Benefits for Storage Providers
Benefits at a Glance for Storage Providers
GLIF+ Card holders receive two primary benefits:
Increased borrowing limits - up to 10x leverage (tier-dependent)
FIL interest cash back - pay part of your interest in $GLF and receive FIL back at a premium
Increased borrowing limits
Active GLIF+ cardholders receive higher borrowing limits, up to 10× leverage. See the Tier Table for exact limits per status.
FIL Interest Cash-Back
Today, SPs who want to realize FIL from their $GLF typically swap $GLF→$FIL on SushiSwap or via our site. The Cash-Back program is a more efficient alternative: use $GLF to cover a portion of each interest payment and receive FIL back at a premium.
How it works:
You’ve borrowed from GLIF and have interest due.
You hold an active GLIF+ Loyalty Card (see activation steps in next section).
You fund your Card with $GLF for cash-back.
Once funded, up to 10% of every interest payment can be redeemed with your $GLF. The protocol swaps your $GLF into FIL at a premium determined by your tier—up to +25% for Gold members. See the Tier Table for details.
Example
Imagine you're a Storage Provider with a Silver card, and 1000 FIL in outstanding interest owed to the GLIF Protocol.
You load up your GLIF+ Loyalty Card with 10000 GLF Tokens to participate in the Cashback program.
When you make your interest payment of 1000 FIL, 10% of the payment (100 FIL) is eligible for cash back.
The Protocol looks at the current price of FIL:GLF on the market, and applies the Tier premium to the exchange rate.
For simplicity purposes, let's say the base price of FIL:GLF ⇒ 1 FIL : 0.005 GLF
The Silver tier premium is +10%, so the premium price for Silver Tier Card holders is 1 FIL = 0.0055 GLF
The Protocol makes the 100 FIL available to the Card holder, in exchange for 18181.8 GLF Tokens
The end effect is that the Storage Provider was able to swap 18181.8 GLF Tokens for 100 FIL after paying interest. If the SP had tried to swap 18181.8 GLF Tokens on the DEX for FIL, after fees and slippage, the trade would result in significantly less FIL tokens.
TWAP Pricing
DEX prices can be volatile. For security, cash-back uses a 7-day time-weighted average price (TWAP) for $GLF. Short-term price spikes do not impact the TWAP. Tier premiums are applied over the program’s TWAP price.
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