Geist USDCPrice

(GUSDC)

Geist USDC (gUSDC) is an interest-accruing token representing a USDC deposit within the Geist lending market. It acts as a receipt for deposited USDC, which subsequently earns interest. Built on the Fantom blockchain, gUSDC is designed as a stablecoin, aiming to maintain a stable value relative to the US Dollar, making it a potential store of value. The underlying USDC on Fantom is backed 1:1 by USDC locked in the Multichain protocol on the Ethereum network.

Geist Finance operates as a decentralized, non-custodial liquidity market on the Fantom Opera blockchain. Its design is based on the Aave protocol, a prominent DeFi lending platform. Users can deposit various digital assets to facilitate lending or borrow other assets against their collateral. The interest rates for these lending and borrowing activities are dynamic, determined algorithmically based on the current utilization of the asset pools. The protocol ensures accurate asset pricing through the integration of Chainlink and Band oracles.

Key risks associated with gUSDC and the Geist Finance platform include its classification as a "large-cap undercollateralized asset." There are also significant centralized dependencies, as gUSDC relies on a centralized entity for custody services and is exposed to the risks of both the Multichain and Geist protocols. A further concern for Geist Finance is the anonymity of its developers. Additionally, like all digital asset investments, acquiring gUSDC carries inherent general cryptocurrency market risks.

Information suggests that gUSDC has previously been associated with decentralized exchanges on the Fantom network, such as Curve. However, current availability and liquidity for gUSDC tokens may vary significantly across platforms. Users interested in trading gUSDC should consult up-to-date information directly from potential trading platforms for the latest status on market activity and available pairs.

To integrate gUSDC into your MetaMask wallet, you must import it as a custom token. This process involves obtaining the official gUSDC contract address, which for the Fantom network is `0xe578c856933d8e1082740bf7661e379aa2a30b26`. Once copied, navigate to the "Import tokens" section within your MetaMask wallet interface and paste the contract address into the designated "Smart Contract Address" field to complete the addition.

gUSDC functions as the interest-accruing stablecoin derivative within the Geist Finance lending market. In contrast, the GEIST token is the native asset of the Geist protocol. GEIST is designed as a revenue-sharing token, meaning it does not confer governance or voting rights. A significant portion of the revenue generated by the Geist protocol from its lending activities is distributed to users who stake GEIST. Furthermore, GEIST tokens have been utilized to incentivize participants, including both lenders and borrowers on the platform, as well as liquidity providers for specific token pairs.