Glow: Is It A Scam? – Find Out All There Is About Glow Token!
I know I would be pretty careful when investing in something unchecked, so finding out is Glow legit and whether it can make you decent money or whether it is a scam will be essential before purchasing anything.
That’s why I’ve been quite engaged with Glow and everything revolving around it – as in, I took an interest in Glow, informed myself, and got some hands-on experience with Glow before writing this.
And from that experience, I can confirm that there is a lot to talk about when it comes to how to buy Glow, how it makes you money, token distribution, and airdrops.
I know you all want to know whether this token is a scam or not, and I’m going to tell you about my stance on that, too – so, keep reading!
What Is Glow? – The Basics
“Glow is a programmable yield ecosystem built on Terra. We’re building a world of yield-focused dApps to make $UST the currency of the internet.”
Now, that might not mean much right now – but that’s why I’m here. Let’s take Glow apart and see what its creators wanted to tell us exactly:
There are several decentralized apps or dApps within the Glow ecosystem. You’ve seen some examples of this app ecosystem model in other spheres – such as the Facebook ecosystem and the Apple App Store.
All these ecosystems operate in a similar fashion, and the primary idea here is to have a series of complementary, interconnected apps within the same community.
The most significant difference is that apps found on Glow are decentralized Web3 apps.
What does this mean?
The whole community earns from contributing to the ecosystem and using said apps.
That is the part where some of you that are skeptics ask, “Well, how does that work?” and your question is perfectly valid. In the simplest terms possible:
You make crypto with your crypto through earning yield on your deposits.
That might remind some of you of standard interest-earning through depositing your cash to the bank. And it is – but with much more money to make.
Also, you shouldn’t forget that you’re reaping all the benefits of decentralized finance along the way.
Glow Lotto is one of the dApps found within that ecosystem that you can use to win even more money.
It’s based on the Anchor protocol, and the idea behind it is simple:
- You use UST to buy lottery tickets
- You receive 5% APR interest on your UST + GLOW tokens
- Possible lottery win every week (paid in UST)
- A chance to participate in the governance protocol when staking GLOW tokens, meaning you can vote for future decisions that’ll shape the protocol
As you can see, the idea behind it is pretty straightforward. The most notable thing here is that you can participate in the governance protocol – which is one of the leading ideas of Web3.
|The idea behind Web3 – a new phase of the World Wide Web that’s based on blockchains – is decentralization and democratization of the Internet. It’s supposed to “break free” from central gatekeepers and step away from the monopolistic control and corporatization we see today.|
GLOW Token – What Is It And How It Works
The Glow token (GLOW) is both protocol-governance and revenue-generating.
Simply said, by investing in Glow, you can:
- Vote on future decisions of the protocol
- Earn from the income generated by the dApps in the Glow ecosystem
Now, how is that possible?
Well, it’s pretty simple:
The higher the Total Value Locked GLOW tokens locked, the higher the weekly yield that’s generated from Anchor.
And again, Glow Lotto is a fantastic example here:
When a prize is distributed, the Glow protocol will take a 5% cut – which goes to the reserve that is distributed among all the Token holders.
Furthermore,Glow is based on several apps that generate revenue. When the income grows, the value of the GLOW token will rise with it.
That means that the returns on your investments will be greater as well. Also, this increases the awards distributed at the Glow Yield Weekly Lottery.
Glow Token Distribution
Let’s take a look at how Glow token is distributed – and how its distribution works.
First off, you should be aware that there is a total of 1,000,000,000 GLOW tokens – as in, there won’t be any more created in the future.
Now, let’s get to the distribution:
Glow Ecosystem Fund: 300,000,000 (30%)
Over the following five years, the community will distribute these Glow tokens to fund strategic investments and grants.
Team & Early Contributors: 225,000,000 (22.5%)
These tokens are vested for the following two years – and won’t be touched until then.
That means that 22.5% of the tokens are reserved for the Glow team and early contributors for the following two years, with a six-month lock-up – meaning you can’t sell them within the first six months from the initial launch date.
Depositor Rewards: 150,000,000 (15%)
These tokens are set aside as incentives for users and depositors.
Investors: 100,000,000 (10%)
This portion of Glow tokens is allocated to the builder’s round, vested over 18 months with a six-month lock-up.
Pylon Gateway: 25,000,000 (2.5%)
A significant portion of these tokens – 21M, to be precise – will be distributed across three Pylon pools. The rest (4M tokens) will be reserved for future initiatives with the Pylon community.
Community Airdrops: 50,000,000 (5%)
These tokens will be distributed at the genesis and split among LUNA stakers, ANC stakers, ANC holders, and ANC UST depositors.
WarChest: 50,000,000 (5%)
This reserve is set aside to cover a range of operational expenses, including future audits and bug bounties.
Liquidity Providers: 100,000,000 (10%)
These tokens are allocated to incentives for users who provide GLOW-UST liquidity for the next two years.
Glow Airdrops (Fairdrops)
Now, it’s finally time for me to tell you about my favorite part – Glow airdrops.
Earlier in the crypto world, airdrops were so small and meaningless that they weren’t even worth opening and claiming since you would lose almost the entire airdrop on transaction fees.
That’s where Glow stands out – well, at least if you ask me.
Glow takes a different approach, setting a minimum number of LOOP each address will receive in the airdrop.
That way, the inequality in the distribution is prevented – meaning a few bigger whales won’t be taking it all. That said, it still recognizes the contribution of major stakeholders.
If you’re a Luna staker, Anchor staker, Anchor holder, Anchor depositor, or MINE staker, you can benefit from a Glow airdrop.
|A crypto airdrop is a promotional effort designed to raise awareness about blockchain-based startups and get more people involved in trading. It involves a promotional giveaway, where the platform gives out free coins or tokens to current holders of crypto wallets as a means of promoting a new virtual currency.|
I get that this might seem like yet another instrument for luring people into using a particular token or crypto coin in an attempt to milk them for their money. We’ve all witnessed enough examples of that over the years.
That’s not the norm, though – and the truth is, it all depends on the cryptocurrency.
But Glow seemingly thought about everything – the fact that they’re giving out so much in these airdrops just tells the airdrop receivers how much Glow believes in what they do, which is a gust of fresh air on the market.
Glow: Is It A Scam? – Summing Up
Okay, it’s time to sum up everything I’ve told you so far about Glow and Glow token. I know and understand that this is quite confusing to a significant portion of you – but clearing things up may lead to huge profits.
First of all, all of you should be very careful when investing your own money into these types of things – and you should trust only reliable sources.
On that note, this is the legit token address:
For those interested in investing immediately, the coin launched on January 10th this year, and you can either buy them in Terraswap or earn them.
All in all, if you’re just starting to get into crypto and are searching for something to invest in that won’t lead to worrying about making a profit, I believe this is the best opportunity to do so.
One more thing left to say is that after looking into everything that Glow has to offer, I do not think Glow is a scam, and I don’t think there’s any evidence that you should think differently.
In fact, I can see massive potential for growth here – and I’ve got a feeling that I’m not the only one.
So, all that’s left is to invest and start reaping your profits as soon as possible!