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What is the GEIST token used for?

How the GEIST token is used. Geist is a money market for lending and borrowing on the Fantom blockchain. It’s a fork of the Aave protocol.

What is GEIST token?

GEIST is the utility token of Geist Finance.

What is GEIST token is used for?

  • Liquidity mining
  • Staking
  • Fees

What is Geist Finance?

Geist is a money market for lending and borrowing on the Fantom blockchain. It’s a fork of the Aave protocol.

How the protocol works

Users can deposit a number of tokens:

  • USDC
  • DAI
  • Fantom
  • WBTC
  • WETH

To lend and borrow.

The project was fair launched in October 2021 and most of the supply is available for yield farming to lenders and borrowers.

It uses the same tokenomics as Ellipsis (a fork of Curve).

Rewards

Yield farming rewards are locked for 3 months but users can take a 50% reward cut in order claim straight away.

Staking

Stakers receive protocol fees.

Locking

Tokenholders can choose to lock their tokens for 3 months and receive protocol fees and the penalties from early claimers.

Token Isssuance

Total supply: 1 000 000 000 tokens

  • 40% Lenders and borrowers over 5 years
  • 20% LPs over 5 years
  • 20% Airdrops and incentives (including Curve gauge bribes and others listed below)
  • 20% Team over 1 year

Docs

Similar projects

Geist token price

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