The Expected Altcoin Sent to Users via Airdrop! Here's What You Need to Know

GLIF, the largest DeFi protocol on Filecoin, has officially launched its native token GLF.

As part of the launch, the protocol distributed 94 million GLF tokens through an airdrop that rewards users accumulating GLIF points through activities on the platform. The amount distributed through the airdrop represents 9.4% of the total GLF supply.

Initially, GLIF had allocated 100 million tokens for the airdrop, but later adjusted the final figure based on user participation. The remaining tokens will be returned to the community reward pool and distributed at a later stage.

GLF is currently serving as a governance token, but is working to expand the protocol's use case. Jonathan Schwartz, the founder and CEO of GLIF, said in an interview, "We are creating a loyalty program inspired by existing programs like airline miles." Although specific details have not been disclosed, Schwartz indicated a new mechanism that aims to bring the protocol into the DeFi and cryptocurrency space and enhance the benefits of the token.

The protocol enables FIL holders to earn rewards through liquid renting, a mechanism that allows Filecoin storage providers to borrow tokens. These providers use FIL as collateral to provide storage services, while lenders receive rewards in return.