Following the halt of the GEIST platform on the Fantom chain, there has been a request for a comparable offering to be accessible for the community. Polter fills in this gap with the same smart contract, with the added benefit of extra security and utilizing the SpookySwap DEX for all POLTER liquidity. Spooky announced on their page on X the cooperation with Polter on Fantom:
There’s a new ghost on the #Fantom chain! 🙀👻
Introducing @polterfinance who will be exclusively using Spooky for DEX liquidity! 🧙♀️💰
Read our Medium article below to learn more about the return of decentralized lending and borrowing to $FTMhttps://t.co/ZUKj8I1lzq
— SpookySwap (@SpookySwap) February 2, 2024
Platform fees distribution will follow closely what $GEIST has been offering, with depositors and borrowers receiving Polter incentives for contributing to the platform TVL and utility. Depositors will also earn from 50% of borrowing interests, while stakers get 50% fees generated from lending repayments. The Polter team will also be incentivizing their LP farm on Spooky with additional POLTER rewards for LP stakers.
Lockers will get additional Polter tokens from the penalty amount from early vesting exit (50%). Investors will additionally receive an airdrop by the Polter team linearly over 2 years to be vested for 3 months, so follow on their social links for the latest information on airdrop details and dApp updates.
What is Polter?
Polter is a decentralized non-custodial lending and borrowing platform where depositors earn from interests generated by borrowing. Following the discontinuation of the $GEIST platform on the Fantom chain, there has been a request for a similar offering to be accessible for the community. $POLTER was created to fill this void with the same smart contract. Drawing insights from past platform experiences, flashloans will be deactivated to mitigate risks for platform users.
About Spooky
SpookySwap stands as the leading native decentralized exchange for the Fantom Opera network, now also available on Horizen EON and BitTorrent-Chain. Spooky has introduced new functionalities to ETH-alternative networks, including being the inaugural DEX to implement native limit orders beyond Ethereum and the first DEX to incorporate a bridge directly into the interface.
About Fantom
Fantom is a distributed network based on a DAG, which includes the use of parallel data chains, new methods for increasing scalability and a high-performance virtual machine. Provides secure and efficient execution of smart contracts. Its analogues attract users due to low commissions and high performance indicators. Fantom is an example of a blockchain that has proven to be in demand due to its advantageous differences from Ethereum.
