[Crypto projects](https://revain.org/projects/) › Golem Network

# 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

## Key facts

- **Ticker**: GLM
- **Official site**: [golem.network](https://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](https://defillama.com/hacks), [hacked.slowmist.io](https://hacked.slowmist.io/), [rekt.news/leaderboard](https://rekt.news/leaderboard/), [blog.golem.network](https://blog.golem.network/), [golem.network/disclaimer](https://golem.network/disclaimer)

## Official GLM contracts

| Network | Contract address |
|---|---|
| Ethereum | [0x7DD9c5Cba05E151C895FDe1CF355C9A1D5DA6429](https://etherscan.io/token/0x7DD9c5Cba05E151C895FDe1CF355C9A1D5DA6429) |
| Polygon | [0x0B220b82F3eA3B7F6d9A1D8ab58930C064A2b5Bf](https://polygonscan.com/token/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](https://golem.network/)
- Docs: [docs.golem.network](https://docs.golem.network/)
- Whitepaper: [cdn.prod.website-files.com/62446d07873fde065cbcb8d5/62446d07873fdeb626bcb927_Golemwhitepaper.pdf](https://cdn.prod.website-files.com/62446d07873fde065cbcb8d5/62446d07873fdeb626bcb927_Golemwhitepaper.pdf)
- Source code: [github.com/golemfactory](https://github.com/golemfactory)
- Blog: [blog.golem.network](https://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](https://golem.network/)
- [Golem Network — About](https://golem.network/about)
- [Golem Network — GLM token](https://golem.network/glm)
- [Golem Docs — What is GLM](https://docs.golem.network/docs/golem/overview/golem-token)
- [Golem Docs — Golem overview](https://docs.golem.network/docs/golem/overview)
- [Golem Docs — Payments](https://docs.golem.network/docs/golem/payments)
- [Golem Blog — GNT to GLM Migration (19 Nov 2020)](https://blog.golem.network/gnt-to-glm-migration/)
- [Golem Network — Disclaimer](https://golem.network/disclaimer)
- [GitHub — golemfactory/yagna](https://github.com/golemfactory/yagna)

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Page updated: 2026-10-31

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Source: https://revain.org/projects/golem-network-tokens/