Introducing the Geist Protocol Owned Dex Liquidity (PODL)
The PODL has been a very well received module by the Blizz community, absorbing over $250k of liquidity in it’s first two days. Due to overwhelming demand from the community, we are happy to announce that PODL is coming to Geist.
The Protocol Owned Dex Liquidity (PODL) is a module which receives 50% of Geist’s FTM treasury rewards. The PODL then allows users to sell GEIST/FTM LP tokens to the protocol in exchange for discounted FTM. All purchased LP tokens are locked forever, ensuring healthy ongoing liquidity and effectively making GEIST deflationary over a long enough timeframe.
The PODL implementation created by Blizz has been a great success so far, but it is not without issues. Several bots are already active, making it difficult for regular users to participate.
- In order to participate in PODL, you must have a locked GEIST balance.
- The maximum amount that a user can purchase is based on their locked GEIST balance as a % of the total GEIST locked
How to PODL
Starting in approximately 48 hours (Unix timestamp 1638046000), users can visit this page: https://geist.finance/sell-lp and sell their LP tokens to the protocol for FTM.
ABOUT Geist Finance
Geist is a decentralized non-custodial liquidity market protocol where users can participate as depositors or borrowers. Depositors provide liquidity to the market to earn a passive income, while borrowers are able to borrow in an overcollateralised (perpetually) or under-collateralized (one-block liquidity) fashion.
RESOURCES
Medium
