What is Gro Protocol? Gro Protocol is a DeFi Yield Aggregator protocol for Stablecoins. Gro helps users divide risk and profit with the first two products built: PWRD and Vault.
So what is Gro Protocol? Let’s find out with Hakresearch in this article.
What is Gro Protocol?
Gro Protocol is a DeFi Yield Aggregator protocol for Stablecoins. Gro helps users divide risk and profit with the first two products built: PWRD and Vault. PWRD is a product that protects users’ deposits and profits while Vault is a product that helps users earn high profits with high risks and insures PWRD.
The protocol delivers the best DeFi returns by continuously optimizing market returns including lending on AAVE, providing liquidity on Curve and Farming on Convex.
In addition to Gas fees, the project charges 5% on profits at PWRD and 10% on profits at Vault. This fee may change in the future based on the protocol’s DAO. In addition, when withdrawing money from the Vault, users will lose 0.5% in fees to pay the remaining Holders in the Pool.
Mechanism of Action
Gro Protocol includes 3 products: PWRD, Vault and Labs.
PWRD products
PWRD is a Pool for users to deposit DAI, USDT, USDC assets to earn profits with extremely low risk. When sending assets to the Pool, users will receive back PWRD Stablecoin Token with value equivalent to the deposited assets, used to add liquidity on Dex or Staking. Assets in the Pool will be invested by the protocol to earn profits returned to depositors after deducting insurance fees for the Pool Vault. Thanks to insurance, users in this Pool do not have to suffer losses or liquidity risks when the Farm or assets lose Peg, are attacked by Hackers or the protocol fails.
Vault Products
Similar to PWRD, when sending assets to Pool Vault, users will also receive PWRD Stablecoin Token. The protocol uses assets in the Pool to invest to earn profits to return to depositors plus insurance fees at PWRD. In addition, Pool Vault assets are also merged with Pool PWRD to provide liquidity on Curve in a Pool that combines 3CRV (USDT, USDC, DAI) with other Stablecoins. Because it must bear all losses for Pool PWRD, if any, Pool Vault will receive additional insurance premiums from Pool PWRD.
Labs Products
A product from the combination of Gro Protocol and Alpha Finance for users to use leverage to Farm with high APY. But to participate, users must hold at least 500 GRO on the Ethereum network.
Development Roadmap
Accomplished
- Trail of Bits Audit
- Additional Check: Fixed Point Solution
- Decentralized user interface
- The DApp is fully optimized for mobile devices
Developing
- Automatic stop loss with adjustable parameters
- Remove withdrawal fees for PWRD
Future development
- Update profit sharing curve
- Fiat Offramp
- Create wallet with login email
- Deposit with more stablecoins (e.g. FEI, FRAX)
- Remove withdrawal fees for Vault (reduce APY)
- Gro DAO tokens are available for trading on cheaper chains
- Use Gro products as collateral (e.g. Fuse pool or Aave)
Core Team
Hannes Graah: Founder
- His notable academic achievements include earning a Bachelor of Science, Psychology and Master of Laws from Lund University. In addition, he also holds a degree in commercial law and international business from the National University of Singapore.
- After graduating, he spent more than 10 years establishing Start Ups such as Libertas Amici Gaudium, Psynapsys, DND, CIA Lifestyle Pte Ltd.
- After that, he worked as Associate Brand Manager at Procter & Gamble for about 3 years. Launched sub-branches (Xtreme & Multigrain) and won P&G’s first Cannes Gold Cyberlion.
- Next, he worked as Global Chapter Chair at H2 (h2.co) where he met entrepreneurs and technology executives from many parts of the world.
- After 2 years working at H2 (h2.co), he moved to work for Spotify. While working at Spotify, he held several positions such as Business Operations Director, Managing Director Japan, Global Head of New Markets.
- He moved to Revolut for about 1 year as VP Growth after more than 8 years working for Spotify.
- Currently, he is the Founder of Gro Protocol and Builder at Zeal.
Chris Hayward: Head of Design
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Chris Hayward earned a Bachelor of Design after studying at Swinburne University of Technology.
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After graduating, he spent 2 years working at Design + Industry as Product Design Engineer – Hardware.
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After that time, he worked as Postgraduate Lecturer & Innovation Coach at Design Factory Melbourne.
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After 1 year working at Design Factory Melbourne, he moved to Self-Employed with the job of Brand & Product Development Consultant for more than 5 years. He has worked with entrepreneurs and early-stage startups to develop and deploy consumer products and brand solutions.
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Next, he worked for Revolut for 1 and a half years as Brand Designer and Head of Brand Studio.
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Currently, he is Head of Design at Gro Protocol and Designer at Zeal.
Investors
March 30, 2021: At the Seed round, the project successfully raised $7.1M led by Galaxy Digital and Framework Ventures along with a number of other funds such as Variant, Northzone, Nascent, acapital, 3AC and Founders of DeFi protocols Aave, Compound and Synthetix.
Tokenomics
Overview information about Gro Protocol Token
- Token Name: Gro Protocol
- Ticker: GRO
- Blockchain: Ethereum
- Standard: ERC-20
- Contract: 0x3ec8798b81485a254928b70cda1cf0a2bb0b74d7
- Maximum supply: 100,000,000
Token Allocation and Release
- 45% – Community Incentives: this reward includes collaboration bonuses, community engagement activities such as the “Gro 4 All” airdrop, and liquidity mining program.
- 22.5% – Team & Advisors: this part will be locked for 1 year and paid in installments over 3 years
- 19.5% – Seed investors: this part will be locked for 1 year and paid in installments over 3 years
- 13% – Gro’s DAO Treasury: includes grants, marketing expenses, and ongoing operations of the protocol.
Token Use Case
- Governance: Token holders will participate in protocol governance.
- Loyalty incentives: GRO will be distributed as additional incentives to the community to provide liquidity through staking pools and various community participation programs or DAOs.
- Priority access to Gro products:Getting priority access to the best production available on Gro at Labs is the first step to ensuring better access for GRO holders.
Exchanges
GRO Token is traded on Dex exchanges such as Uniswap, Balancer.
Gro Protocol’s Information Channel
- Website: https://www.gro.xyz/
- Twitter: https://twitter.com/groprotocol
- Medium: https://medium.com/gro-protocol
- Discord:
Summary
So, I have clarified what Gro Protocol is? Gro Protocol cryptocurrency overview. Hope this article provides you with a lot of useful knowledge.