What is cLQDR?
cLQDR is a wrapped derivative token that Growth DeFi has built on top of Liquid Driver’s native xLQDR token. Holding cLQDR has several benefits:
- cLQDR compounds all the token rewards that currently accrue to xLQDR (which includes LQDR, WFTM, LINSPIRIT, BOO, SPELL and BEETS). This 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 these rewards, any future bribes that xLQDR holders will receive, and the performance fees collected through strategies;
- cLQDR holders can choose to leverage their cLQDR to borrow our overcollateralized stablecoin MOR at a 0% interest rate;
- Users can gain exposure to xLQDR while being able to sell their position in secondary markets; and
- It creates constant buy pressure for LQDR and perpetually locks a significant portion of LQDR’s future supply.
How cLQDR Benefits GRO
veGRO holders on Fantom will receive rewards paid out in cLQDR.
Growth DeFi levies a performance fee of 12.5% on cLQDR, meaning a portion of the cLQDR is sent to veGRO holders on Fantom. For example, if the cLQDR contract collects $100,000 in rewards then veGRO holders will receive $12,500 of these rewards.
Rewards can be claimed without penalty at any time.
The remaining 87.5% of the cLQDR is burnt, thus also continually increasing the price per cLQDR over time.
This results in many benefits to GRO and veGRO holders:
- veGRO holders receive a constant stream of distributions paid in cLQDR.
- cLQDR also increases in price per token over time.
- As more LQDR is permanently locked in cLQDR over time, this means there is an ever-increased and more permanent cashflow for veGRO on Fantom. Furthermore, this means veGRO becomes even more self-reliant, more quickly, and rewards are less dependent on generating MOR surplus.
- With enough cLQDR minted over time, it will actually be possible to fund all GRO emissions through veGRO — effectively meaning there will no longer be any net emissions of GRO!
Our launch of cLQDR is happening prior to our launch of veGRO on Fantom, which will follow soon afterwards. However, all cLQDR rewards for veGRO holders will accrue from the outset and will be paid out in the first reward distribution once veGRO launches on FTM.
Where can I mint cLQDR?
You can now mint cLQDR here: https://mor-ftm.growthdefi.com/clqdr
Note: In order to mint cLQDR, you will first need to obtain LQDR tokens, which are listed on all main Fantom DEXs, including SpiritSwap, Spookyswap, and Beethoven-X.
Read More about cLQDR
For more information, please check out the following info:
- cLQDR Documentation:
- MOR by Growth DeFi Medium article: https://growthdefi.medium.com/day-2-of-7daysofgrowth-partnership-with-liquiddriver-2a4af7436fa7
- LQDR Medium article:
- LiquidDriver-Growth DeFi Discord AMA:
- cLQDR Discord channel on LiquidDriver’s server:
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 LiquidDriver’s farms — including SpiritSwap, Spooky Island, Magic Land, Beethoven-X — to earn LQDR emissions.
LQDR 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 developed cLQDR, in partnership with LiquidDriver.