GLIF

GLIF receives a C risk grade (43/100) from Hindenrank, where lower scores indicate lower risk. Moderate-high risk — first-of-its-kind liquid leasing protocol on Filecoin with novel credit model for Storage Providers, but untested under stress and dependent on thin Filecoin DeFi liquidity GLIF is the largest DeFi protocol on Filecoin, operating as a 'liquid leasing' platform where FIL holders deposit tokens into a pool that is lent to Storage Providers (the hardware operators who run the Filecoin network). Depositors receive iFIL, a liquid token that accrues value from SP lease payments. With $32M in TVL, GLIF pioneered an entirely new category of DeFi lending tailored to Filecoin's unique storage mining economy. The protocol has been audited by Consensys Diligence and received $4.5M in funding from Multicoin Capital and others. However, its novel liquid leasing model has no precedent, and Storage Provider defaults could leave depositors with losses.

The key risks identified for GLIF are: (1) GLIF lends to Filecoin Storage Providers who may not have full collateral backing — if these operators default or get slashed, depositors could lose part of their funds with no guarantee of full recovery. (2) The iFIL token can only be easily redeemed if there is enough liquid FIL in the pool. If many people try to withdraw at once, redemptions could be delayed for weeks while FIL is recalled from SP leases. (3) GLIF operates on Filecoin, which has a much smaller DeFi ecosystem than Ethereum. This means less secondary market liquidity if you need to sell iFIL quickly.

GLIF scores 43/100 across eight risk dimensions: Mechanism Novelty: 8/15, Interaction Severity: 8/20, Oracle Surface: 4/10, Documentation Gaps: 3/10, Track Record: 8/15, Scale Exposure: 3/10, Regulatory Risk: 2/10, Vitality Risk: 7/10. The highest risk area is Vitality Risk at 7/10.

Among 83 rated Liquid Staking protocols on Hindenrank, GLIF ranks #73 by safety (lowest risk score = safest). Its 43/100 risk score and C grade place it among the riskier Liquid Staking protocols.

GLIF scores 8/15 on the Track Record risk dimension, indicating some history of security incidents or exploits. Higher scores reflect more severe or frequent incidents. Review the full risk report for details.