We're pleased to announce that Gro is live in Argent! Gro helps you to easily earn yield on your stablecoins.
Gro does the heavylifting of "yield farming" for you. This means it deploys assets across various DeFi protocols and earns a return from a combination of exchange fees, interest from lending, and token incentives.
A key feature of Gro is that it lets you choose which risk and return profile is best for you: higher yields and higher risk, or lower yields and lower risk.
All you have to do is pick an approach and then sit back and relax.
We're excited that this is the first time that Gro's been publicly available, following a closed beta period. It does mean, however, that Gro isn't yet as battle-tested as others in the Invest tab in Argent (e.g. Aave). We've featured Gro as it simplifies DeFi for both advanced and newer users. And we'd love your feedback on us sharing a new project with you.
What Gro offers in Argent
1. Vault - Leveraged Yield (higher risk & return)
Gro Vault uses various stablecoin yield farming strategies across DeFi.
It has higher potential returns, but with greater smart contract and stablecoin risk.
Gro Vault benefits from some of the yield of PWRD users, in return for covering them in the event of a protocol loss.
2. PWRD Savings (lower risk & return)
PWRD Savings is both a way to save and a stablecoin. It has lower yields than Gro Vault but, on the other hand, offers deposit protection.
If something were to happen to either the Gro protocol or the underlying DeFi protocols, assets from Gro Vault would be used to cover PWRD users first.
Yield accrues continuously and directly to your wallet.
How to use Gro in Argent
- Tap 'Invest' in Argent
- Tap 'Gro'
- Choose between Vault and PWRD (you'll need USDC, DAI or USDT for both)
- Tap 'Buy Investment'
- Select amount (& confirm you're happy with the network fee)
- Simply select the asset in Argent and tap 'Sell'
- You can withdraw at any time.
- You'll receive your assets in DAI
- Neither PWRD or Vault charge performance fees.
- Gro has a 0.5% withdrawal fee that it distributes to remaining Gro users.
- There are network fees (gas) for both.
Gro is led by a team with experience at leading fintech apps. It's raised $7.1m in funding from crypto-native and traditional VCs, including Northzone, Variant and 3AC.
As mentioned, Gro is even earlier stage than many of the protocols in the 'Invest' tab in Argent. It was founded in August 2020. Gro has undergone several security audits but has smart contract and economic risks, as do the various DeFi protocols that it deploys assets with. Stablecoins themselves face regulatory, security and economic risk.
You could lose some or all of your deposit, and should be aware that crypto is highly volatile.
Where does the yield come from?
- Interest from lending protocols, e.g. Aave
- Trading fees from DEXs, e.g. Uniswap
- Token incentives from DeFi protocols to their users
Where can I find more details on each product?
The composition of the two products can be found at:
How can I check my returns?
Get started with Argent here.
If you have any questions you can find us at:
*This should go without saying but in case it doesn't: we are NOT a bank 🙄. We are not a regulated financial entity.