Geist is a lending protocol running on the Fantom network. It had over $29 million worth of crypto assets locked in its contracts before the Multichain hack. Before the hack, Geist allowed users to borrow, lend or use bridged tokens from the Multichain platform as collateral, including bridged versions of USD Coin (USDC), Tether (USDT), Bitcoin (BTC) and Ether (ETH). It used Chainlink oracles to track the prices of these assets to determine their collateral and loan values.
Continue Reading on Coin Telegraph
Source: Cryptocurrency - investing.com
