Agents

The Storage Provider's tool for borrowing

Overview

The major difference between GLIF and all other CeFi/DeFi lending protocols is that the Storage Provider stays in control of their Miner Actors. The protocol achieves this through the "Agent Architecture".

What is an Agent?

The Agent is a smart contract that sits between an SP and the Infinity Pool. The Agent is responsible for alleviating the “lock in” that any other DeFi or CeFi staking/lending/leasing solution suffers from by abstracting the ownership of an SP from the pools it borrows from.

The Storage Provider owns and operates their Agent smart contract, which interacts with the Pool

Every SP in the system deploys, owns, and controls their own Agents. Agents are operated from the GLIF CLI.

Adding equity to your Agent

In order to borrow, an Agent needs equity. An Agent obtains equity by pledging Filecoin Miner Actors to it. The more Filecoin Miner Actors pledged to an Agent, the more equity it accrues.

Agents accrue borrowing power by pledging Miner Actors

The SP can remove Miners from their Agent at any time, so long as they have enough equity left on their Agent to collateralize the outstanding borrowed funds from the Pool.

This section of the documentation tells you everything you need to know about Agents, how they work, and how to get started.