Amidst ongoing conversations about protocol buybacks good vs evil, and "what rights do token holders have", this launch is extremely timely. We're presenting a brand new model to think about tokenomics around protocols with strong PMF, inspired by existing, proven methods.
Drawing from airline miles and credit card point systems, GLIF+ is a loyalty program that directly rewards holders who are also active users of the core protocol. Protocols spending fees to buy tokens on secondary markets is a capital-inefficient way to reward holders. GLIF+ offers a different approach.
We launched the borrower side of the program in October, and it's already accounted for ~2M GLF tokens in buybacks (directly from active users) and has locked up ~18M GLF in stakes to activate higher loyalty tiers and to participate in benefits.
Today, we're stoked to finally launch the full program, first for our @filecoin users. We'll be sharing a lot more info about how it works, but as always, we'd love your feedback.
Our hope is that other teams in DeFi can try experimenting with similar models! Would appreciate any help sharing our announcement 🙏
