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Fantom
$1.99 -5.29%
FTM · 1w

Bullish on tarot protocol after staking feature upgrade

Team, not sure how many of you are using tarot protocol, which is a fantom-only lending and borrowing protocol. I really like the interface, the possibility to single asset lending, i.e. no impermanent loss and the ability to do leveraged farming at 2, 3, 4 or 5X at more than 300% apr is pretty nice too. Overall i always felt this is one of these overlooked protocols in the fantom universe. Main issue was the fact that its own token, the tarot token, was mostly seen as a farming token only. Thus it was only decreasing in value over the last months. However last night, on time for thanksgiving, the tarot developing team introduced some nice new feature - the ability to stake tarot token! As a result, 50% of overall protocol fees are distributed back to stakers as rewards, among other features you can read here: [https://tarotfinance.medium.com/introducing-xtarot-unlocking-the-true-value-of-community-driven-governance-25d6761cfe4d](https://tarotfinance.medium.com/introducing-xtarot-unlocking-the-true-value-of-community-driven-governance-25d6761cfe4d). This makes me very bullish as with this move, tarot token becomes a governance token, which should reduce the downward price pressure. This combined with the great interface and functionality should result in a way higher price than where it stands right now. If you take into account the low market cap (less than 10 million) and compare to locked TVL, I am even more bullish.
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