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Grim Finance is a Smart Yield Optimizer Platform that allows users to stake LP-Tokens issued from AMMs (Automated Market Makers) in Grim Vaults which are automatically harvest and re-stake their rewards as LP-Tokens with compounding where users reap more rewards without the hassle of harvesting and restaking and paying gas in the process. Grim Finance is fork of Beefy Finance, Convex Finance. It employes complex strategies with lower fees with large set of pools on Fantom chain. Grim uses liquid boost vautls. Grim allows Spritswap AMM liquidity providers to earn trading fee with boosted inSprit rewards without locking SPRIT tokens. If you stake Sprit tokens in Grim Finance in GinSPIRIT you will earn Spritswap protocol swap fees and deposit fees from inSprit. There is no deposit fee in Grim Finance. There is 0.1% withdrawal fee at time of withdrawal from the vaults, collected fee will be distributed back to people staking in that specific vault. There is a 4% fee on Farming Rewards profits Split into the 2% to buy back GRIM, 1% to treasury, 0.4 strategist that develope the vault, 0.5% user calling the harvest, 0.1% insurance fund. Harvester bot will run every 30 mins scanning all vaults for profitability and attempt a harvest event when efficient. GRIM EVO is a very special token enabling users to effectively become a shareholder in the Grim Finance platform. Grim Finance is a on stop shop for over dozen platforms or DEX on Fantom. Remember not all pairs on all those exchanges have Grim auto compounding vaults.
Stablecoin Risk Free Investments
Next, I will show you how to find Stablecoin Risk Free Investments in Grim Finance. Go to app.grim.finance. Connect your METAMASK wallet with fantom network. If you do not know how to setup Metamask I will provide a Metamask link. You can sort all Liquidity pools by TVL and APY. I prefer filter with APY to find worth pools. I always look for higher APY and blue chip tokens such as FTM, ETH or any form of stable coins. You never want to jump into a token just because it give very high APY in thousands. Some tokens keep going down in value. You will lose your capital considerably. If you want to hold tokens like CRV, you can invest in Single sided tokens without the impermance loss. Most safe investment is investing in single side stablecoin or even both sided stablecoins such as TUSD, FRAX, MIM, fUSDT, USDC, DAI.
Liquidity Pair Deposit on Grim Finance
Finally, I am going to show how to invest in RING-FTP Liquidity pair. I know of before hand new RING is relatively stable token. FTM is a network token which price will not crash. So I wanted to jump in current 3000% APY. I know APY will drop with more Total Value Locked (TVL). More TVL more fees will be spread out with users that reduce the APY. I expect the APY to remain over few hundred percent for long term but not in the thousands. I am going to invest $270 with equal amount (half) in RING tokens as well as other half in FTM. I had some USDC lying around. So I used Spritswap to swap it into FTM. Click on Add Lquidity link. This will take you directly to the Spritswap Liquidity pair with RING token and FTM token. I deposited 200 RING token at $0.69 per token and 95 FTM token at $1.47. First I need to approve the deposit of each token and pay FTM in gas. Then I need to approve the deposit of RING and FTM token.
Liquidity Pair Withdrawal on Grim Finance
Later if you decided the Grim Liquidity pool is providing low yield and wanted to withdraw funds, click on withdraw button to first withdraw LP tokens out of Grim. Then you need to go to the originating Pool in Spookyswap to decompose LP token into individual RING and USDC tokens.
Grim Finance in December 2021 experienced $30 million hack and losses were caused by a “reentrancy” bug in the smart contracts that run the platform. There is always smart contract bug that can be exploited by hackers on any new platform!
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