A lot is happening on centralized crypto exchanges right now. That’s why Phantom for decentralized finance (DeFi) stands out as one of the best DeFi networks. Analyst Camille Lemmens from the Altcoin Buzz team points out three Phantom-based altcoin projects. Here are the details…
Phantom-based popular cryptocurrency: Geist Finans
Geist Finance is a platform that offers lending and borrowing markets. It is only active in the Phantom chain. According to DeFiLlama, it is the lending protocol with the highest locked total value (TVL) in Fantom. Currently, this TVL is worth $41.59 million. That is twice the TVL of Tarot, the second largest Phantom-based lending protocol. Geist is a fork of the Aave protocol. In October 2021, Geist had $3.75 billion in TVL. 50 percent of platform fees go to GEIST token holders.
Annual rates of return range from 0.92 percent on wBTC to 6.39 percent on the Curve CRV token. On the other hand, staking GEIST gives you an APR of 3.66 percent. If you lock your GEIST, you get a reward of 10.09 percent APR. These refer to quarterly lock-in periods. However, at the end of the lockdown period, if you do not withdraw, you will continue to receive this 10.09 percent. Geist offers lending and borrowing on nine tokens: Phantom (FTM), USDT (fUSDT), DAI, USDC, Ethereum (ETH), Chainlink (LINK), Wrapped Bitcoin (WBTC), Curve DAO Token (CRV), MIME.
Second coin on the list: Beefy Finance
Beefy Finance is a multi-chain yield aggregator. Currently active on at least 19 chains. According to DeFiLlama, his TVL is $36.30 million. But Beeft is in four other chains, with a total TVL of $387 million across all chains. This amount is locked in 716 safes. Beefy offers a variety of investment strategies. It combines the rewards. For this, it uses various liquidity pools, AMMs and other return collection opportunities. A new tool has been the Beefy yield module, and as a result, it gives a deeper insight into your investments.
Phantom offers a variety of safes. An example is the Ankr Phantom Liquid Ocean case. This safe is located in a Beethoven X farm. Thus, now Beethoven X earns the management token. The platform changes this to get more LP tokens, adding the token to the vault to earn more. The APY is 26.45 percent and the vault APR is 23.28 percent. All cashiers share transaction costs. As an example, the TVL of this safe is $111,000. The picture below shows this safe.
Spartacus also draws attention
Spartacus is the fork of Olympus on Phantom and is a decentralized reserve currency protocol. A reserve currency protocol is something we usually see at a central bank. This reduces the exchange rate risk. They often use this for international transactions. Thus, in crypto, a reserve currency means that a basket of assets backs the platform’s token. In this case, the SPA token appears as the token of the platform.
The token basket contains, for example, DAI or SPA-DAI LP tokens. The protocol binds them to the Treasury. Thus, you can now mint the SPA token, which has intrinsic value. So, it works like a central bank. According to DeFiLlama, the TVL of the protocol is $24.39 million and is also active only on the Phantom chain. Another notable point is that the Spartacus team is anonymous.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.