Join 100,590 users already on read.cash

The APY at GEYSER is hotter than lava

2 18
Avatar for PVMihalache
Written by   1120
1 year ago

Geyser, the newest DeFi Hype, reached $100,000,000 in Total Value Locked. The configurable and 100% decentralized platform took yield farming by storm and aims to provide an alternative source of income to both early liquidity providers and crypto holders. Are you ready for some minutes of hot stuff?

Geyser (GYSR) is blowing scolding hot APY and as an extra, it was listed on Hotbit on the 5th of November. The trading started at 9 AM with trading pairs with Tether and Bitcoin.

The $100 million TVL and current success was not reached over night and without effort. It was the unified effort of the development team, the Geyser community and early advisors. Let's travel back in time to see how the project reached the current level of success, and see how GYSR works.

The project started with an unique vision, to provide an alternative for long term investments. The main target was to make yield farming easy and fair, with benefits for creators and investors. The Geyser platform will reward users for HODL and participation, using the GYSR token as an universal reward. Users will have the option to create a configurable yield farm, called Geyser, supported 100% with on-chain tools for yield farming. The Geyser is the name given to the custom yield farm that can offer token rewards and/or interest for depositing liquidity. This reward will be earned immediately after the deposit and will improve with time, therefore making long term investments more profitable.  The Geyser Factory will allow users to configure and create their own Geysers without effort, using the Geyser platform. The new  Geyser will be 100% owned, configured and managed by Geyser user.  $GYSR can be added in any Geyser to multiply the reward and maximize the APY value.

How to start earning GYSR? How to be part of the GYSR distribution? Very easy... just open the web app and gain access to rewards. GYSR was created with transparency and a community-first mentality, therefore this mentality will be reflected the way $GYSR will be distributed into the world.

 The distribution will be done 100% through Geysers and absolutely nothing was shared through ICO, airdrops or pre-launch offers. The total token supply will be distributed to the community through Geysers, following a clear system: 1% to the community through five initial Geysers, 88% to the community through the $GYSR Geyser, 10% to the Geyser Team and 1% to early advisors.

The five initial Geysers distributed 0.20% of the $GYSR supply during the boiling period. The $WETH, $DAI, $USDC, $WBTC and $UNI Geysers boiling period ended on the 4th of November, and any accumulated multiplier was transferred to the follow-up Geyser.

The Community Pool will distribute $GYSR following a clear schedule. The first part takes 90 days after the launch. The next 1/3 of the community pool will be released over the first year after launch and the last will be released over the four years after launch. By using this strategy, will make enough $GYSR available for projects but will still maintain the users long term interest for the project and avoid a pump and dump effect after launch. The team minted an unique token called $GYSR-team that has a total supply of 1, which will be staked on the GYSR pool. The community support will also be rewarded with a token called $GYSR-adv that will be minted and given to individuals that have helped the $GYSR project during its development and as it grows. The $GYSR-adv token will give early advisors unique access to a Geyser with 1% of the total $GYSR supply funded in it, vesting over 1 year.

I was dazzled by how GYSR can be so complex but easy to use in the same time. The innovation and credibility GYSR can offer to the DeFi ecosystem is welcome and the efficient distribution strategy and a continuous source of income can be the missing link for many crypto enthusiasts. I joined the project during the boiling period and I choose the DAI pool for my investment and I quickly steered the wheel and left classic yield farming behind.

Time traveling again, going back to 1st of November, during the boiling period and the start of the distribution process. It was then when I started using GYSR.

Because I didn't had any UNI or USDC, and the concept behind WrappedBTC and WrappedETH is above my pay-rate, I decided to stake the easiest option... DAI.. The pools were during the "Boiling' period, and GYSR tokens were rewarded depending on the amount of time and the size of the deposit. From the 62 DAI I had on Binance, I paid 3 as transfer fee. I used Metamask to access the GYSR app and paid $0.34 ETH to trust the site and grant permission to GYSR to take my DAI and stake them into the Geyser. To deposit and stake I paid $3.40 ETH.

The reward is again complicated but simple, being made from the value of the deposit and the staking time. "Your share seconds" means the number of seconds a user accrued multiplied with the amount staked into the pool and is the amount earned in the Geyser. "Your reward share" represents the percentage of the unlocked reward the user is entitled to, based on share seconds while the Global Share Seconds are the number of seconds for each stake in the Geyser globally. The total amount of DAI deposited into the Geyser also influenced the GYSR reward.

The whole concept, the idea of adding another source of residual income to my portfolio and  the huge potential of growth convinced me to tap into into Geyser and hopefully get a bucket of $GYSR.

Now, fast forward to modern days, few hours after the "boiling" period ended and the $GYSR distribution started. The Geyser innovating idea is still from the future, and brings something new to the 2020 folks. 

I didn't tapped into the DAI Geyser from the begining of the boiling period, but I still managed to get about 4 full days. The interface changed with the official launch and now is easier to understand. On the left is my dashboard, with 59.4 staked DAI, and 1.39 multiplier which I accumulated during the boiling period. This gives me a head-start from whoever joined after the boiling period. The multiplier will get bigger and bigger with every share second I accumulate. On the right is the global information, about the total DAI staked in the pool and how much $GYSR was already distributed.

With the accelerate pace of deposits, the TVL will reach new heights every hour, and once the FOMO will start to kick in, more and more enthusiasts will join the project. The floor is lava ... but Geyser is hotter!

 

Links and referrals

Geyser (GYSR) and the yield farming of the future!

Adding DAI into a boiling GEYSER for a bucket of $GYSR

Coinbase Earn - $43 BAND

Coinbase Earn - $59 Compound (COMP)

Coinbase Earn - $52 Orchid (OXT)

Coinbase Earn - $50 worth of EOS

Amazon author page: PV Mihalache

Quality Faucets: Free-Litecoin.com (LITECOIN)

Stakecube (20 daily faucets)

Tier 4 referral system: Horizen (ZEN) & ZCash from PipeFlare GlobalHive

FreeCryptos GangDASH, TRX, ETH, ADABNBLINKNEO, BTC LTC

Coinpot Gang: DASHBCHDOGELTCBTC, BTC2, BTC3 & BTC4

I earn crypto for reading and writing on Publish0x and ReadCash, watching videos on Lbry.tv and surfing online on Brave Browser and Presearch. I use Swapzone for the lowest fee swaps

2
$ 8.87
$ 8.87 from @TheRandomRewarder
Sponsors of PVMihalache
empty
empty
empty
Avatar for PVMihalache
Written by   1120
1 year ago
Enjoyed this article?  Earn Bitcoin Cash by sharing it! Explain
...and you will also help the author collect more tips.

Comments

This is a nice and informative acticle.Please keep it up.

$ 0.00
1 year ago

Another interesting post Mister. Good job and keep up the good work.

$ 0.00
1 year ago