocked initially and the remaining 75% vested over 3 years.
- Core Contributors (29.35%): Allocated for the development team, unlocked after 1 year and vested evenly over 36 months.
- Investors (15.65%): Vested evenly over 12 months after a 1-year cliff.
GLIF Tokenomics
The GLIF token will be used for users to participate in native staking to enhance the security of the protocol and provide additional benefits for LPs and SPs. Holders of iFIL and those who stake GLIF will receive rewards in both GLIF and FIL.
In addition, Glif has also established the GLIF Foundation, representing the GLIF DAO, to empower governance for GLIF holders. Through this, users can participate in decisions regarding asset allocation and the platform's development strategy. Jonathan Schwartz also emphasized that GLIF is not only the first governance token for a DeFi protocol but also plays an important role on Filecoin, similar to Lido on Ethereum or Jito on Solana.
As for Glif, the project is designed to support users in borrowing FIL tokens they hold on Filecoin to generate profits. Currently, Glif is the largest lending platform on Filecoin with over $127 million in TVL according to data from defillama.
Glif TVL statistics. Source: defillama (October 30, 2024)
In addition, Glif has also received investments from leading funds such as Multicoin Capital, Big Brain Holdings, and Protocol Labs, raising $4.5 million in a seed round earlier this year. Glif not only affirms itself as a leading DeFi protocol but also becomes a crucial pillar in the Filecoin ecosystem.
Compiled by Coin68
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