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After the cult project SpiritSwap but CHK introduced you to ATH x22 times if purchased from the price of 0.1 and x27 times if buying from 0.08 in the adjustment. CHK will continue to present to you a new project, built on top Fantom Chain. That is the project Ester.Finance
Let’s read this article to get more information about the project and make the right investment decision!
You can review the SpiritSwap project introduction here
1. What is Ester.Finance?
Ester.Finance is a decentralized financial return optimization project on Fantom Opera Blockchain. Ester can help you earn more cryptocurrencies with the same cryptocurrency you own. Through a set of smart contracts and several investment strategies, Ester.Finance automates reward maximization of users from different liquidity groups (LP), automated market creation (AMM) projects, and other profitable farming opportunities within the DeFi ecosystem. This gives a huge advantage over trying to do this manually on your own.
2. How the Ester works
In order to clearly understand how Ester works, I will give an example for you to easily imagine. Suppose you are a DEX like liquidity provider SpiritSwap. You have several LP tokens like SPIRIT-FTM, ETH-FTM,… SpiritSwap will reward liquidity providers if they do stake LP token farming contracts.
You can earn get 1 Spirit with 1000 ETH-FTM LPs per hour. Thus each day you will earn 24 Spirit. Doesn’t sound bad, does it? But if you have an economical mindset, you may want to make more profits by doing the following:
- Swap half of the Spirit rewarded to ETH and the remainder to FTM
- Provide liquidity for more ETH-FTM LPs.
- Stake a new LP into the pool to gain more Spirits
- Repeat the above steps every few hours
I think you will definitely not want to do so because it will take a lot of time and effort and the profit is not worth it, right? Understand these difficulties, the project Ester has been developed and will do the job for you. You just need to stake your token in Ester’s vault and enjoy the results!
You don’t need to do anything more and you can also withdraw your tokens whenever you want.
3. How the vault works (Vault)
4. EST token
EST is a governance token and will collect a portion of the compound interest of all vault in the future.
4.1. Basic information and token distribution
- Symbol: EST
- Chain: Fantom Opera
- Contract: 0x181f3f22c9a751e2ce673498a03e1fdfc0ebbfb6
- Total supply: 3,000,001
4.2. Tokens available for Liquidity Farming
Note: Ester support wFTM staking menu for liquidity farming, not the FTM platform token. If you don’t know where to convert then SpiritSwap would be an ideal place to do it. Remember that wFTM: FTM has a 1: 1 ratio.
5. The team behind Ester
The project was developed by an anonymous team, directly inspired by the profit optimization projects that were developed on Ethereum and Binance Smart Chain as Yearn, Auto and Beefy.
7. Partners and investors
Fantom created a new wave in the DeFi space with high performance technology together with strategic partners aiming to create the slogan: “Fantom is the place for developers to build their projects”.
EsterFinance is one of the potential startups and has many prospects to contribute to Fantom’s wave.
All information in the article of CHK All are for informational purposes and do not constitute investment advice. Wish you all success in your investment and trading journey.
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