GLIF Docs
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V2 English
  • Introduction
    • Quick Guide
    • GLIF Overview
    • Protocol Users
  • For Liquidity Providers
    • Benefits for token holders
    • GLIF Reward Mechanism - iFIL
    • Exit - Withdraw FIL
    • Asset Security
    • Risks
  • For Storage Providers
    • Benefits for Storage Providers
    • SP Liquidation Values
    • Borrowing Limits & DTL
    • Uses of Borrowed FIL
    • Liquidations
    • Borrowing Cost
    • Manage Miner Actors with Agents
    • Guarantor Model
  • Developer Resources
    • GLIF SDK
    • GLIF CLI
    • Deployed Contracts
  • TROUBLESHOOTING
    • FAQ
      • FAQ for Liquidity Providers
        • About GLIF
        • Deposit FIL
        • Withdraw FIL
        • Risk
        • Wallet Connection
        • GLIF Points
        • Miscellaneous
      • FAQ for Storage Providers
        • Borrow and Withdraw FIL
        • Key Financial Ratio
        • Payment
        • Liquidation
        • Agents
        • Transaction Issue
    • TUTORIALS
      • For Token Holders
        • Wallets
          • How to find your corresponding 0x/f410 wallet address
          • How to obtain a Ledger wallet as the intermediary wallet
          • How to obtain a burner wallet as the intermediary wallet
          • How to obtain a FilSnap wallet as the intermediary wallet
          • How to connect your wallet to Filecoin Mainnet
          • How to transfer FIL from a 0x address to an f1 address
          • How to create a multisig wallet on GLIF
        • Using the Pool
          • Deposit FIL into GLIF to earn rewards
          • How to deposit Filecoin from a hardware wallet with GLIF
          • How to deposit FIL to GLIF using multisig wallet
          • Withdraw FIL from GLIF
          • How to withdraw FIL from GLIF using a multisig wallet
        • Transfer FIL to/from exchanges
          • Transfer FIL between exchange and GLIF
          • Binance
            • Transfer FIL from Binance to GLIF
            • Transfer FIL from GLIF to Binance
          • MEXC
            • Transfer FIL from MEXC to GLIF
            • Transfer FIL from GLIF to MEXC
      • For Storage Providers
        • GLIF Agent Website Tutorial Part I— Preparation Setup
        • GLIF Agent Website Tutorial Part II — Create your Agent
        • GLIF Agent Website Tutorial Part III — Add Your Miner
        • How to withdraw FIL from the agent to an exchange at GLIF
      • How to Claim $GLF Airdrop
    • Glossary
    • Contact Us
  • Governance
    • Governance
    • Delegation
    • Proposals (GIPs)
    • Voting Process
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On this page
  • Economic security - liquidation mechanism
  • Code security - audits and continuous monitoring
  1. For Liquidity Providers

Asset Security

Asset security is GLIF's #1 priority

PreviousExit - Withdraw FILNextRisks

Last updated 9 months ago

Economic security - liquidation mechanism

GLIF economic security is based on Storage Providers (SPs) consistently staying over-collateralized. If an SP breaches its collateral limits, the SP will be liquidated, and the recovered assets paid back to the pool on behalf of SPs before losses occur. GLIF measures collateralization using the value ratio, which measures how much an SP has borrowed compared to its liquidation value. Liquidation value is the estimated value of an SP in a , accounting for penalties and other losses.

Read more about the here.

Code security - audits and continuous monitoring

GLIF has been building financial infrastructure for Filecoin token holders since 2019. The security of GLIF users has and always will be the top priority. Our DeFi protocol has undergone 5 security evaluations:

  • A 10 person week informal review by to give early feedback and design critiques of our architecture

  • A 5 person week formal review by the top DeFi auditors at Consensys Diligence

  • A 20 person, invite only audit competition run through, with experienced DeFi auditors

  • Consensys Diligence V2 protocol audit

  • Hexens V2 protocol audit (report will be uploaded once finished)

In audition to code audits, GLIF continuously monitors the protocol for collateralization limit breaches and suspicious or unusual activity.

debt-to-liquidation (DTL)
liquidation scenario
economic safety rules
Consensys Diligence
(see report here)
Sherlock
(see report here)