Thread by @Route2FI

Let's talk about $FTM

$FTM is a cryptocurrency that currently has a 6.1B mcap

The quality of their DeFi protocols and the interaction between them makes this one of the most interesting plays in DeFi right now for true degens

Let's take a look at all the opportunities

/THREAD

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

@Reaper_Farm = Auto-compounder

@SpookySwap = farm / AMM

@Spirit_Swap = farm / AMM

@beethoven_x = farm / AMM

@TarotFinance = leverage LP farming

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@Screamdotsh = lending / borrowing

@GeistFinance = lending / borrowing

@LiquidDriver = Sustainable farming driving liquidity

@Tombfinance = wild staking APY on $FTM

@financegrim = Auto-compounder

@paint_swap = NFT marketplace

@scarecrowdefi = Yieldfarm with sick APY

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

Use this guide: docs.fantom.foundation/tutorials/set-…

Secondly, you need $FTM tokens.

Buy them at...

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Binance, Kucoin, Gate, Uniswap, Pancakeswap, or other places, check here: coingecko.com/en/coins/fanto…

So where do you start?

Well, it depends on what you want to do.

Let me start with some of the degen things I've done lately.

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1. Tomb Finance:

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

$TOMB is pegged to the price of FTM, so farming FTM:TOMB should net no IL, and you're paid out in $TSHARE (259% APR = 1417% APY).

$TSHARE currently trades at $11,270.

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Then 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

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

APY is 1600% which is more than in tomb.finance (auto compound).

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I'm a little bit afraid that I lost some readers by explaining this, it is easier than it sounds. I promise.

But if you find this hard now, read on and try to understand. This is where the real degens earn a lot of money now.

To illustrate with an example. Let's say you...

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have $10,000 in $FTM.

If you are bullish on $FTM for the long run you could buy 50% $FTM and 50% $TOMB.

With an APY in the auto compound pool on Grim, you would earn 1600% per year.

This means that if you invest $10,000 today you would have $160,000 in one year.

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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. $730,000.

If the $FTM price collapses and is worth 90% less ($0,235), then your position is worth $16,000.

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This is 60% more than what you started with even if $FTM has collapsed 90%.

When I did these calculations it blew my mind. As I wrote in a tweet yesterday, this is maybe the craziest thing I've seen in normal DeFi.

11/

2.Grim Finance:

Grim is a fork from Beefy and Convex finance with some changes.

A big attraction is the auto compounding feature.

Allowing you to kind of “set and forget”.

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Grim is an auto-compounder for most of the pools you can find on these DeFi protocols:

Tomb, Spiritswap, Scream, Spookyswap, Popsicle, Geist, Liquiddriver & Beethoven.

I like these pools:

$FTM-$TOMB --> 1600% APY

$GRIM single staking: 41,000% APY

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$ICE-$FTM --> 174% APY

$GEIST-$FTM --> 4800% APY

3. Tarot Finance

Leverage LP-farming.

Eg. USDC/fUSDT with 10x leverage to get a 118% APY on stablecoins.

Reminds me of the $MIM/$UST-strategy on Abracadabra.

Could be an option for bear markets.

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4.Geist Finance

Here you can single stake $GEIST to 159,000% APY!

You can also borrow or lend out your stablecoins to 2-4% APY.

5.SpookySwap

SpookySwap is the main DEX for FTM which has typically seen the largest volume and TVL of any dapp on Fantom.

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They have LP-pools, bridge, NFT's ++.

What I liked here:

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

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

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

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6.DeFi 2.0 (forks of $OHM)

Spartacus and EXOD: Both Spartacus and Exodia are OHM forks with a similar stated goal of providing reserve currency via treasuries.

Right now $SPA is trading at 1.5x compared to its backing price.

Probably nothing...

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Specific future goals may vary, but the launch premise was close to that which is commonly noted for OHM forks.

100,000% APY++

Fantohm:

Fantohm (FHM) has a slightly different approach, where the treasury gained is likely to be used in DAO system where...

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the community can post ideas, have them voted on, and use the treasury to make money in any number of ways that you can imagine on the blockchain.

The team behind it seems to be going forward with the idea of being community-driven in what develops.

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Speculation can be made that they may be trying to launch on another chain (Due to the fantom wallet connection icon on the dashboard).

Currently, it provides the highest average APY of the 3 OHM forks noted.

1,300,000% APY right now!

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Fort Knox Dao:

No launch yet, but the community seems active and this protocol seems to be carving out a path that looks unique.

Stating it wants to be the federal reserve of the metaverse on Fantom.

Main focus for the project is NFTs, gaming, etc.

21/

Hector DAO (4 , 4):

Hector DAO aims to become the de-facto reserve currency of the FTM Opera network.

Competes with Spartacus on being the biggest one.

500,000% APY at the moment.

7.Pump and dump farm protocols

If you're a crazy degen you can look here to...

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find coins that may pump like hell.

But you may also get completely REKT so be careful:

apeoclock.com/all-ftm-launch…

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

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8.Beethoven

On almost all platforms you can get some outrageous stablecoin returns.

On Beethoven you can make your own LP pool: app.beets.fi/#/trade -

Beethoven is classified as a balancer protocol. Instead of having a portfolio manager, this project...

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(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.

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I haven't personally tried this, but maybe some of my readers would like to expand on their experiences in the comment section?

9.Raven (Scarecrow Finance)

Yieldfarm with sick APY. I think you just have to go there yourself: raven.scarecrow.fi/pools

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Haven't personally tried this, but got heads up from several Fantom degens on this protocol.

What about single-side staking of the stablecoin $MIM to 1373%?

Or $USDC to 585% APY?

If you wrap your Bitcoin ($WBTC) you can get 850% APY.

The rewards are paid out in...

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the $RAVEN token.

This thread is starting to become long now, and I think it's time to conclude that $FTM is one of the wildest ecosystems I've ever tried when it comes to DeFi.

$FTM's slogan should be:

"For degens, build by degens"

Because they deliver 100%.

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Fantom has wild APY, great UX, easy to use, low gas, lots of farms ++

Also wanted to thank @JacobH68385985 and 0xDrog for great $FTM conversations and for tipping me about all the possibilities on Fantom.

Also a huge thanks to all the true Fantom enthusiasts out there!

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If you liked this thread I would love it if you could help me share it by retweeting the first tweet (link below) so that more people in DeFi discover $FTM.

👇

https://twitter.com/Route2FI/status/1463814714304212992?s=20

Should I get a 👻 in my name now maybe?

@0xDrog *