Growth DeFi Development Update
Hello GROwers! It’s been nearly two weeks since MOR was launched, and despite a subdued start we are pleased to provide further updates on our progress and of the changes being implemented this week!
We have been quieter than expected lately, mostly because we have been busy fixing UI bugs on MOR, and also working through some adversity with the incentives for MOR/BUSD liquidity providers which is one of the main drivers of the platform.
The team has been hard at work to co-operate with our partners rectify this situation and have full incentives reintroduced to the pair, and we are pleased to say we are close to a 5x increase this week! On top of this we have now confirmed further audit reviews of MOR (on top of the pre-existing reviews of WHEAT’s stkTokens and the Maker DAO infrastructure), and once these are completed in the coming weeks we will see another 2x incentive increase!
In addition, this week we are cleaning house on WHEAT vault pairs, as well as making some key additions! MOR single asset staking along with a MOR/BUSD pool will be added, defunct pairs and coins will be deleted, and wheat incentives will be reallocated appropriately. The reasoning for this change is simply the profitability of certain pairs is not proving an efficient trade for the WHEAT platform (considering token emissions paid out vs fees received).
The breakdown of what remains will look like this:
Growth Ecosystem Pairs (Total of 50x)
WHEAT/BNB ApeSwap (18x)
GRO/ BNB ApeSwap (3x)
WHEAT/BNB PancakeSwap (2x)
gROOT/BNB PancakeSwap (1x)
Other Vaults (Total of 56x)
CAKE (25x)- increase from 15x
MOR (increase to 10x)
MOR/BUSD (increase to 10x)
This will result in a total multiplier of 106x across all pools.
In addition to the changes to WHEAT, for the MOR protocol the stability fee of MOR/BUSD has been increased to 15% (all other vaults remain at 5%). This is to further encourage high leverage repayments of debt positions for this high demand pair whilst the price of MOR is beneath peg (so that borrowers can profit massively from the price difference on ApeSwap).
Lastly, the WHEAT UI is being completely professionally redesigned to match the MOR UI. We have received great feedback on the visual appeal and professional appearance of the MOR website and now want to translate that across the entire ecosystem!
As always you can follow all these updates as they occur as well as ask any further questions in our Telegram!