Geist ETH wallet

What is Geist ETH (GETH)?

gETH is the receipt Geist issued for depositing ETH held on Fantom into its lending market, which followed the Aave v2 design. The receipt is minted at parity with the deposit, and its balance rises in place as interest is paid into that pool by borrowers.

The ETH underneath is worth thinking about carefully, because it is not ether on Ethereum. It is an ERC-20 on Fantom that a bridge issued against ether held elsewhere, and bridged assets on Fantom have had a rough history. So two questions stack up: whether the Fantom-side ETH still holds its backing, and whether the lending pool has free liquidity when you want out. Redeeming gETH gives back the Fantom token, not ether on Ethereum; getting home from there is a second bridge trip.

Everything else is ordinary Fantom mechanics. Transfers and withdrawals are paid for in FTM, and while the deposit secures a borrow the receipt cannot be moved off the address.

A position like this often sits untouched for years before anyone needs to sign for it. Tangem generates the key inside the card's chip and keeps it there, and a second card from the same set, stored somewhere separate, carries the identical key, so access outlives whatever phone you happen to be using. Supported networks in Tangem (1): Fantom. Storage that does not decay suits a claim you mean to come back to much later.