What is Grim Finance? Complete set of Grim Finance project, GRIM token and related tokens

• Grim Finance Overview
• What is Grim Finance?
• Main features of Grim Finance
• The advantages of Grim Finance
• Grim Finance Development Team
• Grim Finance Development Plan
• Grim Finance project advisors, investors and partners
• Overview of the tokens of the Grim Finance project
• Grim Finance tokens
• Where can the Grim Finance project's tokens be bought and sold?
• summary

Grim Finance Overview

What is Grim Finance?

Grim Finance is a smart profit optimization platform that allows users to stake LP-Tokens issued from AMM (automatic market maker) in Grim Vaults, collect and stake rewards automatically their LP-Token to create a compounding effect, making it easier for users to get more rewards.

The project has also been audited by famous organizations such as Certik (V2), Solidity Finance and Solidity Finance (V2). However, at the end of 2021, Grim Finance was hacked and lost $ 30 million by a vulnerability on this platform. This incident caused Solidity Finance to officially apologize for omitting this issue during the audit 4 months ago.

Investing in cryptocurrencies and DeFi is always risky, moreover, Grim Finance is a project in beta. This article is for reference only about the content and characteristics of the project, not investment advice. TraderH4 urges readers to research carefully before making any investment decisions.

Main features of Grim Finance

Grim Vaults (V2)

All Grim Vaults have an automatic aggregation (harvesting) feature that converts bonus tokens during mining into additional liquidity (LP) tokens, on behalf of the user. These LPs are automatically reinvested in the pool to create a compound interest effect.

• Combine reward tokens issued by AMM into staked liquidity tokens by selling rewards and pooling them into LP tokens.
• Aggregations are performed cyclically several times a day, depending on the vault's balance.
• Tokens are issued to users based on each deposit in the vault, representing the user's stake in the vault to withdraw profits.

Staking mining pool

• The aggregate return optimizer for staking a single token is GRIM (vault for shareholders).
• Market buying pressure at 2% (50% of the total platform harvest fee) will be fed to this vault by purchasing GRIM and automatically distributing the proceeds to this pool.
• XGRIM will be issued to users who stake in the vault, which represents their stake in the pool. XGRIM will be the governance token in the DAO.

Fee mechanism

Grim Finance vault fee mechanism

There is 4% fee in the total profit from mining rewards which will be split as follows:

• 2% to buy GRIM on the market, redistributed to those who staked GRIM through the rewards pool (currently allocated to the insurance fund in GRIM V2, while the development team integrates the new GRIM pool).
• 1% is allocated to the treasury.
• 0.4% is allocated to the strategist who developed the vault.
• 0.5% is allocated to the user calling the harvest function.
• 0.1% is allocated to the insurance fund (introduced in GRIM V2).

Withdrawal fee mechanism

• There is a 0.1% fee when withdrawing from the vault, the fees collected will be redistributed to those who have staked in that vault.
• This will also prevent users from staking and unstaking before the harvest function is called.

Recharge fee mechanism

• There is 0% fee for all deposits in Grim Finance vault. Unlimited permanent free deposit for all manipulations.
• However, there may be a third party deposit fee charged by the pool provider, this information will be mentioned in the detailed description of the tank.

Grim Sentinel (V2)

Sentinel contracts (aka killswitch) were introduced in GRIM V2 and were created to halt all vaults if any potential threats are detected. The Grim Sentinel is tasked with maintaining a list of all the platform's active strategies to enhance security.

TVL Locked Total Value Monitor (V2)

A TVL (or Total Value Locked) monitoring tool was introduced in GRIM V2 to alert the development team directly to any unusual movement of TVL in GRIM vaults (e.g. Changes. balance greater than 33%) directly via SMS and email.

The advantages of Grim Finance

Grim Finance is a fork of Beefy Finance and Convex Finance, which is a combination of different complex strategies and low transaction fees, which improves user experience and expands selection in mining pools on the entire Fantom ecosystem. 

In addition, Grim users have access to Liquid Boost Vaults, designed to increase liquidity for a designated pool in the AMM.

In addition, Grim Finance allows liquidity providers in SpiritSwap AMM to earn transaction fees and receive rewards in the form of inSPIRIT tokens without the need for SPIRIT keys. Liquidity providers can get enhanced rewards in the form of SPIRIT tokens and the ability to mine liquidity with little effort.

Finally, if you want to stake SPIRIT to receive GinSPIRIT, Grim Finance allows users who have staked GinSPIRIT to receive swap fees on the SpiritSwap protocol and deposit fees from inSPIRIT.

Grim Finance Development Team

No information.

Grim Finance Development Plan

No information.

Grim Finance project advisors, investors and partners

No information.

Overview of the tokens of the Grim Finance project

Grim Finance tokens

There are 04 main types of tokens that hold different functions on Grim Finance, including:

GRIM

GRIM allows holders to become shareholders in the Grim Finance platform and receive a distribution equal to 50% of Grim Finance's platform harvest fee.

GRIM was replaced by GRIM EVO in version V2.

GRIM EVO

GRIM EVO is a very special token that allows the holder to become a shareholder in the Grim Finance platform and receive a distribution equal to 50% of the Grim Finance platform harvest fee.

GRIM EVO is designed to reduce inflation, offering a (currently) 1% passive burn rate fee, which is used to generate the GRIM-FTM pair. This allows users to passively derive value from holding tokens.

GRIM EVO is V2 version of GRIM and users can mint GRIM EVO by using GRIM token (token of V1 protocol) at a ratio of 10:1 through using EVO minter on Grim Finance homepage.

xEVO is the protocol's voting token, which can be obtained from staking in GrimEVO's Grim Single Stake Pool.

REAPER

REAPER is Grim Finance's farming token and will be linked to GameFi projects, its index funds and mining pools. That means the project will use the REAPER token in the future, which includes attracting partnerships through token listings in partners' farms and airdrops.

ginSPIRIT

GinSPIRIT encoded from inSPIRIT

• If a user deposits SPIRIT into Grim Finance, that SPIRIT will be permanently locked on the platform as inSPIRIT.
• An encrypted version of inSPIRIT is GinSPIRIT, which is returned to the user at a 1:1 ratio (will not be the same price as SPIRIT).

GinSPIRIT staking

• GinSPIRIT can be staked on the platform to receive revenue from the SpiritSwap protocol (swap fees) and deposit fees, which will be aggregated automatically into GinSPIRIT.
• Staking GinSPIRIT into a single stake vault on Grim Finance will make users eligible for airdrops of selected partners.

GinSPIRIT's liquidity pools

• Instead of staking into GinSPIRIT, users can also choose to contribute to liquidity pools on SpiritSwap that have GinSPIRIT-SPIRIT LP pairs.
• Users can stake their LP tokens in the LP SPIRIT-GinSPIRIT vault and enjoy compounding on their liquidity, while Grim Finance will automatically convert rewards received from SpiritSwap into more SPIRIT-GinSPIRIT LPs.

Where can the Grim Finance project's tokens be bought and sold?

Currently, Grim Finance tokens can be traded on two platforms, SpiritSwap and SpookySwap of the Fantom ecosystem.

summary

Despite having a crash at the end of 2021, Grim Finance is still a project that receives a lot of community attention from its token financing mechanisms. TraderH4 hopes that through this article, readers will have more useful information about this automated productivity mining platform.

To get the fastest information about the Grim Finance project, readers can visit the project's official communication channels:

Website | Project Information | Twitter | Discord | GitHub

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