Glif, a Filecoin liquid rental protocol, launched its points program ahead of the token launch. Within the scope of this program, Glif will distribute 75 million points. According to sources, Glif plans to convert points into its native token at a 1:1 ratio.
Filecoin project Glif has launched its pre-airdrop reward program!
Glif is a Filecoin (FIL) liquid rental platform. Additionally, it is the largest protocol in the Filecoin ecosystem. Glif launched its points program ahead of the token launch. The protocol said in a statement that the scores are the first step towards decentralizing the protocol decision-making process. The protocol stated that two parties in its system were eligible to earn points. These parties are Filecoin storage providers (SPs) and liquidity providers (LPs). Glif added that points are awarded to both past and future SPs and LPs.
As a liquid lease protocol, Glif allows Filecoin (FIL) token holders to deposit FIL into a liquidity pool and receive iFIL, Glif’s native liquid lease token, in return. SPs rent the deposited FIL and pay back the rental fees to the LPs and the protocol. LPs earn pro rata rental fees after depositing FIL. According to Filfox data, Glif’s total value is currently over $372 million. Glyph is currently the largest protocol in the Filecoin ecosystem.
The project will distribute 75 million Glyph points in the program!
Glif’s points program arrives two days before its first anniversary. The protocol allocated 75 million points for past (50 million) and future (25 million) SPs and LPs. Each side will receive 50% of the total points. The start date for the distribution of past points is March 30, 2023, when the protocol was launched. The start date for future points is March 28. Additionally, the program will continue until September 26. During this process, the frequency of point distribution will be every two weeks.
Next step: Glyph token
According to sources, Glif plans to convert its points into its upcoming native token at a 1:1 ratio. Sources expect the token launch to happen this summer. ‘cryptokoin.com’As you may have seen from, Glif recently announced that it plans to launch a “governance token” that will work similarly to other “voting custodial” governance token models such as veCRV.
According to sources, Glif will also provide users with new ways to earn more points. For this, Glif plans to launch a quest program that is a gamified experience. Points are becoming increasingly popular among crypto projects to reward loyal users.
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