This is a project that attracted a lot of attention when it received investment from Multicoin Capital, focusing on creating a staking solution for DAOs. So what is Geode Finance and what's special? Let's learn detailed information through this article.
What is Geode Finance?
Geode Finance is a platform that provides liquid staking solutions for DAO organizations . They focus on providing secure, decentralized, and permissionless staking solutions for the Ethereum and Avalanche blockchain. Geode provides services such as contract-owned staking (COLS) for both public and private liquidity pools, creating staking derivatives such as yyAVAX.
Geode Finance's main customers are not ordinary users but organized entities and DAOs. Geode emphasizes on enhancing investment performance, generating revenue, and improving investment efficiency per capital in the DeFi sector .
eode Finance's main products and features
White-label liquid staking solution
Geode offers institutions and DAOs the ability to deploy their own liquid staking solutions using Geode Finance's infrastructure. Users stake native tokens like ETH or AVAX and receive staking tokens in return, automatically earning a profit on their investment.
Different from existing liquid staking solutions on the market, Geode allows your DAO or protocol to decide how to set up and use the liquid solution. This includes how to allocate fees, choose validators, and how to integrate new staking tokens into DeFi.
That is, users earn profits and your protocol collects fees from the profits they generate - all while you retain complete control over your liquid staking solution.
Yield Yak used Geode Finance's technology to create a staking token product on AVAX, yyAVAX. This is a derivative product created to reward users who stake AVAX on Yield Yak. Users can stake AVAX on Yield Yak and receive yyAVAX rewards, the product is live and 100,000 AVAX has been deposited into the pool to ensure that the system works. Gradually the cap will increase and eventually there will be no cap left.
Contract-Owned Liquid Staking - COLS (Contract-Owned Liquid Staking)
This is the staking system that Geode offers, where Geode's smart contracts manage the entire process from generating withdrawal keys, creating staking derivatives, and managing withdrawal pools. COLS includes both public pools (for all users) and private pools (for organizations that need greater control over their assets).
Dynamic Withdrawal Pool (DWP)
DWPs are stable-swap trading pools with continuously variable values, providing withdrawal liquidity for liquid staking.
DWP is designed to balance supply and demand of the staking pool, while working closely with node operators to maximize staking profits. DWP uses a token burn and buyback mechanism to manage token supply, as funds are moved between validators and DWP to meet withdrawal demand. This process helps “balance” the price, ensuring the token price returns to its original pegged exchange rate.
In addition, DWP also encourages staking derivative tokens in case of price discrepancies. When a price difference occurs, node operators perform buybacks and burns, thereby re-anchoring the price into the pool. Unlike other types of staking that only create benefits for those who profit from trading on price deviations, this opportunity is captured by the staking pool and transfers additional profits to the token holders of that pool.
Telescope Oracle
This is an Oracle system developed by Geode, which is responsible for monitoring and determining the value of staking assets, ensuring transparency and accuracy in asset valuation.
Planets
Planets is the name for public staking pools created by Geode's partners. Users can choose any Planet they want to stake AVAX, a Planet can represent a protocol, exchange, Which crypto wallet has become a partner of Geode Finance?
Project team and investors in Geode Finance
Project team
Geode Finance's construction team are all people with extensive experience in the blockchain industry and LSD solutions.
Ice polar - Founder : An expert in the field of financial optimization, with experience with Blockchain technology since 2017 and in-depth research on liquid staking derivatives since 2020.
Oranges - Co-founder: Previous experience in the financial services and media industries, working with major sports brands such as NBA, WWE and Eurosport.
Crash Bandicoot - Senior Developer: Has a bachelor's degree in Computer Science and Engineering, developing smart contracts since 2020.
Cypher - Senior Python Developer: Focuses on using technology and finance to solve complex problems, deploy secure systems, assess risks and stay up to date with the latest technology security trends.
Sonix - Head Of Research: Has a double degree in Computer Science and Economics, worked with multiple Blockchain protocols since 2018 and currently contributes to research at Cambridge University Center.
Investors
Geode Finance has invested 3 million USD in a seed round led by Multicoin Capital. The investment also includes participation from GSR, blockchain investment fund C² Ventures, Yield Yak protocol, blockchain infrastructure provider Eden Network.
Information about Geode Finance's Token
Currently, the project has not updated any information about Geode Finance's token.
Learn more about the Geode Finance project
Website: https://www.geode.fi/
Twitter: https://twitter.com/geode_finance
Medium: https://medium.com/geode-finance
summary
Geode Finance is a project focused on improving the staking process on PoS blockchains, providing flexibility and optimization in the DeFi ecosystem. By expanding to many different chains, Geode aims to create a diverse and effective staking solution for the blockchain market, giving DAOs more options in creating staking pools easier and faster than before. . Please follow the next information about Geode Finance in the following articles on Me
