About
Grim Finance, a compounding yield aggregater on the Fantom Opera blockchain (NASDAQ:), is called. Users can stake liquidity provider tokens from Automated Market Makers platforms using the decentralized finance (DeFi). Grim Finance automatically restakes reward for a compounding impact, and so helps to increase the returns.

The DeFi protocol is a fork of multi-chain yield optimizer platform Beefy Finance “with an enhanced user experience and a wider selection of Fantom pools.”

Grim Finance comes with two different tokens: the protocol’s main deflationary GRIM token, and REAPER, the farming token.

Grim Finance was published in the latter part of 2021.

The current status of the project
This protocol is built on Fantom Opera’s blockchain, which seeks to resolve blockchain trilemma. It can be used in conjunction with the.

Grim Vaults Protocol is compatible with cross-chain zappable functionality.

The Grim protocol allows users to stake various tokens into Grim Vaults in order to earn rewards in the project’s native token. The compound harvest is automatically checked by Grim Vaults and the tokens are reinvested every 60 minutes. A small fee will be deducted.

The GRIM token allows the protocol’s users to become its shareholders. It can also be used for staking and earning XGRIM tokens, which grant voting rights on the platform’s DAO.

Protocol charges a 1% fee for burn and a liquidity fee of 1% on all transfers.

Grim Finance intends to connect REAPER, a farming token, with its Game Model and Index Funds. This token can be used to play Grim Finance games.

Whitepaper
No separate document available for the project’s whitepaper.

The project’s description and tokenomics are reported in the official website docs.

Phase of Development
Solidity Finance has audited the protocol. This smart contract auditing company protects more than $1 billion of on-chain investments.

The project is in the final stages of launching the Grim Casino with ‘6 Max No-Limit Texas Hold’em’The first game.

15 platforms for farming launched. 142 vaults were added. GRIM, REAPER tokens are launched. REAPER Farms have been deployed. Vault migration to V2 is implemented.

The Grim Finance platform suffered $30 million in losses of Fantom tokens as a result of an attack that took place on December 18th 2021.

Roadmap
The launch of the Index Fund Vaults, Betting Market Maker, and GRIM & REAPER synthetic mechanism are “in production,” according to the project’s roadmap.

Zapper functionality, Grim Reaper’s merch store, and partnership acquisition are all planned for the future.

No timeline is available for the future development of plans.

Fundraising
There is no information on where the original liquidity came from.

Teams
There is no information available about the Grim Finance members.

Community
Social media accounts include Twitter (NYSE.) (15K), Discord (19.5K). Regular posts, active communication

Low community involvement, both in terms of numbers and values.

Grim Finance is not active on GitHub. Their official website does have a link.

The key metrics
Maximum supply 100,000,000

Supply circulation:46.5 Million

Capitalization of the market: Below $1 Million ($567K).

Total value lockedThe price at publishing was $4.1 million

ATH: $0.06337 (July 2021)

ATL: $0.0069 (December 2021)

Token distribution and allocation
Yield farming is supported by 85% of REAPER tokens.

10% goes to the developers fund.

Community airdrops account for 5%.

Listings in exchange
Only available via the SpiritSwap Decentralized Exchange on Fantom Opera Blockchain SpiritSwap still in development.

Check out our Wallets
The Grim Finance Wallet – not yet available at the time of publishing.

Verdict

• Grim Finance looks like an extremely high-risk sector to me, especially considering the $30 million protocol hack in which the compounding yield aggregator lost over 95% of its TVL (Total Value Locked), dropping from $98M up to $3.4M.
• Because the project is new, no one can verify how experienced and reputable they may be. Investors are not held responsible if funds are misplaced.
• Vault protocols represent one of the most dangerous areas in DeFi. It is very difficult to inspect yield-generating contracts because they are so complex.
• Solidity Finance audited Grim Finance. This is a common practice for small and young projects. However, the Grim Finance protocol was still inspected by budget auditor Solidity Finance. It should be used as a guideline for future project evaluations.

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