The information about the Golem (GLM) token is as follows: Golem (GLM) is an ERC-20 token launched on the Ethereum blockchain, serving as the native utility token of the Golem Network, a decentralized platform designed to create a global marketplace for computing power. The project was initiated by Golem Factory, with its initial crowdfunding event held in November 2016, raising 820,000 ETH in just 29 minutes for a total supply of 1 billion Golem Network Tokens (GNT). Golem officially launched on the Ethereum Mainnet in April 2018, marking its transition to a functional network. In November 2020, the original GNT token migrated to GLM at a 1:1 ratio to align with Ethereum’s Layer 2 scaling solutions and ERC-20 standards, enhancing compatibility with decentralized finance (DeFi) ecosystems and decentralized exchanges (DEXes). The migration process, supported by exchanges like Coinbase and Huobi, aimed to maintain the same maximum supply of 1 billion tokens.

The Golem Network enables peer-to-peer transactions where users, known as Requestors, can rent computing resources from Providers who offer their idle hardware, such as CPUs or GPUs, in exchange for GLM tokens. This decentralized supercomputer breaks down complex tasks—like AI computations, CGI rendering, or scientific simulations—into smaller subtasks distributed across the network for parallel processing, leveraging Ethereum’s smart contracts for secure, trustless execution. GLM is used to pay for these computational services, cover gas fees on the blockchain, and incentivize Providers to contribute resources. The platform’s open-source nature, with its codebase available on GitHub, encourages community development and integration with tools like the JS API and Ray interface for diverse applications.

Originally pitched in 2016 at DEVCON0 by founders including Julian Zawistowski, Andrzej Regulski, and Aleksandra Skrzypczak, Golem aimed to democratize access to computing power, competing with centralized cloud services like Amazon Web Services. Posts on X and web sources highlight its pioneering role as one of Ethereum’s earliest ICOs and its evolution into a key player in decentralized physical infrastructure networks (DePIN). GLM also plays a governance role within the ecosystem, though its primary function remains transactional. The network has since expanded compatibility to Polygon for lower-cost transactions and is exploring GPU support for AI and machine learning, reflecting its adaptability to emerging tech trends. Despite its long history, Golem continues to evolve, with a focus on fostering an innovative, collaborative ecosystem for distributed computing.