Glitch

Purpose and Utility

Glitch Protocol aims to be a blockchain platform specifically designed for decentralized finance (DeFi) applications, with a focus on low transaction fees and high throughput. The GLCH token serves as the native currency for the network and is used for governance, staking, and transaction fees.

Business Model Evaluation

The platform's core functionality revolves around providing infrastructure for DeFi applications. While some DeFi applications can involve interest-bearing products or lending, the platform itself is neutral infrastructure that can be used for both permissible and impermissible activities.

Real-World Adoption and Usage

The project has shown limited adoption thus far. Development activity appears to have slowed significantly since 2021, with minimal recent updates to their GitHub repositories or social media channels.

Token Distribution and Vesting

Initial token distribution allocated 45% to the ecosystem and community, 20% to the team and advisors, 15% to private sale, 10% to public sale, and 10% to reserves. Team tokens had a vesting schedule of 24 months.

Technology and Revenue Model

The platform uses a Proof of Stake consensus mechanism for network security and validation. Transaction fees are paid in GLCH tokens and distributed to network validators.