Growth DeFi x ApeSwap Partnership Announcement

Growth DeFi is proud to welcome ApeSwap onboard as our official partner for the launch of our overcollateralized stablecoin MOR. This partnership presents substantial benefits for both respective communities, and we are excited about the prospect of working together to benefit our users!

So what does this mean? What are the benefits for partnering?

For ApeSwap users:

Firstly welcome Apes to our community! You may wonder what this partnership offers you, and we are pleased to offer numerous benefits, which are outlined below:

  • BANANA listed as collateral for MOR
  • Ability to leverage yield earning BANANA tokens
  • GRO-rewarding BANANA fiesta pool
  • MOR/BUSD incentivized LP to farm BANANA
  • Increased TVL & Volume
  • BANANA token burns

ApeSwap users get a ‘golden ticket’ to all the user benefits MOR has to offer, with direct collateral access and having a dedicated MOR/BUSD LP so you can borrow MOR and farm for BANANA, or easily swap your MOR into other assets directly through the ApeSwap platform!

MOR/BUSD will be the primary trading pair, meaning ApeSwap will drive the trading traffic/volume of all MOR users!

“Ever dreamed of getting thousands of % APY staking your BANANA and benefitting further from BANANA price increases? It will soon be possible with MOR!”

ApeSwap users can also take advantage of the yielding collateral options to leverage their returns with either the MOR/BUSD LP or staking BANANA, here’s an example overview of how that would work:

Leverage Yield Farming using stkBANANA

  • Yield Farming without leverage: 219.34% APY (minus 0% Stability Fee) = 219.34% net APY
  • 1.5x leverage: 570.67% APY (minus 5% Stability Fee) = 565.67% net APY
  • 2x leverage: 1,019.8% APY (minus 10% Stability Fee) = 1,009.8% net APY

Read all about MOR here: https://growthdefi.medium.com/mor-capital-efficiency-for-bsc-a-novel-way-to-borrow-and-get-paid-for-doing-so-by-growth-20c97b542633

MOR allows you to leverage your yield!

For Growth DeFi users:

And what about the Growth DeFi community? Well aside from aligning with a huge player in the DeFi space, ApeSwap will provide added liquidity for MOR, so borrowers can take full advantage of their funds however they wish!

How does this partnership indirectly serve to benefit the existing tokens of the Growth DeFi ecosystem?

GRO

  • Required as governance token for each chain MOR operates on (creates demand)
  • Can be farmed with BANANA tokens for ~1 month in the BANANA Fiesta pool
  • MOR system surplus used for GRO buybacks

gROOT

  • Greater MOR liquidity makes it easier for the treasury to leverage yield and maximise profits to tokenholders

WHEAT

  • Greater usage of WHEAT vaults (stkTokens) as collateral leads to more fees and revenue for buybacks & burns

Liquidity Migration

As part of our commitment to this partnership, some team liquidity for GRO/BNB & WHEAT/BNB pairs has already been migrated to the ApeSwap platform — meaning users can now trade both tokens freely on the platform!

We are also migrating the associated WHEAT vaults & rewards (ONLY for the above mentioned pairs) to ApeSwap, with a gradual smoothing period in which the WHEAT reward multipliers will be split between the existing PCS vaults & the new ApeSwap versions, in order to allow users ample opportunity to migrate their LP tokens across.

The process is fairly straightforward:

  1. Remove LP tokens from the WHEAT vaults at https://wheat.growthdefi.com/vaults
  2. Remove liquidity on PCS at https://exchange.pancakeswap.finance/#/pool
  3. Go to https://app.apeswap.finance/create/ETH to add liquidity to ApeSwap
  4. Deposit LP tokens into the ApeSwap WHEAT vaults https://wheat.growthdefi.com/vaults

Note: You will need to import the token addresses to add liquidity, these addresses are provided below:

GRO: 0x336ed56d8615271b38ecee6f4786b55d0ee91b96

WHEAT: 0x3ab63309F85df5D4c3351ff8EACb87980E05Da4E

More information and documentation for users will be available in the coming days closer to launch, which is fast approaching in early August! As always feel free to join us in our Telegram or Discord to ask any questions you may have!

Leveraging the power of DeFi protocols to maximize capital efficiency & value