As part of the launch of WHEAT, our yield optimizer, and MOR, our borrowing/lending protocol on Avalanche, we are extremely excited to announce that Growth DeFi will be collaborating with Trader Joe to conduct an airdrop of our governance token, GRO, to xJOE holders! This deflationary token receives revenue from all products in our ecosystem, can be staked on Wheat, and can participate in the DAO.
The MOR lending/borrowing platform will utilize all Trader Joe products (xJOE, Joe LP Tokens, and Banker Joe). As such, we want xJOE holders to start their journey in the Growth DeFi ecosystem with the ability to test out its tokenomics and governance system. Using MOR, Trader Joe ecosystem tokenholders can leverage their yielding collaterals to earn while they borrow. MOR also implements self-repaying loans, so that as users collateral yield increases, their debt simultaneously decreases.
Users can also take advantage of the most competitive APYs in DeFi on our yield optimizer, WHEAT. Our WHEAT token was built to be deflationary and when we implement our HYBridge for users to bridge tokens from BSC to Avalanche, a large portion of the WHEAT supply will be burned.
Eligible users for the airdrop:
Those addresses holding liquid xJOE or xJOE staked in TraderJoe’s MasterChef contract. Yield aggregators won’t be included in the snapshot.
- Top 100 xJOE holders will receive 500$ worth of GRO each
- Top 100–1000 xJOE holders will receive 75$ worth of GRO each
- Any other xJOE holders will receive 5$ worth of GRO each
To protect against a sybil attack, there will be a minimum amount of 5 xJOE to be eligible for the airdrop (we reserve the right to change this minimum amount if specific farming patterns emerge seen in other airdrops).
Do I need to claim the airdrop?
No, it’ll be directly airdropped to your address.
When is the snapshot and when will the airdrop be?
We are planning to do the snapshot and airdrop sometime in the coming week after the launch of WHEAT and MOR on AVAX this Friday.
What can I do with GRO?
GRO is the governance token of the Growth DeFi ecosystem. You can convert your GRO 1:1 to govGRO (with no fees) to:
- directly participate in the GRO DAO and at the same time,
- stake your govGRO in WHEAT for impressive staking rewards.
If you have any other questions about the airdrop or how Growth DeFi’s ecosystem works, feel free to join us on Telegram.