#7DaysofGrowth: Announcing Growth DeFi’s Metamorphosis + an Ecosystem Overview
We are excited to not only announce MOR’s launch on Fantom, but also launch of a week of announcements, partnerships, and more good news for the Growth DeFi ecosystem. We are aim to become one of the leading protocols that will provide the best options for user and protocol capital efficiency in DeFi. Our campaign will start 21 January and will run through 27 January.
Who is Growth DeFi?
Growth DeFi has been around since 2020 and is 100% community-grown and backed. Our and tokens have never held any funding rounds or pre-sales. With the support of our strong community, we’ve built and are building an ecosystem that is one of the most capital-efficient ecosystems for individuals and DAOs. For anyone unfamiliar with Growth DeFi, we’ll give a brief overview of MOR and GRO.
MOR Protocol and MOR Stablecoin
MOR Protocol is a decentralized, cross-chain lending platform that allows users to use their yield-earning collaterals as leverage for borrowing and also utilizes self-repaying loans on some chains. MOR allows users to mint an overcollateralized stablecoin, also called MOR, that allows users to fee up capital for reinvesting into more stTokens or LPs.
MOR stablecoin is a fork of Maker’s DAI with the added change that allows users to use yielding assets as collateral to take out a loan. On MOR on Avalanche and FTM (and eventually BSC), users can take 0% or even negative interest rate loans, which means that the loan debt decreases over time, and the loan becomes self-repaying. This feature decreases the risk of vault liquidation.
MOR’s stkToken architecture was audited by a top-tier auditor and the creator of Metamask, ConsenSys Dilligence (who also audited top projects Uniswap, AAVE, 1inch, and Bancor). The forked DAI-specific portion of MOR was audited by DeFi Yield and CertiK.
Please see our user guide on how to use MOR’s vaults for borrowing or leveraged yield farming. Users can buy MOR on ApeSwap (BSC), TraderJoe (Avalanche), and on February 23, Fantom (SpookySwap and SpiritSwap). Stake your MOR here on BSC or Avalanche.
GRO is Growth DeFi’s deflationary governance token that controls the DAO and also receives MOR revenues. GRO is the flagship token of the ecosystem and therefore, profits that are generated by MOR feed back to GRO through buybacks, burns, staking rewards, and treasury growth. MOR fees that go back to GRO holders include MOR’s PSM (Peg Stability Module) Swap fees, performance fees, liquidation penalties, borrow fees, yield from MOR’s PSM holdings, and more. GRO’s supply supply is very low across all chains (less than 600,000) and 5% of a user’s GRO is burned every time someone bridge GRO to another chain.
For users who want to do more than just hold GRO, there are a few use cases to help maximize their yield:
- govGRO. govGRO is Growth DeFi’s governance version of GRO. Users can get it by swapping their GRO 1:1 for govGRO on BSC and AVAX (and soon Fantom). Please see this guide on how to stake govGRO.
- veGRO. veGRO is timelocked govGRO. veGRO boosts a holder’s staking rewards for both veGRO staking and MOR staking. The longer you stake veGRO, the higher your staking rewards. veGRO is called GRO diamonds on MOR’s platform. “ve” stands for “vote-escrow”, which is a token model made popular by Curve. Curve has locked over $2bn of CRV — over half of its supply — using veCRV. Holders can stake veGRO and receive GRO and MOR rewards on BSC and AVAX. Please see this guide on how to stake veGRO.
Please stay tuned for more exciting announcements as we launch our #7DaysofGrowth campaign in less than 24 hours! If you haven’t already, please subscribe to our Medium account to receive the latest news and updates.