1. Project introduction

Golem Network is an accessible, reliable and censorship-resistant protocol, democratizing access to digital resources and connecting users through a flexible, open-source platform.

Golem is a global, open source, decentralized supercomputer that anyone can access. It is made up of the combined power of users’ machines, from PCs to entire data centers.Golem is capable of computing a wide variety of tasks, from CGI rendering, through machine learning to scientific computing.

Golem connects computers in a peer-to-peer network, enabling both application owners and individual users ("requestors") to rent resources of other users’ ("providers") machines. The function of Golem as the backbone of a decentralized market for computing power can be considered both Infrastructure-as-a-Service (IaaS), as well as Platform-as-a-Service (PaaS). Golem's marketplace will enable requestors to become providers: because most of them will need additional resources only occasionally.

The Golem Network Token ("GNT") account is a core component of Golem and is designed to ensure flexibility and control over the future evolution of the project. GNT is created during the crowdfunding period (described in this whitepaper) and, following the first major release of Golem, GNT will be attributed a variety of functions in the Golem network. Users get GLM rewards by renting out idle computing power, while project parties or institutions that need computing power obtain security support for computing power by paying GLM.

The Golem Network’s former token, GNT, began its migration to GLM at the end of 2020 at 1:1 ratio.

2. Team introduction

co-founder, CEO: Piotrek 'Viggith' Janiuk

Linkedin: https://www.linkedin.cn/incareer/in/viggith/

Chief Product Officer: Paweł Burgchardt

Linkedin: https://www.linkedin.cn/incareer/in/pawe%C5%82-burgchardt-43406465

3. Investment institution

Atopia Capital, Monday Capital, NueValue Venture, Outlier Ventures, XDL Capital Group

4. Application and distribution

Total supply: 1,000,000,000

Token application:

GLM, former GNT, is used to pay for the computing power that users rent or as compensation for providing compute. As a provider, users're free to set the GLM rental price. Because Golem is a marketplace, these prices should find an equilibrium over time. GLM is also required to submit deposits as a provider and participate in the application registry.

Token distribution:

Crowdfunding participants: 820 000 000 (82%)

Golem team 60 000 000 (6%)

Golem Factory GmbH 120 000 000 (12%)