The latest entry to the Avalanche ecosystem, Growth DeFi has announced a cross-chain integration to expand its MOR and WHEAT protocols. The move will provide more liquidity and capital efficiency across its offerings, including the GRO, WHEAT, and MOR tokens. With this announcement, Growth DeFi will expand its scope of operation and help to onboard more users to the platform.
GRO is the governance token used within Growth DeFi while WHEAT is the incentives token and MOR is the overcollateralized stablecoin operating in its ecosystem offering with yielding collaterals. MOR users are charged performance fees on MOR’s collateral vaults, earning WHEAT holders revenues in the ecosystem.
As part of the upcoming integration, Growth DeFi teamed up with one of the biggest DeFi projects on Avalanche,Trader Joe, to offer users several opportunities to earn higher rewards and incentives on their AVAX and JOE holdings. JOE can be used as collateral and give users up to three times leverage on pairs like AVAX/USDC to maximize yield farming returns. Growth DeFi’s partnership with Trader Joe will not only offer the benefit of vastly boosting trading volume using MOR but will enable Growth DeFi to become one of Trader Joe’s largest users. The partnership will see MOR’s Peg-Stability Module (PSM) funds held in USDC.e deposited into Banker Joe to earn more yields and enable MOR’s self-repaying loan system.
In addition, Growth DeFi is offering hybrid bridges to WHEAT for enabling cross-chain DeFi capabilities on the Avalanche network, helping its holders generate higher levels of revenue and boosting the value of the overall protocol as well. WHEAT’s Exponential Buyback Collector (EBC) works by buying revenue-generating assets which are then locked up in smart contracts and uses the revenue generated to keep buying back WHEAT and burning it to boost its value.
Once integrated with the Avalanche blockchain, users can deposit Trader Joe’s native token JOE to mint MOR tokens on Growth DeFi, giving WHEAT a percentage of AVAX and JOE harvested in each transaction. The AVAX then powers WHEAT’s AVAX EBC while the JOE goes on to be converted into multiple EBCS, earning more rewards via swap fees, lending income and incentives which are then used for compounding within the EBC and to increase liquidity in WHEAT/AVAX and WHEAT/MOR pairs.
