DeFi on the Fantom network - innovative and disruptive yield generating opportunities


In this article I'm going to talk about the Fantom network. Fantom or FTM is the native cryptocurrency of the Fantom blockchain, much like ETH is the native coin of the Ethereum network. Fantom currently has a $6.1 billion market cap. The quality of their DeFi protocols and the interaction between them makes this one of the most interesting plays in DeFi right now for those looking to make outsized returns. Let's take a look at all the innovative and disruptive yield generating opportunities.


I'm going to start this by listing some protocols and we will look closer at several of them later in the article:


  • Reaper_Farm = Auto-compounder

  • SpookySwap = farm / AMM (Automated Market Maker)

  • Spirit_Swap = farm / AMM

  • beethoven_x = farm / AMM

  • TarotFinance = Leverage LP farming

  • Screamdotsh = Lending / borrowing

  • Geist Finance = Lending / borrowing

  • Liquid Driver = Sustainable farming driving liquidity

  • Tomb Finance = Wild staking APY on FTM

  • Grim Finance = Auto-compounder

  • Paint_Swap = NFT marketplace

  • Scarecrowdefi = Yield Farm with high APY

Okay, before you use FTM, you need to set up your Metamask with the Fantom Opera Mainnet (if it's not there already).


This guide will walk you through the process: https://docs.fantom.foundation/tutorials/set-up-metamask…


Secondly, you will need to buy some FTM coins.


They can be bought at the following main exchanges: Binance, Kucoin, Gate, Uniswap, Pancakeswap. You can also check the full list of exchanges here: https://coingecko.com/en/coins/fantom#markets…



So where do you start?


Well, it depends on what you want to do. Let me start with some of the 'degen' (crypto slang for degenerate!) things that are possible.


As a side note, there are varying degrees of risk associated with operating on these protocols so I urge you to never risk any money that you aren't prepared to lose.


1. Tomb Finance:


Go to http://tomb.finance and find the TOMB/FTM LP-pair pool in the Cemetery.


TOMB is pegged to the price of the FTM coin and you're paid out in what are know as TSHARE (259% APR = 1417% APY). TSHARE currently trades at around $13,000.


Then you can farm TSHARE:FTM (472% APR = 10,782% APY) to get paid more TSHARE.


After that single side stake the TSHARE you earn from both of those farms at (576% APR = 27,666% APY). Or, just do FTM-TOMB and single-stake all the rewards straight into TSHARE.


If you don't want TSHARE, but prefer to auto-compound and get more FTM and TOMB instead, just go to http://grim.finance and find the FTM-TOMB pool instead.


APY has been over 1000% which is more than in http://tomb.finance (auto compound).


Have I lost you? Please read on...


At this point I may have lost you by explaining this, but it is actually easier than it sounds. I promise. But if you find this hard now, read on and try to understand.


This is where it is possible to earn a lot of money, although the yields are constantly changing as a consequence of varying market conditions.


To illustrate this I'll show you an example.


Let's say you have $1,000 in FTM.


If you are bullish on the price of FTM over the long term you could buy 50% FTM and 50% TOMB.


With an APY in the auto compound pool on Grim, you would earn 1,600% per year.


This means that if you invest $1,000 today theoretically you would have $16,000 in one year.


This is if the FTM token is worth $2.35 in one year and the APY is constant.


If the FTM price is $10, then you would have approx. $73,000.


If the FTM price collapses and is worth 90% less ($0.235), then your position would be worth $1,600.


This is 60% more than what you started with, even if the price of FTM were to collapse 90%.


Grim Finance:


Grim is a fork from Beefy and Convex finance with some changes. A big attraction is the auto compounding feature. It effectively allows you to establish a “set and forget” strategy.


Grim is an auto-compounder for most of the pools you can find on these DeFi protocols: Tomb, Spiritswap, Scream, Spookyswap, Popsicle, Geist, Liquiddriver and Beethoven.


The following are popular pools:


FTM-$TOMB: 1600% APY

GRIM single staking: 41,000% APY

ICE-FTM: 174% APY

GEIST-FTM: 4800% APY


Once again, please remember these returns are subject to change and varying degrees of risk.


Tarot Finance:


Leveraged LP-farming is offered here. For example you can farm USDC/fUSDT with 10x leverage and achieve 118% APY on stablecoins which could prove to be an option for bear market conditions.


Geist Finance:


Here you can single stake GEIST to achieve 159,000% APY! You can also borrow or lend out your stablecoins for 2-4% APY.


SpookySwap:


This the main DEX (decentralised exchange) for FTM which has typically seen the largest volume and TVL (total value locked) of any Dapp on Fantom.


They have LP-pools, a bridge and NFT's.


Some really useful features here include:


-USDC-TUSD: 109% APY (stablecoin-pair without leverage!)

-The bridge opportunity (offers an easy way to go to other networks)

-Easy swap to all kinds of tokens in the FTM ecosystem


Fort Knox Dao:


This hasn't launched yet, but the community seems active and this protocol appears to be carving out a path that looks unique. Stating it wants to be the federal reserve of the metaverse on Fantom. The main focus for the project is NFTs and gaming.


Hector DAO:


Hector DAO aims to become the de-facto reserve currency of the FTM Opera network. 185,000% APY is offered at the moment!


This is a highly speculative space where a lot of money can be made, but just as equally a lot of money can be lost so be wary of pump and dump farm protocols, so you must always be prepared to DYOR (do your own research)


If you're a crazy degen who is prepared to take a risk you can look here to find coins that may pump like crazy. But you may also get completely REKT so be careful: https://apeoclock.com/all-ftm-launches/…


Tokens like MESO, MAXIMUM, Sapphire (and the extra “Layers”), pop up as what should be regarded as pump and dump farms.


Beethoven:


On almost all platforms you can get some outrageous stablecoin returns. On Beethoven for example you can make your own LP pool: https://app.beets.fi/#/trade


Beethoven is classified as a balancer protocol. Instead of having a portfolio manager, this project (and the ones before it) collect fees and redistribute them to liquidity providers. Users gain revenue from the fees collected when traders (mainly arbitrage traders) use the protocol. Pretty cool.


Raven (Scarecrow Finance):


Yield farm with very high APY. I think you just have to go there yourself: https://raven.scarecrow.fi/pools


What about single-side staking of the stablecoin MIM to1373%? Or USDC to 585% APY? If you wrap your Bitcoin (WBTC) you can get 850% APY. The rewards are paid out in the RAVEN token.


Innovative DeFi on Fantom


Overall FTM is becoming one of the wildest and most innovative ecosystems when it comes to DeFi. In some respects FTM's slogan should be: "For degens, built by degens" Because they deliver 100%.


Fantom offers some wild APY, it has a great UX, it is easy to use, it has low gas fees and there are lots of farms, however definitely DYOR and never risk any more money than you are comfortable losing. Happy farming!





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Hi,
I'm Paul

I am on a mission to help people start a journey to financial freedom. The key to long term success is education and understanding the incredible opportunity that exists right now.

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