First published 20 November 2020, the day after the new token opened. Expanded in October 2026 so GNT and GLM are not added together into a two-billion supply. Golem is a marketplace for spare computing. You pay a provider for a task. Julian Zawistowski is the person most associated with the early project. The 2016 sale created 1 billion GNT and raised 820,000 ETH. GNT sat on Ethereum but was not an ERC-20, because the standard was not the obvious choice yet. Ethereum without the jargon is the ledger. ETH pays the fee. GLM does not. Golem is not a chain.
On 19 November 2020 the project opened a migration to GLM, an ERC-20, one for one. The GNT you migrate is burned. The project says the migration has no deadline, and that it is irreversible. GNT you have not sent through their contract is still GNT. Do not send GNT to a GLM contract address. That is not the migration. Use the project’s own page. A site that asks for a recovery phrase is not that page. This page will not walk through the click path.
The cap is 1 billion across both tokens, not 1 billion of each. Adding a GNT balance to a GLM balance and calling it the supply double counts the coins that have not moved. A price times 1 billion is the ceiling. It is not a count of GLM alone. Paying for a compute task is a job on the marketplace. It is not a dividend of GLM. Nothing here is an instruction to migrate, to rent a machine, or to buy GLM.
