Geist Finance Spotlight – Fantom Network
Geist Finance Spotlight – Fantom Network. Built on the Fantom Opera blockchain, Geist’s money market protocol allows users to earn interest on their deposited assets, and borrow any assets listed on Geist in an overcollateralized way. And now, Geist Finance Spotlight – Fantom Network.
The Geist asset spotlight is an educational series intended to introduce users to the many assets available as collateral on Geist and aid users in their research, earning strategies, or their fear of ghost-themed chains and protocols.
Abstract
Fantom is a high-performance, scalable, EVM-compatible, and secure smart-contract platform. It is, as of writing, the 7th network ranked by total value locked (TVL). The Fantom blockchain mainnet went live in December 2019 and Fantom’s native token, FTM, powers the entire Fantom blockchain ecosystem.
The FTM supply
There is a total supply of 3.175 billion FTM, with 2.5 billion in circulation according to CoinGecko. The remainder will be distributed as Fantom staking rewards.
At the moment, FTM is available as a native mainnet token, ERC-20, and BEP-2.
- Fantom Opera Mainnet Token
The Opera FTM token is used for network fees, securing the network through staking, and on-chain governance. - ERC-20
The ERC-20 FTM version of the token is usable on Ethereum. - The Binance Chain (BEP-2) token
BEP-2 FTM are Binance Chain tokens. Not to be confused with the Binance Smart Chain (BNB Chain) smart-contract platform, the Binance Chain handles transactions on the Binance DEX.
The FTM use-cases on Geist
Geist allows users to obtain liquidity against their FTM collateral in a capital-efficient way. This allows FTM holders to expand their earning potential on their FTM by earning passive income on their assets. Geist creates new and exciting options for FTM holders with lending and borrowing. All this uses a safe and reliable open-source codebase based on Aave v2.
The current market size for FTM on Geist is an impressive $36m USD, and the liquidation threshold is 65%, allowing users to expand their borrowing power with a relative degree of safety.
Geist Finance
Geist Finance is a decentralized, non-custodial liquidity market protocol operating on the Fantom Opera blockchain. The core Geist protocol is a lending market that functions near-identically to Aave. Users may borrow and lend different assets with variable interest rates.
