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Gro Protocol Opens Up to the Public and Prepares To Establish the Gro DAO With Its Governance Token

by Press Release
September 7, 2021
in Industry Announcements


Following the early closed beta stage that helped to test and iterate the product during its early stages of development, Gro, the leveraged yield farming and protected savings protocol, has opened up to the public. This was initially via an integration with Argent wallet, followed by access through direct interaction with the Gro web DApp.

With a sophisticated crypto investor base including Galaxy, Variant and Framework, Gro has two protection mechanisms that offer high levels of safety to both institutional and retail customers, alongside high base yields to ensure a return on assets.

Gro’s financial products, PWRD and Vault, are targeted at organizations (protocol DAOs, funds or any companies in the crypto space) and individuals who are holding stablecoins and are looking for protected and diversified yield.

The asset diversification comes from the Risk Balancer, which ensures that Gro strategies are not overly exposed to any individual stablecoin or protocol. Risk Balancer integrates with Gro protocol’s deposit and withdrawal mechanisms to enable decentralized and user-driven portfolio rebalancing. This allows the protocol to autonomously maintain a balanced exposure, spreading risk between tried-and-tested stablecoins and protocols.

Gro DAO establishment

Gro protocol will be organized and run as a decentralized autonomous organization (DAO). This follows the lead of recent notable DeFi institutions such as Balancer, Lido and Synthetix that are each on the path to full decentralization. As a relatively young protocol, Gro intends to go straight to the end-point on this journey, without establishing a traditional corporate entity in between.

The Gro team has made its priority to launch $GRO in a way that is fair to all users, distributes the token into the hands of as many users as possible, and sets Gro DAO token holders up for long-term success. After much deliberation, it was decided to propose to the Gro DAO a fair token launch (Balancer LBP) from September 22nd to September 25th.

Balancer liquidity bootstrapping pools (LBP) are a special type of liquidity pool that are ideal for distributing new tokens for a few reasons including fairness, open access, price discovery mechanism and broad distribution.

The DAO will be formed on the launch of the GRO governance token. Voting in the DAO will correspond to $GRO token holdings. All $GRO holders will have a vote in the DAO which will be via Snapshot at first, then moving further on-chain as governance mechanics mature. There will be a formal proposal to the DAO, including the different technical parameters of the LBP (starting price, pool weights, etc). The vote will be taken prior to the proposed LBP date, and if the vote is successful then the LBP will go ahead as proposed.

To learn more, go to app.gro.xyz or to Gro’s official social media pages on Discord, Twitter or Telegram.

This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.


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