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GEIST[1] is a decentralised non-custodial liquidity market protocol where users can participate as depositors or borrowers. Depositors provide liquidity to the market to earn a passive income, while borrowers are able to borrow in an over collateralised (perpetually) or under collateralised (one-block liquidity) fashion.

Geist Finance is a lending and borrowing market on Fantom based on one of the largest DeFi protocol AAVE.

AAVE has grown to become one of the most respected and secure protocols in the space but Geist wants to do things differently. The Geist protocol has no governance and no VCs, instead it features a revenue earning token sharing platform fees between token holders and liquidity providers. The protocol will always be permissionless for everyone to use on the same basis.

GEIST Token Utility[2]

As GEIST has no governance or ownership, there is also no protocol treasury. Instead, 50% of the revenue generated through borrowing is distributed directly to users who stake GEIST. Both lenders and borrowers receive GEIST rewards to incentivize protocol use.

GEIST liquidity mining employs a mechanism first introduced by Ellipsis Finance on BSC. Rewards are vested for 3 months, but may be claimed immediately for a 50% penalty. The penalty is then distributed to users who choose to lock GEIST for 3 months. This mechanism ensures steady rewards for those who actively commit to the protocol by locking their tokens.

GEIST stakers receive protocol fees, GEIST lockers receive protocol fees as well as exit penalties from users who exit their vests early.

Reward Vesting[3]

Similar to the Ellipsis protocol, rewards are vested for three months. You can immediately receive your rewards by taking a 50% exit penalty if you do not wish to wait.

During vesting, you can receive protocol fees, the same way you would if you staked GEIST.

Staking & Locking[4]


GEIST stakers receive 50% of protocol revenue. You can exit staking without a penalty whenever you wish.


Just like staking, locking means you receive a share of protocol fees. Because you are committed to the Geist protocol by being locked for three months, you will also receive penalty fees from those exiting their vests early. You cannot exit a lock early.

How does it work?

For borrowers and lenders:

  • GEIST rewards are vested for three (3) months, but can be claimed early at a 50% penalty.
  • Exiting a vest early always incurs a 50% penalty no matter how early or late you choose to exit.
  • The 50% penalty paid is distributed continuously to GEIST lockers.

For lockers:

  • The lock date are grouped by the week. Any lock between Thursday 00:00 UTC to Wednesday 23:59 UTC are grouped in the same week group, and will release at the same time three (3) months later.
  • The locked GEIST is subject to a mandatory three (3) months lock, and cannot be unlocked early.
  • GEIST reward from locking GEIST can be claimed anytime with no penalty. You will keep the APR for locking GEIST after the three (3) months lock until you claim the newly unlocked GEIST.

#WIP 25-04-2022