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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  • What is GLIF?
  • Problem Statement
  • The History of GLIF
  1. Introduction

GLIF Overview

GLIF - Filecon's foundational DeFi primitive.

PreviousQuick GuideNextProtocol Users

Last updated 11 months ago

What is GLIF?

GLIF is the foundational DeFi primitive of - enabling Filecoin token holders to earn sustainable rewards on their FIL by lending (aka “leasing”) it to a diverse pool of Filecoin Miners (also known as “Storage Providers”). Storage Providers borrow FIL to use as pledge collateral in Filecoin mining, which helps Storage Providers grow and simultaneously improves the security of the Filecoin network. Similar to "liquid staking" solutions for PoS networks like or , GLIF solves a major capital inefficiency on the Filecoin network, and is Filecoin's first and most popular DeFi protocol.

Problem Statement

Prior to the launch of the in March of 2023 (Filecoin’s built-in virtual machine allowing developers to deploy custom solidity smart contracts to the Filecoin blockchain), the network was bottlenecked with capital inefficiencies. Storage Providers (the network’s “Miners”) had no permissionless, efficient, and flexible way to borrow FIL to use as storage mining collateral, and the majority of Filecoin token holders had no safe and accessible opportunities to lend FIL to Storage Providers to earn native, sustainable rewards.

GLIF fills the gap between FIL token holders and Storage Providers through the use of smart contracts, creating a highly efficient, scalable, and trust-minimized marketplace with predictable rules. GLIF enables token holders to sustainably earn rewards and Storage Providers to scale their growth.

The History of GLIF

The GLIF brand has been a long-term trusted partner of the Filecoin ecosystem since early 2019, receiving more than 4 million dollars in grant funding from Protocol Labs and the Filecoin Foundation to build critical apps and tools for the Filecoin network. Most notably, GLIF built the first Filecoin web wallet and multisig wallet for Filecoin’s Mainnet launch, which are still widely used today across the ecosystem for Filecoin payments, ecosystem grants, and general day-to-day operations.

In 2023, GLIF received dollars in venture capital funding led bywith participation from , ,, , and to continue our work on Filecoin’s foundational DeFi primitive.

Filecoin
Lido
Jito
FVM
4.5 million
Multicoin Capital
Fenbushi Capital
Dialectic
Zee Prime Capital
Fintech Collective
Big Brain Holdings