Borrow and Withdraw FIL

What can I do with GLIF as a Storage Provider?

GLIF enables Storage Providers (SPs) to borrow FIL from a large group of Liquidity Providers (LPs), without giving away any private keys or needing to go through a manual diligence process.

Borrowed funds can be used for sealing, or for withdrawing out of the system entirely. In order to become eligible for borrowing, SPs must add collateral to GLIF. You can read more about the rules here.

How does borrowing with pledged collateral work?

SPs can use pledge collateral already locked in their existing miners to borrow FIL, enabling them to scale operations without buying more FIL.

What are the benefits of gaining cash advances on vesting block rewards?

SPs can withdraw FIL from their miners immediately, rather than waiting for the rewards to fully vest.

How does GLIF ensure SPs retain ownership of their assets?

GLIF uses smart contracts that enable SPs to maintain ownership over their miner actors while borrowing FIL. Read here for more details.

What is the interest rate for borrowing FIL from GLIF?

The current interest rate is 15% APR. However, as baseline rewards on Filecoin continue to drop, the rate may be lowered in the near future.

How can SPs withdraw funds from GLIF not used for sealing?

SPs can withdraw FIL as long as their DTL ratios stays below 75%. Read here for more details.