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Glif, the largest protocol and liquid credit platform in the Filecoin (FIL) ecosystem, announced that it has launched its points program before the token launch.
Filecoin storage providers (SPs) and liquidity providers (LPs), the two parties in the Glyph system, are eligible to earn points. Glif stated that points will be awarded to both past and future SPs and LPs.
As a liquid leasing protocol, Glif allows Filecoin (FIL) token holders to deposit FIL into a liquidity pool. In return, they receive iFIL, Glif's native liquid rental token. SPs rent the accumulated FIL and pay back the rental fees to the LPs and the protocol. After depositing FIL, LPs earn pro rata rental fees.
According to data from Filfox, Glif is currently the largest protocol in the Filecoin ecosystem, with a total locked value of over $372 million.
Glif's points schedule arrives just two days before the project's one-year anniversary. The protocol allocated 75 million points for past (50 million) and future (25 million) SPs and LPs, and each party will receive a 50% share of the total points.
The starting date for the distribution of past points was determined as March 30, 2023, the date when the protocol was launched. The starting date for future points will be March 28, will continue until September 26, and point distribution will be made every two weeks. Glif plans to convert its points into its upcoming native token at a 1:1 ratio.
*This is not investment advice.