Data storage-centric blockchain Filecoin isn’t exactly known for its decentralized finance (DeFi) landscape. Glif, one of its longtime ecosystem contributors, is trying to change that. The startup has raised $4.5 million in seed funding from Multicoin Capital and other VCs to build out its tools for earning yield on FIL, Filecoin’s “gas” token that pays for data storage and retrieval on the network. The capital will help Glif expand its so-called “liquid leasing” setup, which centers on its yield-bearing liquid staking token iFIL, said CEO Jonathan Schwartz. The raise also sets the stage for an upcoming points program that will reward Glif’s users based on how much value their iFIL tokens have accrued.
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