Growth DeFi reached a partnership with ApeSwap

New Cryptocurrency, Crypto Startups, IDO, IFO

Published on: 27.07.2021

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

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

For ApeSwap users:

Firstly welcome Apes to their community! You may wonder what this partnership offers you, and they 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

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 Growth DeFi 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!

Growth DeFi is 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: