- Glif’s decision to introduce its points program just ahead of its first anniversary and token launch showcases strategic timing.
- By aligning the launch with a milestone date and providing ample time for users to accrue points, Glif aims to generate excitement and engagement within its community, setting the stage for a successful token launch.
Glif, a leading liquid leasing platform within the Filecoin ecosystem, has initiated its points program in anticipation of its upcoming token launch. Designed as a precursor to decentralizing protocol decision-making, Glif’s points program aims to engage both Filecoin storage providers (SPs) and liquidity providers (LPs) in its ecosystem. Through this program, points will be awarded to both historical and future participants, including SPs and LPs.
As a liquid leasing protocol, Glif facilitates the exchange of Filecoin (FIL) tokens for iFIL, its native liquid leasing token. Users deposit FIL into a liquidity pool and receive iFIL in return, enabling SPs to rent FIL for storage purposes while LPs earn rental fees from the deposited FIL. Currently boasting over $372 million in total value locked, Glif stands as the largest protocol within the Filecoin ecosystem, according to Filfox data.
The points program, launched just ahead of Glif’s first anniversary, allocates a total of 75 million points, divided equally between historical and future SPs and LPs. Historical points, amounting to 50 million, will be distributed based on the protocol’s launch date on Mar. 30, 2023. Future points, totaling 25 million, will be distributed from Mar. 28 to Sept. 26, with distributions occurring biweekly.
In preparation for its token launch, Glif plans to convert points to its native token at a 1:1 ratio. According to a source familiar with the matter, the token launch is slated for the summer, aligning with Glif’s vision to introduce a governance token akin to existing “vote escrowed” governance token models like veCRV. Additionally, Glif intends to introduce a quest program, offering users a gamified experience to earn more points.
The utilization of points as rewards has become increasingly prevalent among crypto projects as a means of incentivizing user engagement and loyalty. Recent reports indicate that over 40 billion reward points have been distributed by crypto projects, highlighting the growing trend of incorporating such reward systems into decentralized ecosystems.
Glif’s Strategic Points Program Paves the Way for Token Launch
Glif’s introduction of a comprehensive points program marks a significant step towards its impending token launch and the decentralization of protocol decision-making. By engaging both historical and future participants in its ecosystem, Glif aims to foster community involvement and reward user loyalty. With preparations underway for the conversion of points to its native token, Glif is poised to further enhance its governance structure and strengthen its position as a leading platform within the Filecoin ecosystem.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
