🎂 @GeistFinance is turning 1 today!🎂 The money market of choice on #FTM 👻is celebrating this new milestone with you anons, supporting us from day 1! A quick 🧵and a chance to win some💵💵 1/3

Just to be clear this is in no way an attempt to blame Chainlink oracles which worked as they should. There are no oracles for the Multichain assets themselves because there was the expectation to exchange them 1:1. Nobody is to blame except @MultichainOrg here.

2/2 Those assets are currently trading at around 22% of their real value. As a result, re-enabling borrowing is impossible as it could result in bad debt for lenders of unaffected assets like MIM or FTM.

1/2 After confirmation from Multichain that the funds will not be recovered, we are announcing that Geist will not reopen. Because Chainlink oracles are tracking the value of real USDC, USDT, WBTC or ETH, they are not aware of the real value of Multichain assets.

Geist has been unpaused, the protocol is operating in withdraw and repay only mode until further notice.

Transactions to disable borrowing will clear the timelock around 3.20PM UTC today. The protocol will be unpaused shortly after that. The protocol will remain on repay and withdraw only after that until the Multichain situation is clarified.

We are currently planning to unpause the protocol and re-open in repay and withdraw only mode in 48 hours. As we have no visibility on the true value of Multichain assets being used on the protocol, this is what we think is the best way forward to minimize losses for our users.

The protocol has been paused by the Emergency multisig. We are awaiting updates from the foundation about the bridge situation.

👀 Let's see the Ranked Fantom Projects by monthly Revenue The revenue of a blockchain project shows the size of its user base, the level of engagement of its users, and more Led by: @Equalizer0x $FTM #FTM #Revenue

📈 In the past week, the general market has bullish strongly In the @FantomFDN ecosystem, projects continue to show their potential 👀 Let's see TOP GAINERS IN #FANTOM ECOSYSTEM IN THE LAST 7D #FTM $FTM #Gainer

⛏️ Let's explore the Top Fantom Projects based on the P/F ratio 📚 With: P/F = Market Cap / Annualized Fees ✅ This ratio can indicate the relationship between the value of the project (market cap) and the amount of fees users have to pay annually The lower the ratio, the

Most Traded Fantom Tokens Last 24 Hours 🥇 $HEC @Hector_Network 🥈 $MCRT @MagicCraftGame 🥉 $BOO @spookyswap $TAROT @tarotfinance $WIGO @wigoswap $TREEB @retreeb_io $LQDR @LiquidDriver $TOMB @tombfinance $BEETS @beethoven_x $GEIST @GeistFinance #Fantom #FTM $FTM

Some quick Fantom updates incase you missed it; 1/7 Gas monetization (devs earn 15% gas fees spent on their apps): 16 active projects, 20k FTM earned so far -

🚀 Check out the top Fantom projects in the Gas Monetization Program, ranked by the total number of transactions! Top 3 include: 🥇 @StargateFinance: 807,800 🥈 @LayerZero_Labs: 618,630 🥉 @SpookySwap: 419,280 👉 Fantom is fostering innovation and scalability ⛏️ Discover

Top Price Gainers on Fantom Last 7 Days 🥇 $SPIRIT @Spirit_Swap 🥈 $BASED @BasedFinance_io 🥉 $QI @QiDaoProtocol $BEETS @beethoven_x $TOMB @tombfinance $IB @ibdotxyz $YFI @iearnfinance $BRUSH @paint_swap $GEIST @GeistFinance $TREEB @retreeb_io #Fantom #FTM $FTM

🔥 Check out the Top Projects on Fantom with the largest number of holders! 🚀 Top 3 include: 🥇 @SpookySwap: 81,802 🥈 @beefyfinance: 25,248 🥉 @LiquidDriver: 21,232 Investors and enthusiasts alike are paying attention to these projects, driven by the potential for growth

Most Undervalued Projects on Fantom Projects with low MC/TVL ratio are considered undervalued, & here are the top 10 on #Fantom. 👇 @Equalizer0x @GeistFinance @beethoven_x @SpookySwap @combfinancial @LiquidDriver @TarotFinance @mummyftm @WigoSwap @EverRise

Exciting news 🎉 The proposal to reduce the validator staking requirement on #Fantom has PASSED! Moving forward, nodes will require only 50,000 FTM to participate in network consensus, broadening the accessibility of running a validator.

Most Used Fantom DApps Last 7 Days. 🔥 🥇 @StargateFinance 🥈 @SpookySwap 🥉 @WigoSwap @beethoven_x @Equalizer0x @mummyftm @GeistFinance @Spirit_Swap @paint_swap @EverRise #Fantom #EverRise #FTM $FTM

🔝 Top Fantom Projects by Monthly Total Value of Assets in Dapp's Smart Contracts 🔝 Top 3 include: 🥇 @GeistFinance: $33.08M 🥈 @beethoven_x: $16.83M 🥉 @Hector_Network: $4.95M 🚀 These projects demonstrate the growing ecosystem and investor confidence on Fantom #Fantom

📢 Recently, @FantomFDN announced the release of the Gas Monetization program 👉 This program allows Fantom to reward developers for the gas usage of their dApps, which is linked to the level of traffic they bring to the platform ⛏️ Let's explore details from the program below