Growth DeFi, a decentralized, multi-chain ecosystem that maximizes investors’ returns, has reportedly announced plans to expand its current ecosystem to the Avalanche network in October.
The Avalanche network is an open-source platform that enables the deployment of DeFi applications and anyone on the network to trade assets in a decentralized form.
Growth DeFi has positioned itself as a leader in the decentralized cross-chain space, established to focus on maximizing returns on investments through its several product offerings.
Its objective is to increase investors’ value, maintain the best yields on the market, and create a sustainable space that enables users to have multiple streams of income from their investments.
Growth DeFi vision and mission aligns with the Avalanche Network, so launching on the platform is only logical to foster the growth of the decentralized ecosystem.
According to the team, reaching the decision to launch fully on the Avalanche Network is a big step in the right direction because it will allow users a complete access to the various products on Growth DeFi. Users can experience greater capital efficiency on the platform’s several product offerings.
The Launch of GRO, MOR, and Hybrid Cross-chain Bridge “HYBridge” on Avalanche
Growth DeFi is also planning the launch of its decentralized governance token GRO on the AVAX network. GRO is a token that gives its holders the power to govern the MOR protocol, not excluding collateralization ratios and funding. MOR is a borrowing platform and stable coin on BSC that assists users to fund their crypto assets.
According to the team, Growth DeFi will offer GRO holders the opportunity to stake and earn WHEAT, a token used to incentivize various products on the ecosystem. WHEAT is awarded to GRO holders for providing liquidity.
Hybrid cross-chain bridge or HYBridge summarizes Growth DeFi’s aim to become the revolutionary. WHEAT’s hybrid bridge is a cross-chain that aligns incentives between WHEAT token holders on several chains. WHEAT is the incentive token of the WHEAT protocol.
The token earns by charging on MOR users. When a user deposits collateral into the MOR Vault, the MOR protocol harvests the performance fees on the yield that gets transferred to WHEAT’s Exponential Buyback Collector that eventually buys a revenue-generating asset to burn WHEAT.
GRO DAO Governance Goes Live
A new tweet on the official page of the Growth Defi has indicated that the GRO DAO governance has gone live today. Participants can now stake GRO and MOR to earn WHEAT. The GRO DAO governance protocol allows users who stake on the AVAX network to earn WHEAT in an incentivized product ecosystem. The launch gives access to GRO holders to participate in DAO governance and vote on the network.
The announcement was made earlier today on the WHEAT website. GRO holders can earn up to 164.70% APY and 0.24% daily in Farms. The staking project will also be launched on Avalanche next week after the team finishes the backend modifications and troubleshooting. MOR staking on Avalanche is set to have a self-repaying loan feature.
Growth DeFi Announces Partnership with Trader Joe
Growth DeFi collaborated with Trader Joe, a leading DEX on Avalanche to offer users better ways to earn on their assets. With Joe LP Pairs and Joe assets like xJOE, JOE/USDT acting as collaterals, you can leverage your capital up to three times to increase your returns.
To kickstart the partnership, Growth DeFi announced a $2000 giveaway in its GRO token to five winners who can answer all the questions asked correctly.