Yield Optimizer Growth DeFi Ecosystem expands to the Avalanche Ecosystem

According to the latest news, Growth DeFi boasts about expanding its frontiers to build a versatile DeFi ecosystem. Currently, live on Binance smart chain (BSC), the platform is ramping up towards its upcoming smart contract launch on Avalanche by 12th November. While we wait for this intensive venture, Growth DeFi has had some other recent major updates.

The WHEAT Incentive Token

Growth DeFi recently launched Wheat, a yield optimizer platform and incentive token. This new yield optimizer promises more benefits than other yield tokens. There are already more than 647 million Wheat tokens in circulation with more than 34 million burned tokens.

With Wheat, users get higher APYs as it’s a multi-layered token. Multi-layering generates more earnings from previous earnings; close to 500% APY. Users can also leverage their yield-earning liquidity pools using Growth DeFi’s MOR.

MOR is a lending platform to help Growth DeFi farmers earn more. By staking on MOR, users can automatically harvest their Wheat yields even without investing; an auto-compounding process.

 Furthermore, users can get higher yields by minting MOR with staked LPs and buying more LPs with the minted MOR. They still get more LPs from the existing LPs and can repeat the process. There are farming rewards for the new LPs too.

As a deflationary token, Wheat is sustainable. When buying back the tokens, the fee collector only uses earnings from staked CAKE or BANANA. The primary stake amount is untouched.

This new Growth DeFi yield optimizer promises security. It’s audited by ConsenSys Diligence; the same firm audited top DeFi projects from Uniswap, Bancor, AAVE, and 1inch. At the moment, Growth DeFi Wheat is the only smart chain project with a ConsenSys audit.

GRO DAO Governance

Growth DeFi launched the GRO DAO token, a yielding governance token in late august. GRO was Growth DeFi flagship token and governs all products and chains in the ecosystem. Users get voting credits whenever they stake GRO. They can use these credits to vote on DAO proposals.

If you’re a GRO user, you can stake GRO on WHEAT to earn WHEAT. With WHEAT staking, holders can partake in DAO governance. GRO also is a deflationary token and revenues come in via liquidation penalties, swap fees, and profit from MOR borrow fees.

The yielding governance token also collects revenue from the WHEAT token and MOR coin. With GRO DAO, there are no staking or unstaking fees, rather, users earn WHEAT for their stakes. Users that hold GRO without staking also get rewards.

Avalanche Launch & Self-repaying Loans for MOR

As a cross-chain ecosystem, Growth DeFi is expandable to different chains. There’s a need to expand the ecosystem which will increase GRO’s value. The project’s long-term plans include, besides Avalanche, launching on various ecosystem chains like Fantom, Starknet, Arbitrum, Optimism, and Polygon.

However, the Avalanche launch is so far the most complex venture by the Growth DeFi team. The Avalanche launch was earlier scheduled for October. However, such a complex integration requires thorough testing and is time-consuming.

Nevertheless, the dev team is working relentlessly so that when the cord strikes on 12th November, Growth DeFi will successfully launch on the Avalanche network. This Avalanche integration is coming with new self-repaying loans for the MOR stablecoin.

Growth DeFi aims to maximize the earning power of their product users and this comes into play with the self-repaying loans. If a user borrows MOR, the loan automatically decreases over time. Users earn extra yield when they borrow MOR. This means they get paid for borrowing rather than them paying interest.

This is possible because the interest paid to uses for borrowing MOR is lesser than the ecosystem’s revenue. Assets you can stake and borrow MOR with on the upcoming Avalanche network include JOE, ETH, AVAX, WBTC, USDT, and USDC.

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