GLIF, the leading DeFi protocol on Filecoin, has launched its native token, GLF

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.

TL;DR: GLIF, the leading DeFi protocol on Filecoin, has launched its native token, GLF, and is airdropping 94 million tokens to users who actively participated in the protocol by accumulating GLIF points. This allocation, which equals 9.4% of the total GLF supply, follows the initial announcement of a 100 million token airdrop. However, the final distribution is smaller due to lower than anticipated participation in the GLIF ecosystem. The undisbursed tokens will be returned to the community rewards pool for later distribution.

While GLF is currently used primarily for governance, GLIF is introducing new features to expand its functionality. The protocol is developing a loyalty program, similar to airline miles programs, to provide additional benefits to users who actively engage with the GLIF ecosystem. Moreover, they are working on a unique mechanism, which will be revealed later, to introduce a novel concept to the DeFi world.

GLIF's mission is to support the future of decentralized physical infrastructure networks (DePINs). In its current model on Filecoin, GLIF enables FIL holders to participate in a liquid leasing mechanism, where they can lend FIL tokens to storage providers who use them as collateral. Lenders receive rewards for their contributions, while depositors receive iFIL, a token that can be traded or used in DeFi protocols while still generating yields.

With over $102 million in TVL, GLIF has become the dominant DeFi protocol on Filecoin. Now, the company aims to expand its protocol to support other DePINs, integrating the first network by early 2024. The choice of the first network will be based on user demand, technical feasibility, and the economic risks of integrating new networks.

Furthermore, GLIF is open to exploring DePIN networks outside the storage sector, such as those operating in the energy space. They are interested in supporting networks that, although different from Filecoin, align with their model and expansion vision. This initiative underscores GLIF's commitment to fostering a broader and more inclusive DeFi ecosystem.