Tiers and Limits
Your GLIF+ Tier is determined by the amount of $GLF you stake, which sets your cash back rewards and DTL limits—the higher your status, the bigger the benefits.
| Tier | Mint Cost ($GLF) | Stake Requirement ($GLF) | Cash Back Premium | DTL Limit (Leverage) |
|---|---|---|---|---|
| Bronze | 5000 | 50000 | 5% | 80% (5x) |
| Silver | 5000 | 250000 | 10% | 85.7% (7x) |
| Gold | 5000 | 750000 | 25% | 90% (10x) |
*DTL = debt-to-liquidation value. Higher DTL corresponds to higher effective leverage. Learn more about DTL here.
Card costs
There are 3 “Costs” associated with the GLIF+ Card:
- Mint cost - a one-time, non-refundable fee paid for creating a Card. It is not included in activation fees.
- Activation fee (staking requirement) - a $GLF Token lockup that is repaid to the Card owner after downgrading or deactivating the Card. The $GLF used to obtain membership is refundable and separate from the $GLF used for cash back redemption.
- Cash back program vault - a $GLF Token lockup that is repaid to the Card owner whenever the Card owner wants to remove $GLF Tokens from the cash back program. This can be withdrawn at anytime without penalty.
NOTE
$GLF used for interest cash back becomes non-refundable after a swap, and there is no minimum amount required to perform the swap.
Tier Management
Card holders can upgrade/downgrade their Cards according to the following policies:
Upgrades
A Card holder can upgrade their Card to a higher tier for free at anytime, by providing the higher tier's $GLF Token lockup requirement. Any Card must be activated before it can be upgraded.
Downgrades
A Card holder can downgrade their Card to a lower tier, according to the following policies:
- If the Card was last activated / upgraded / downgraded longer than 3 months ago:
- The Card can be downgraded for free. All $GLF Tokens staked to the Card for activation will be transferred back to the Card owner
- If the Card was last activated / upgraded / downgraded less than 3 months ago:
- The Card can be downgraded with an 8.5% penalty on the staked $GLF Tokens for the Card activation. The Card holder will receive 91.5% of the staked $GLF Token amount
WARNING
$GLF Tokens that are locked for Card activations are locked for 3 months by default.
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