Multicoin

Prime

Filecoin

DeFi

Quick take: 
<ul> 
 <li>The funding also attracted participation from Zee Prime Capital, Fintech Collective, Big Brain Holdings, and Protocol Labs.</li> 
 <li>This was Multicoin Capital’s first investment in a Filecoin-based Project.</li> 
 <li>The fundraising was done using a simple agreement for future equity (SAFE) with token warrants.</li> 
</ul> 
Liquid staking protocol Glif has completed a $4.5 million seed round led by Multicoin Capital. The fundraising also attracted participation from Zee Prime Capital, Fintech Collective, Big Brain Holdings, and Protocol Labs. 
The fundraising was completed using a simple agreement for future equity (SAFE) with token warrants, which gives investors the right to receive equity from Glif after certain conditions are met. 
According to the <a href="https://www.coindesk.com/business/2024/02/06/filecoins-liquid-staker-glif-raises-45m-hints-at-token-airdrop/#:~:text=Glif%2C%20one%20of%20its%20longtime,and%20retrieval%20on%20the%20network." target="_blank" rel="noreferrer noopener">announcement</a>, this was Filecoin’s first investment in a Filecoin-based project. Filecoin offers a decentralised storage data marketplace, protocol and cryptocurrency, thus playing the role of a store of value for Web3 projects. 
Glif has been one of the long-standing projects in the Filecoin ecosystem, offering a “liquid leasing” setup that allows holders of Filecoin “gas” tokens to earn yield on their staked tokens. 
The company plans to use the fresh capital to expand its liquid-bearing token iFIL as it looks to grow the protocol to 100 million FIL tokens deployed. “Our goal is to get to 100 million FIL deployed to storage providers in a couple of years,” Glif’s founder and CEO, Jonathan Schwartz said in a statement.&nbsp; 
Glif also plans to use some of the funds in security research, according to a post shared on the company’s official X account. 
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 We’re proud to announce a $4.5M seed round led by <a href="https://twitter.com/multicoincap?ref_src=twsrc%5Etfw">@multicoincap</a> with follow-on participation from <a href="https://twitter.com/ZeePrimeCap?ref_src=twsrc%5Etfw">@ZeePrimeCap</a>, <a href="https://twitter.com/Dialectic_Group?ref_src=twsrc%5Etfw">@Dialectic_Group</a>, <a href="https://twitter.com/fintech_io?ref_src=twsrc%5Etfw">@fintech_io</a>, <a href="https://twitter.com/BigBrainVC?ref_src=twsrc%5Etfw">@BigBrainVC</a>, <a href="https://twitter.com/fenbushi?ref_src=twsrc%5Etfw">@fenbushi</a>, <a href="https://twitter.com/VinnyLingham?ref_src=twsrc%5Etfw">@VinnyLingham</a>, <a href="https://twitter.com/protocollabs?ref_src=twsrc%5Etfw">@protocollabs</a>, <a href="https://twitter.com/manamgnt?ref_src=twsrc%5Etfw">@manamgnt</a> &amp; other angel investors. <a href="https://t.co/vKYct7pI85">pic.twitter.com/vKYct7pI85</a>— GLIF (@glifio) <a href="https://twitter.com/glifio/status/1754889320161231256?ref_src=twsrc%5Etfw">February 6, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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</figure> 
According to information obtained from the Glif Website, the protocol has more than $113 million in assets locked, generating an APY of more than 10%. The platform also claims to have paid more than $1.7 million in rewards. 
**** 
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The post <a href="https://www.nftgators.com/defi-platform-glif-secures-4-5m-seed-round-led-by-multicoin-capital/">DeFi Platform Glif Secures $4.5M Seed Round Led by Multicoin Capital</a> appeared first on <a href="https://www.nftgators.com">NFTgators </a>.

DeFi Platform Glif Secures $4.5M Seed Round Led by Multicoin Capital

NFTgators

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