Growth DeFi Ecosystem Lands on Avalanche Network and Goes Cross Chain
DeFi members may keep complete control of their assets while still having access to financial products and platforms that offer considerable benefits over their competitors. DeFi users make the majority of decisions, such as trading on a decentralized exchange, lending money through liquidity pools, holding assets using private keys, and purchasing tokens, among others.
CoinGecko reports, DeFi has only 5% of the crypto market, but it has seen impressive growth recently. Till June 2021, the crypto market has $93 billion in DeFi assets, up from $4 billion just three years before. And with projects like Growth DeFi, the DeFi industry has many more milestones to achieve. To build a sustainable environment, the Growth Defi ecosystem makes use of a variety of assets. This allows customers to diversify their risk and generate one or more revenue streams from their investments. Let’s try to get a clear idea about this and its Cross Chain expansion on the Avalanche Network.
What is Growth DeFi?
Growth DeFi is a decentralized ecosystem that combines a variety of products to focus on capital efficiency and maximizing returns. The goal is to maximize token holder value while maintaining market-leading yields and products. The Growth DeFi ecosystem is made up of multiple chains.
GRO is the prime token of the ecosystem, it has governance authority over Growth DeFi's ecosystem, is deflationary, and partial revenue from all Growth DeFi products is allocated to GRO token holders.
gROOT is a token that is directly tied to DeFi's performance in BSC by accumulating a treasury of yield farming positions in several protocols such as Pancake Swap, Auto Farm, and Venus.
The WHEAT token is used to encourage the GrowthDeFi ecosystem's products. In exchange, a considerable percentage of the money is allocated to buybacks and burns, with the ultimate goal of deflationizing WHEAT.
Growth DeFi just stated that it is switching to a Cross-Chain model. And these are the justifications they gave:
- The cost of transactions is lowered.
- Transactions that are executed in a shorter amount of time
- TVL and composability for other chains and L2 solutions are on the rise in 2021.
- A bigger market to which you can cater
- Higher overall yields can be achieved by combining chances from multiple chains.
MOR & WHEAT turning Cross-Chain on Avalanche
The Avalanche network will receive the Growth DeFi ecosystem ($GRO, $WHEAT, and MOR, including the MOR and WHEAT protocols) in October. After a thorough examination of their cross-chain expansion options, the team believes the network is ideal for them to move into. They're already developing alliances and ties with projects and the ecosystem to guarantee that the launch is a tremendous success for AVAX users, and we're enthusiastic about the potential of offering even more upgrades and improvements to their products to assist consumers to get the most out of the market.
Wheat UI Update
They hired the same designer to revamp the WHEAT site as well (along with the main Growth UI), for what they did for MOR’s website. After the governance portal is finished and govGRO is ready to be added as a pool, this will be displayed.
Airdrop for GRO and xJOE holders
As previously said, the xJOE holders base will be snapshotted, and the platform will airdrop GRO to around 3207 xJOE holders.
- The airdrop's total value equals 0.77 percent of GRO's circulating supply, and:
- The top 100 people would receive a total of ten GRO.
- One GRO would be given to each of the top 100-900 people.
- 0.1 GRD will be given to the remaining 900-3207.
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