What is Tarot Finance? (Fantom Network)

Hi HODLers and Fantom Network users,

As many of you know I have joined the Fantom Network a while back and I have been playing around the different options offered to me. They seem to be banning US IPs has some other Fantom projects do; probably to protect themselves from future litigations :D.

For the past month, I have been using Tarot.to, this is yield farming project where you can do a lot of things that I will detail what https://www.tarot.to/ is and in a following post, I will detail the strategy I have implemented to generate some very attractive yield while limiting as much as possible the risk.

Tarot in the overall FTM ecosystem

Tarot is the #15 protocol by TVL on the Fantom Network. Despite the current drop it still holds a >$170mn TVL.

xTarot Price Chart

Price has been moving up during the past 24 hours. I have witnessed that most DeFit Fantom coins have been shooting up so there might be some capital being redeployed on this chain.

Vaults

You deposit stablecoins, FTM, BTC or ETH... and get a return as the protocol tries to optimise the different vaults.

This would be kind of similar to a Yearn type of vault and assets.

Leveraged Lending Pools

Where Tarot.to is different from other protocols is that it has focused on leverage lending pools. These are pools where you can pool other LPs mostly fron SpookySwap or SpiritSwap and use these or other coins as collateral to leverage and therefore increase your yield.

This increase in leverage can make you earn more APY per capital invested BUT can also make you lose more in case of higher volatility or the overall value of the LP going down. This is for sophisticated investors and this is not financial advice.

If you know how to use these to your advantage you can get some higher APR with a low capital risk.

xTarot

xTarot is the staked Tarot which allows you to earn some platform's fees and rewards. This is quite standard and currently these rewards amount to c.42% APR. Not bad right?

You can also stake these xTarot to earn their own tFTM.

Thank you for reading and as usual... Stay safe out there!

Latest Analysis

Posted Using LeoFinance ^Beta