As Gro protocol opens up to more and more users, we are excited to share more details on our governance token the Gro DAO Token. GRO enables holders to be part of the future of Gro and participate in protocol decisions.
Gro is a protected stablecoin yield farming protocol. It balances allocation to the protocols and stablecoins it invests in, to prevent over-exposure. The protocol has a yield and risk tranching mechanism that allows users to choose from Vault, a higher risk product with higher yields, or PWRD Savings, a yield-bearing stablecoin which is protected by Vault funds (in the unlikely event of protocol or stablecoin failure).
Gro DAO Token (GRO)
GRO is Gro protocol’s governance token. It enables a deeper engagement with the protocol by opening up the ability to participate in governance and further stabilise the protocol.
Moving to a decentralised governance model is an important step on our roadmap, and we will reward active token holder participation. GRO holders can contribute and vote on a number of protocol decisions, in particular:
- Protocol roadmap: priorities and future projects
- Protocol parameters (including fees or funding rates)
- Yield strategies
GRO will be distributed as additional incentives for the community to provide liquidity through staking pools and various community engagement programs. They will be distributed through a mixture of programmatic on-chain activities and community oriented off-chain activities.
GRO will be used to improve the stability and security of the protocol through a combination of pool and governance mechanics. Users performing these services to the protocol may then earn additional rewards.
GRO Dao Token Allocation
The Gro DAO Token’s max supply is set to 100mn tokens. 45% of the tokens will be allocated for liquidity mining programs and community engagement activities, including 1% specifically for airdrops. Another 13% will go to the GRO DAO Treasury to be used for grants and the ongoing operations of the protocol. The remaining tokens will go to backers and core contributors.
Team, Advisor and Seed Investor vesting: 3 year vest with 1 year cliff
Inflation: Hard-coded at 0% during the first 3 years, then continues at 0% unless GRO token holders vote to change
We are delighted to see so many people in our community excited about what we are building at Gro, and want to make sure the GRO community is able to participate actively in protocol governance.
We are doing a series of community airdrops as part of the initial distribution, and are releasing more details in the coming weeks about other ways to acquire GRO.
We are grateful for all the feedback we’re receiving and would love to have you contribute to developing Gro Protocol. Join us on Discord and chip in your ideas in the “ideas-and-feedback” channel. We also now have dedicated channels for Russian and Mandarin speakers.
Last but not least, you can:
- follow us on Twitter;
- speak to us in our Discord;
- follow us on Instagram;
- chat to us on Telegram in our discussion group;
- join Gro Announcements channel on Telegram;
and finally, if you didn’t already, check out the Gro protocol app!
Note about safety: Please remember that DeFi is a very new space and while that’s exciting, there are risks involved. Make sure you do your own research and invest responsibly to avoid severe losses. Always exercise best security practices when it comes to wallet and private key management.