Last week I introduced the world to Geyser (GYSR) and the yield farming of the future, the new DeFi project built on the Ethereum block-chain, configurable and has a 100% decentralized platform set for yield farming and asset distribution. The Geyser platform will reward users for long HODL and participation, using $GYSR as an universal token to multiply rewards and ensuring a continuous source of funding. Users can deploy a configurable yield farm, and holding $GYSR will be the similar to holding a DeFi index fund. GYSR aim is to support the DeFi ecosystem with 100% on-chain and fair tools for yield farming. All the above and in-depth explanation can be found on GYSR.io
Scrolling down the website will take you to the place where the earning starts. Click the "Start using GYSR" button to open the web app and gain access to the rewards. Links to all social media channels are located in the right side of the page.
Doing the above will direct users to the pools, where assets can be deposited for GYSR rewards. On the 31st of October, the TVL was $39 million.
Because I don't own any UNI or USDC, and WrappedBTC and WrappedETH are to complicated for me, I decided to stake some DAI into the pool. The pools are currently in the "Boiling' period, and GYSR tokens will be rewarded at the end, depending on the amount of time and the size of the deposit. Metamask was used to link to the GYSR app to send 62 Dai from Binance I had to pay 3 of them (3$) as a transfer fee. The fee for depositing started at $0.34 but was fluctuating so much that I had 5 tries before succesfully depositing the DAI, ending up with a $3.40 gas fee.
If users will unstake during the boiling period, they will forfeit any accrued share seconds and will not yield any rewards.
"Your share seconds" means the number of seconds a user accrued multiplied with the amount staked into the pool and is the amount earned in the Geyser. "Your reward share" represents the percentage of the unlocked reward the user is entitled to, based on share seconds while the Global Share Seconds are the number of seconds for each stake in the Geyser globally. All data will influence the GYSR reward for each provider.
As the Geysers are becoming more and more popular, the TVL while writing this article reached $52 million, with the USDC pool being the leader with $14 million locked. Only 1 and a half day left from the boiling period which is the first part of the GYSR token distribution.
The whole concept, the potential of growth and the idea of an additional source of income made me tap into the DAI GYSR. I am curious how much GYSR I will be rewarded and definitely my exploration and Geyser testing will not stop here.
* currently testing ReadCash
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Geyser (GYSR) and the yield farming of the future!
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