Geist Finance review

Geist Finance launched on October 5, 2021, on the Fantom blockchain as a decentralized lending platform with a unique approach inspired by Aave. In a matter of days, it attracted considerable interest, accumulating over $11.1 billion in locked assets. Unlike many DeFi projects, Geist decided to focus solely on user rewards rather than governance features or venture capital funding. This approach allowed it to offer 50% of its revenue directly to holders of its native token, GEIST. Through lending, borrowing, and liquidity mining, users could earn GEIST tokens as rewards, making the platform attractive to the Fantom community. However, in 2023, a security incident involving a Multichain hack led to the protocol’s permanent shutdown, as it became challenging to ensure accurate pricing and secure operations.