Performance Update: May 2022

We’d like to present a brief performance update for Growth DeFi focused on our recent product launches on the Fantom blockchain.

MOR

MOR continues to prove popular with the Fantom community. Since we launched borrowing on MOR, only three days ago, over 32,000 cLQDR and 2.4 million sLINSPIRIT have already been posted as collateral in MOR vaults.

There is now over 4.2m MOR in circulation and 616,000 has been staked. This staked MOR contributes to Growth DeFi generating solid farming rewards through our AMO (Algorithmic Market Options).

This is perhaps best exemplified by the large volume of BEETS rewards that we have now accrued for Growth DeFi through the ‘Mor Steady Beets’ pool on Beethoven-x, which now has over $5.6m in Total Value Locked (TVL).

Readers may be aware that we’ve had to secure emissions for ‘Mor Steady Beets’ by offering GRO as a ‘bribe’ to fBEETS holders. This is facilitated through our participation in fortnightly Beethoven-x gauge votes. Typically, tokens that are offered through bribes are sold on the open market….

However, we are delighted to say the process of securing our own protocol-owned farming rewards through our AMO has now proved so profitable that all future bribes we offer for this pool can now be paid out in BEETS rather than GRO! This means no more GRO will be offered to and sold by fBEETs holders, yet the ‘Mor Steady Beets’ pool can continue to grow and generate excellent returns for Growth DeFi.

cLQDR

Our launch of cLQDR in partnership with LiquidDriver has been a clear success on Fantom.

There is now over 225,000 xLQDR held by Growth DeFi, representing 8.3% of the total. Through cLQDR we are now very quickly on our way to becoming the single biggest holder of xLQDR, and the associated performance fees are already now generating a six-figure annualized return for Growth DeFi!

Of course this has also been great in both generating sound returns and solidifying our partnership with LiquidDriver, who continue to prove themselves one of the most innovative operators in the space.

General Outlook

There is no denying that overall market conditions have proven difficult. Events such as the dramatic collapse of LUNA/UST have demonstrated that even the biggest projects are not immune from sudden failure.

How has MOR fared during the recent market downturn? In short, MOR thrives in bear markets, and this was no exception. The surplus grows faster and users had more than enough stablecoins available to redeem their MOR at peg.

Within the Fantom ecosystem we have in recent weeks witnessed competing projects either lurch into full-on crisis mode or fail altogether. However, at Growth DeFi that simply hasn’t been the case. Whilst we have no direct control over the price of $GRO, the launch of products such as MOR borrowing and cLQDR — with clear, quantifiable returns to the ecosystem and profits distributed to our token holders — demonstrates we’re building with innovation and sustainability at our core, and a long-term growth mindset.

See our recent article about MOR and why it has been one of the best performing stablecoins, not only on Fantom, but on BNB Chain and Avalanche as well.

Other projects may burn out and fade away, but Growth DeFi is here to stay.

For more information about cLQDR, visit the LiquidDriver cLQDR Discord channel. For more info on Growth DeFi or MOR, please see our main website or MOR Protocol, visit our Linktree, read our docs, or stop by our Telegram channel to chat with our team.