Growth DeFi Partners With OlympusDAO To Join Avalanche’s Inaugural Cohort

By | December 19, 2021
  • Growth DeFi partners with OlympusDAO to be a key player in Avalanche’s inaugural cohort.
  • Growth DeFi has launched its new hybrid bridging mechanism for its $ WHEAT incentive token.
  • $ WHEAT can be grown by betting GRO, MOR or WHEAT.

DeFi Growth, – An innovative cross-chain culture protocol DeFi, has announced its fantastic partnership with OlympusDAO to join the first Olympus Pro Avalanche cohort.

On November 13, Growth DeFi launched its innovative hybrid bridge, a new mechanism for its incentive token, $ WHEAT. Additionally, the Growth DeFi platform’s over-collateralized stablecoin, $ MOR on Avalanche, brings benefits from the new hybrid bridge architecture that aligns incentives among TRIGO holders across different chains.

To clarify, $ WHEAT is an incentive token in the Growth DeFi ecosystem that can be generated by betting GRO, MOR, or WHEAT. The WHEAT hybrid bridge exists to improve cross-chain DeFi. According to Growth DeFi, TRIGO’s hybrid bridge will benefit Growth DeFi stakeholders and TRIGO holders.

In addition, the TRIGO hybrid bridge is an important feature that adds value to WHEAT Headlines. The protocol enables bid reduction through arbitrage and provides exceptionally high APYs on the Avalanche chain.

On the one hand, the hybrid bridge protocol will be financed with 10% of Avalanche’s daily emissions, which will include price changes on Binance Smart Chain (BSC). By doing this, the Avalanche ecosystem will be periodically updated on time.

All the features of the Growth DeFi ecosystem, including the recently implemented hybrid bridge and the self-cleaning loan facility for MOR and xJOE leverage agriculture, are on the Avalanche chain.

What’s more, MOR It functions as Growth DeFi’s over-collateralized stablecoin that enables users to earn returns. Through this, users can borrow and take advantage of agricultural performance positions for LPs and individual assets. At the same time, GRO is the governance symbol of Growth DeFi and owns the surplus generated by MOR.

Additionally, MOR converts high yield fees earned on performance into USDC.e, injected into a secondary linkage stability module (PSM), which converts high yield fees collected in USDC.e back to MOR.

Additionally, the self-repayment approach also contributes to MOR’s status as a stablecoin. To do this, it produces a daily flow of USDC.e in the PSM, which makes it much easier for users to borrow and exchange MORs.

The growth ecosystem’s association with OlympusDAO resulted in the addition of three links to the Olympus avalanche cohort:

GRO / MOR TraderJoe LP Chips

Users will exchange their LP tokens for Growth DeFi’s governance token, GRO. The surplus earned by MOR, the over-collateralized stablecoin now backed on Avalanche by xJOE, TraderJoe LP tokens, and jTokens, is distributed to governance tokens (deposits at BankerJoe). Notably, there is $ 1.85 of collateral backing each MOR in circulation.

The GRO / MOR bond would help provide GRO liquidity; 20,000 GRO per month would be assigned to the bond.

TRIGO / MOR TraderJoe LP Chips

Users will exchange WHEAT / MOR LP tokens for WHEAT, the Growth DeFi incentive token. In addition, Olympus Pro Bonuses will assist in the purchase of various performance accumulation tokens, increasing the value of WHEAT’s treasury and backing per token. 70% of the 25,000 WHEATs reserved for bonds will be distributed in the first month.

MOR / AVAX TraderJoe LP Tokens

Users will exchange their LP MOR / AVAX tokens for AVAX. MOR must be able to be exchanged directly for other assets on the network to improve liquidity and make it negotiable.

In addition to the MOR / AVAX bond, Growth DeFi intends to offer MOR exchanges with major assets such as BTC, ETH, and gOHM. The first month will see the allocation of 30% of the 11,000 WHEATs destined for bonds.

The purpose of these bonds is to allow the growth ecosystem to own its liquidity and stop relying on external LPs to provide liquidity. As a result, the bonds would improve the amount of MOR outstanding while providing a greater depth of liquidity for buying and selling GRO and WHEAT.

Furthermore, the bonds will also allow the ecosystem to earn additional income from trading fees and always provide liquidity regardless of market conditions.

The partnership with OlympusDao would help the Growth ecosystem integrate the vibrant ‘ohmie’ community into its ecosystem. OlympusDAO, which has raised over $ 800 million in bond volume, understands bond setup and Growth DeFi can leverage that knowledge to your advantage.

The introduction of bonds and collaboration with OlymousDAO appear to have positioned Growth DeFi as an ecosystem, offering more value and changing the way DeFi works as a whole.

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