Geist FTMPrice

(GFTM)

Geist Finance was a decentralized, non-custodial liquidity market system on the Fantom Opera blockchain. It addressed the need for efficient lending and borrowing services within the Fantom ecosystem. Users could act as depositors to earn passive income by providing liquidity or as borrowers to access funds, with algorithmic interest rates determining the cost of borrowing and the yield for depositing. It aimed to provide a robust DeFi lending platform.

Geist Finance operated on the Fantom Opera blockchain, leveraging its speed and low transaction costs. Its core protocol was inspired by Aave, a well-established DeFi lending protocol, suggesting a battle-tested and robust technical foundation for its smart contracts. For secure asset pricing, the protocol utilized external oracles from both Chainlink and Band Protocol, ensuring reliable and tamper-proof data feeds for its lending and borrowing operations.

GEIST was the native token of Geist Finance, primarily functioning as a revenue-sharing token rather than a governance token. Its tokenomics were designed to reward platform participation; 50% of all platform fees generated were distributed to GEIST stakers. This mechanism incentivized holding and staking GEIST, aligning user interests with the protocol's success by sharing a direct portion of its operational revenue with its dedicated community members.

Users in Geist Finance were incentivized through multiple avenues. Depositors earned passive income by supplying assets to the liquidity pools. Borrowers also received incentives, often in GEIST tokens, to encourage loan origination. Furthermore, those who staked their GEIST tokens were rewarded with 50% of the platform's generated fees. Liquidity providers for the GEIST/FTM pool also earned GEIST rewards, fostering token liquidity and deeper markets for the native asset.

Geist Finance prioritized security by leveraging established code standards, indicative of its Aave-inspired foundation. It employed robust oracle solutions from Chainlink and Band Protocol to ensure accurate and secure asset pricing, mitigating risks associated with price manipulation. Furthermore, the protocol utilized a five-person multisignature (multisig) wallet for critical operations and incorporated Timelock contracts. These measures added layers of protection against unauthorized access and allowed for delayed execution of significant changes, providing transparency and review time.

As of today, Geist Finance is no longer an active decentralized finance (DeFi) protocol. Its core functions were officially discontinued in 2023, primarily due to disruptions within the broader Fantom ecosystem. There has been no official reactivation or relaunch of the protocol since its discontinuation. Consequently, engaging with any associated tokens or historical references to Geist Finance carries significant risk, including the potential for total loss of funds, and users should exercise extreme caution.