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/biz/ - Business & Finance

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24777257 No.24777257 [Reply] [Original]

Team started as a couple people working 12 hour shifts to stay on top of the market at all times and make sick gains.

NOW THEY'RE MAKING A FUCKING DEFI ECOSYSTEM JUST SO THEY CAN GO TO MARS OFF THE MAGIC OF COMPOUND INTEREST AND OTHER DEFI BULLSHIT I DONT UNDERSTAND LIKE LEVERAGED LENDING

Get in now or be pic in 6 months when you see it in the top 100 on CMC and remember this thread

NFA DYOR BUT FR DONT BE A SMOOTH BRAIN CHECK IT OUT WE'RE ALL GOING TO MAKE IT YOU GOYS

>> No.24777697
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24777697

GRO if I wasn't clear enough in the OP. Any questions or just want to flame me go ahead, pic related is a family photo just got lucky with this one is all so don't expect good answers about anything

>> No.24777848
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24777848

GRO? Whats the circ supply? Where to buy?

>> No.24777855

>>24777697
wp says they built on AAVE on Compound, why would anyone buy the native token ?

>> No.24778221

>>24777848
Circulating supply is around 148k but 58k is staked, staked Gro is used for voting in the DAO. There's a hefty stake/unstake burn to protect the DAO from bad actors. 1m was the original max supply but burns are stronk. Mooniswap to buyyy

>> No.24778222

Seems they leverage the minting to get extra, also have PMTs

>> No.24778326

>>24777697
how's uncle Grug doing?

>> No.24778435

>>24778221
59.1k staked now.. can't be much left after the LPs

>> No.24779095

>>24777855
To participate in DAO you have to stake, staking/unstaking burns 5% each way(+5% distribution), this alone adds upward pressure

Gtokens charge a 1% mint/redeem fee, and no other fees. This also goes to build the ecosystem/gro price. In addition it allows for APY rates that aren't cut into by recurring fees, just mint & hold gTokens and they will automatically compound and move between protocols (compound, aave, etc) as needed to insure highest rated possible, without charging any extra fees to hodlers of gtokens

There are 10% fee gro/gtokens pairs on balancer so this also increases gro's price as the initial liquidity and it's profits won't be used to lower the price in any way

I'm sure there's more but this is off the top of my head

>> No.24779299

I thought this shit also does arbing or something to increase value?

>> No.24779335

>>24779095
The balancer pools are cool because the "price" of gtokens go upward as the gtokens accumulates more assets(as opposed to giving the user more if the gtokens, you keep the same amount but they can be redeemed for more of the underlying asset: eth for gETH, wbtc for gWBTC, etc) so as time passes arbitrage will have to happen, generating extra value for the gro token