As we formally launch Growth DeFi on Fantom (FTM) tomorrow, we are delighted to announce we’ve secured a formal partnership with LiquidDriver.
LiquidDriver is the first provider of liquidity-as-a-service in the Fantom ecosystem. Users can provide liquidity for pools in their chosen DEX and stake the LP tokens in LiquuidDriver’s farms — including SpiritSwap, Spooky Island, Magic Land, Beethoven-X — to earn LQDR emissions.
LQDR has also introduced xLQDR as a high-yield vested version of LQDR that maximizes returns for our long-term users and locks supply away.
Following collaborative discussions, we are pleased to announce that Growth DeFi will now introduce a new derivative — cLQDR, in partnership with LiquidDriver.
“We are excited for the partnership, and with Growth DeFi being the first to market with a wrapper for xLQDR, I am sure that the LiquidDriver community as a whole are excited at what is to come in the future as well as looking forward to building more with the GRO team. There is MORe to come!”
— Dr Liquid, Co-Founder, LiquidDriver
What is cLQDR?
cLQDR is a wrapped derivative token built on top of xLQDR, and has several functions:
- Allow users to sell their position in secondary markets
- Compounds all the rewards (cLQDR goes up vs LQDR over time) which increases the long term returns and makes cLQDR easier to integrate in borrow markets, LPs and other protocols
- As a cLQDR holder, you profit from both the reward and the future bribes that xLQDR holders will receive (coming soon) and the performance fees collected through strategies
- Constant buy pressure for LQDR and perpetually locking a big part of the LQDR’s supply
This means, for an example, you now have the ability to compound your LQDR/FTM SpiritSwap position at the same time that you’re able to borrow against it.
LiquidDriver farms and their xLQDR fit perfectly for what we want to do, especially if in the future some type of boosting with xLQDR is implemented. We would then also implement the ability to borrow MOR against strategies that route through LiquidDriver farms and the different LiquidDriver tokens (LQDR, LINSPIRIT and any other derivatives that are created).
How does this benefit GRO?
More LQDR permanently locked in cLQDR means increased and more permanent cashflows for veGRO on Fantom.
This means veGRO becomes even more self-reliant, more quickly, and rewards are less dependent on MOR surplus. In fact, veGRO holders will receive a constant stream of distributions through cLQDR. That means that veGRO holders get 20% of all the cLQDR acquired, so if the cLQDR contract collects $1,000 of rewards then veGRO holders end up with $200.
It gets better still. Once there is enough cLQDR it will actually be possible to fund all GRO emissions through veGRO with buybacks — effectively meaning there will no longer be any net emissions of GRO!
This is a fantastic and sustainable revenue-generating opportunity for Growth DeFi and another step in us driving protocol returns back to GRO holders.
Great! When will cLQDR launch on Growth DeFi?
The cLQDR smart contracts are already deployed, tested, and working. We have also created a cLQDR/LQDR SpiritSwap LP.
If you’d like more information on this, join us in LiquidDriver’s Discord channel for an AMA with Growth DeFi co-founder SafeGROWTH#3661, on 23 February 2022 at 17:00 UTC at http://discord.gg/LiquidDriver.
Be sure to check out Liquid Driver’s coverage of Growth DeFi’s launch of cLQDR on MOR.
For newcomers, read here for an overview of our tokens/ecosystem, GRO and MOR. We have launched an exciting campaign to share the progress we have made as we are nearly midway through our #7DaysofGrowth:
• Day 1: MOR Yield Partnership with ApeSwap
• Day 2: MOR Partnership with Liquid Driver
• Day 3: MOR Fantom Launch
• Day 4: ?
• Day 5: ?
• Day 6: ?
• Day 7: ?