What is Geist Finance (GEIST)? Lending platform

Currently on the market there are many Lending – Borrowing projects of ecosystems with different interest rates. In this article, GTA will introduce to you a Lending – Borrowing project on the Fantom ecosystem called Geist.

Come on, let’s find out together guys!

See more: What is Fantom (FTM)? Things to know about the Fantom ecosystem

Geist is a liquid market protocol Decentralized no custodial, where users can join as depositors or borrower. Depositors provide liquidity to the market to earn passive income, while borrowers can borrow in an over-collateralized fashion. (forever) or no mortgage (one block liquidity).

Why should you choose Geist?

  • Geist Finance is a lending and borrowing marketplace on Fantom based on one of the largest DeFi protocols AAVE.
  • AAVE has grown to become one of the most respected and secure protocols in space, but Geist wants to do things differently. The Geist protocol has no governance and no VCs (venture capitalist), instead it features a platform fee that shares income tokens between token holders and a liquidity provider. The protocol will always be permanent for everyone to use on the same basis.

Currently Geist is supporting up to 10 different languages ​​including Vietnamese, which means Geist will become more customer-friendly. With the Vietnamese language option, perhaps it will make it easier for you to use.

Geist is now providing users with solutions Lending, Borrowing, Staking (currently only GEIST tokens can be staked) and Locking.

How much can a loan help you earn?

Holders depositing gTokens receive a constant, renewed income with market conditions based on:

  • The payment of loan interest – depositors share the interest paid by the borrower in proportion to the period of the average loan interest compared to the used interest rate. The higher the reserve utilization, the higher the yield for depositors.
  • Flash Loan Fee – depositors receive a fraction of Flash Loan fees corresponding to 0.09% of Flash Loan volume.

Each asset has its own supply and demand market with APY (Percent Annual Return) on its own, which will grow over time.

Is there a minimum or maximum amount needed to deposit?

You can send any any amount you want, do not have minimum limit or maximum. However, it is important to take into account that for really low amounts, it is possible that the transaction costs of the process are higher than the expected income. You should consider this when depositing very low amounts.

How much can you borrow?

  • The maximum amount you can borrow depends on the amount you deposited and the available liquidity. For example, you cannot borrow a property if there is not enough liquidity or if your health factors do not allow you.
  • You can find every available collateral and its specifics for borrowing in the risk specifications section.

Staking GEIST

Staking GEIST helps you get 50% protocol revenue and you can Unstake whenever you want.

APY level that can be obtained when participating in GEIST stake

Locking GEIST

Like staking, with locking you will receive a portion of the protocol fee and will also receive the penalty fee from those who early unlock. Because in order to receive rewards from the Locking feature, you must accept the Geist token lock in 3 months and cannot be unlocked early.

APY level when participating in GEIST lock

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Basic information about Geist token

  • Token Name: GEIST
  • Ticker: GEIST
  • Blockchain: Fantom
  • Token Standard: ERC-20
  • Token type: native
  • Contract: 0xd8321aa83fb0a4ecd6348d4577431310a6e0814d
  • Total Max Supply: 1,000,000,000 GEIST
  • Total Supply: 949,149,963 GEIST

Token Use Cases

Geist is used to Staking and Locking.

  • Since GEIST has no admin or ownership rights, there is also no protocol treasury. Instead, 50% of the revenue generated through borrowing is distributed directly to users who stake GEIST. Both lenders and borrowers receive GEIST rewards for incentivizing protocol usage.
  • GEIST liquidity mining uses a mechanism first introduced by Ellipsis Finance on BSC. The bonus is awarded for 3 months, but can be claimed immediately with a 50% penalty. The penalty is then distributed to users who choose a GEIST lock for 3 months. This mechanism ensures a steady reward for those who actively commit to the protocol by locking their tokens.
  • GEIST stakers and GEIST lockrs will receive the protocol fee as well as the remaining reward from the penalty for early unlockers.

Token Allocation (allocation of tokens)

  • 40% rewards lenders and borrowers, issued over a period of 5 years
  • 20% reward for liquidity providers GEIST/FTM, issued over a period of 5 years
  • 20% allocated for airdrops and incentives to related DeFi communities, for a minimum of 1 year
  • 20% for Team, released linearly over 1 year

You can watch it live at: Geist Finance (GEIST) price, chart, market cap | CoinMarketCap

Currently, you can buy GEIST at the exchange (DEX). SpookySwap

Community Information

Geist Finance: https://geist.finance

Twitter: https://twitter.com/GeistFinance

Telegram: https://t.me/geist_finance

Geist is a Lending & Borrowing platform built on Fantom network, supporting collateral by stablecoins such as USDT, DAI, USDC and 2 dominant coins in the market, BTC, ETH. Come to Geist You will receive compound interest, that is, in addition to receiving deposit interest, you can also receive a reward of the project’s Geist token (GEIST can sell or participate in staking, locking), and for For those of you who need to borrow, I find Geist’s loan interest rate is also quite cheap. And if you are holding FTM, you can bring it here to earn compound interest!

Here is all the information GTA Research Team studied about Geist and this is not investment advice. Hope this article will help you get the necessary information.

See also: Fantom Update week 41 | DeFi in the blossoming Fantom ecosystem

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