Geist (Aave twin) exploding in TVL on Fantom!

Geist (Aave twin) exploding in TVL on Fantom!

By Kopi | kopiarticles | 20 Oct 2021


Fantom is on a surge currently. Following the surge in other platforms like Solana and Avalanche, it seems this platform is next (not financial advice at all).

With the launch of Geist (an Aave twin), TVL on Fantom has exploded exponentially. Even though it was only launched in Oct itself (we're still within a month from launch), it is commanding a phenomenal 30%+ of Fantom's overall and has accumulated a USD3b TVL at this point in time (see Thumbnail which is extracted just a couple of minutes ago).

Extract from: https://defillama.com/protocol/geist-finance

*There seems to be a discrepancy from defillama's number against Geist's number of 3b TVL... I'm not sure why. If anyone knows, happy if you could share!

46e2a7db1a500a067e575599ba16792935b51d603040356ee9d7e85c543e0b26.png

 

Extract from: https://defillama.com/chain/Fantom

b93095c0fa7535912e9cc37c64fc7db580f7393c7ec910c598597d1cd66c0986.png

 

The rates being offered on Geist is truly enticing - being paid to borrow currently (gotta act fast if you want!). This reminds me of the time Benqi (another Aave twin) which launched on Avalanche, which also had this "paid to borrow" launch promotion (if you'll call it that). How long the rates can last, it's anybody's guess.

85c58b3a9d1206742295f77b990e5327ce69d179f7980fbe1e64a1ec9000a67a.png

 

Do your own research and do keep a look out for some other projects/protocols on Fantom if you're interested! Cheers!

Some links for reference:

https://www.bfia.org/2021/10/09/anyswap-and-aave-fork-geist-finance-send-fantom-tvl-past-9-billion-ftm-makes-a-new-ath/

Image credit:

https://geist.finance/markets

 

 

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Kopi
Kopi

A cup of coffee a day, to pursue more knowledge.


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