Geist FTM wallet

What is Geist FTM (GFTM)?

gFTM is what a deposit of FTM into the Geist money market left behind in the wallet. Geist ran Aave v2 style lending on Fantom, so the receipt tracks the deposit one for one and its amount increases in place as borrowers pay interest into the FTM pool. The token is a claim on that pool, not the coin itself.

The awkward part is which coin it is made of. gFTM stands for FTM, the same coin the network charges for every transaction, but the receipt cannot pay a fee. Withdrawing, transferring or approving gFTM all need plain FTM sitting in the same address, and an address that pushed everything into the market has nothing left to sign with. Keep a working balance outside the deposit.

Two more limits are easy to miss. While the deposit backs a loan, the receipt is not freely transferable, because the protocol refuses moves that would leave the borrow undercollateralised. And exiting depends on the pool holding free liquidity at the moment you ask; heavy borrowing can delay a withdrawal regardless of what your balance says.

Since the gas coin and the receipt live at the same address, Tangem holds both and signs either by tapping the card against the phone, with no cable and nothing to charge on the day you decide to unwind the position. Supported networks in Tangem (1): Fantom. Convenient for a holding whose every move depends on a second balance being right there.