Glif, the largest protocol on the Filecoin (FIL) network, has launched a significant airdrop program.
Glif, the largest protocol on the Filecoin network, has initiated a token program ahead of its token launch. A total of 75 million tokens will be distributed as part of this program.
The primary purpose behind this program is to decentralize protocol decisions and incentivize both Storage Providers (SP) and Liquidity Providers (LP).
Glif will distribute convertible tokens to both SP and LP in the future. The tokens can be converted to Glif’s native token at a 1:1 ratio. 50 million tokens will be distributed to past SP and LP, while 25 million tokens will be distributed to future SP and LP.
According to reports, the distribution of tokens to past SP and LP started on March 30, 2023. The distribution of tokens to future SP and LP will begin on March 28, 2023 and end on September 26, 2023. Tokens will be distributed every two weeks.
The tokens are referred to as the first step in decentralizing protocol decisions. Glif is expected to launch its token in the coming summer months.
Glif is a platform that provides liquidity lending services on the Filecoin network and is considered the biggest protocol.
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