Golem Network (GLM): how it works, supply and reviews
In short
- Type
- Peer-to-peer compute marketplace of provider and requestor nodes running the Golem service (Yagna).
- Maximum supply
- Capped at 1,000,000,000 tokens (GNT plus GLM combined).
- Risks and caveats
- Golem's own disclaimer describes the network as highly experimental, with a risk of lost funds and non-payment.
- Checked
- 31 October 2026
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Key facts
- Ticker
- GLM
- Official site
- golem.network
Key facts checked on 31 October 2026 against official sources.
What is Golem Network
Golem Network is an open-source, decentralised marketplace for computing power: providers rent out unused CPU and GPU resources and requestors pay for them in GLM. GLM is an ERC-20 token on Ethereum and Polygon that replaced the original 2016 GNT token through a 1:1 migration started in November 2020. Development is led by Golem Factory GmbH in Zug, Switzerland.
Network and consensus
| Parameter | Details |
|---|---|
| Type | Peer-to-peer compute marketplace of provider and requestor nodes running the Golem service (Yagna). |
| Runs on | Payments in GLM on Ethereum mainnet or, preferably, a Layer 2; most provider payouts go through Polygon. |
| Smart contracts | GLM is an ERC-20 token, available on Ethereum and Polygon. |
Supply and issuance
| Parameter | Details |
|---|---|
| Maximum supply | Capped at 1,000,000,000 tokens (GNT plus GLM combined). |
| Initial distribution | GNT was sold in a crowdfunding that began on 11 November 2016 and hit its target in 29 minutes. |
| Issuance | GNT converts to GLM at 1:1 with no deadline; the migration is still ongoing. |
What GLM is used for
- GLM pays providers for renting out computing resources to requestors.
- Requestors also pay the blockchain transaction fees for GLM payments.
Who develops and governs Golem Network
- Company
- Golem Factory GmbH, Gartenstrasse 5, 6300 Zug, Switzerland.
- Developer
- Golem Factory GmbH developed the Golem Network and ships the provider software.
- Open source
- The Yagna node software is published on GitHub under GPL-3.0.
History
| Date | Event |
|---|---|
| 11 November 2016 | GNT crowdfunding starts and reaches its target in 29 minutes. |
| 2018 | Brass Golem, the first Golem implementation, launches on Ethereum mainnet. |
| 19 November 2020 | The GNT to GLM migration launches; GLM is an ERC-20 token so payments can move to Layer 2. |
| 2021 | A new modular Golem core protocol launches and payments integrate with Polygon. |
| 2023 | Golem Portal (Alpha) launches, with GPU support for Blender and a Stable Diffusion proof of concept. |
Security and audits
- The GNT to GLM migration contracts were audited; Golem links an audit report from the launch post.
- Golem's disclaimer calls the network highly experimental and warns that tokens sent to insecure software may be lost.
Security incidents
No security incident is recorded in the sources checked on 31 October 2026 (the company’s own channels and incident databases): defillama.com/hacks, hacked.slowmist.io, rekt.news/leaderboard, blog.golem.network, golem.network/disclaimer
Official GLM contracts
| Network | Contract address |
|---|---|
| Ethereum | 0x7DD9c5Cba05E151C895FDe1CF355C9A1D5DA6429 |
| Polygon | 0x0B220b82F3eA3B7F6d9A1D8ab58930C064A2b5Bf |
Do not send GNT directly to the GLM contract; use the official migration service at migrate.golem.network.
Risks and caveats
- Golem's own disclaimer describes the network as highly experimental, with a risk of lost funds and non-payment.
- Requestors pay blockchain transaction fees on top of provider payments, which can be a large share of small payments.
- Legacy GNT must be migrated through the official service; sending GNT straight to the GLM contract is warned against.
Official links
- Website: golem.network
- Docs: docs.golem.network
- Whitepaper: cdn.prod.website-files.com/62446d07873fde065cbcb8d5/62446d07873fdeb626bcb927_Golemwhitepaper.pdf
- Source code: github.com/golemfactory
- Blog: blog.golem.network
Questions and answers
What is Golem Network?
An open-source, decentralised marketplace where providers rent out computing power and requestors pay for it in GLM.
What happened to GNT?
GNT, the 2016 token, converts to the ERC-20 token GLM at 1:1 through migrate.golem.network; the migration started on 19 November 2020 and has no deadline.
What is the maximum supply of GLM?
Supply is capped at 1 billion tokens, the same as GNT.
Who is behind Golem?
Golem Factory GmbH, based in Zug, Switzerland.
Sources
- Golem Network — homepage
- Golem Network — About
- Golem Network — GLM token
- Golem Docs — What is GLM
- Golem Docs — Golem overview
- Golem Docs — Payments
- Golem Blog — GNT to GLM Migration (19 Nov 2020)
- Golem Network — Disclaimer
- GitHub — golemfactory/yagna
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