How Gro Uses Gelato Ops to Deliver the Best Returns to Its Users
Gelato ecosystem spotlight: Meet Gro, a stablecoin yield aggregator where you can choose your risk level.
Gro, a stablecoin yield aggregator, is on a mission to empower everyone to easily create and share their wealth by combining the best of decentralized and traditional finance. Earlier this month, Gro integrated Gelato’s automation under the hood, using its technology to automate the harvesting of stablecoin strategies to deliver the best returns to its users.
We spoke with the Gro team about their experience with Gelato and what’s next for Gro.
Tell us about Gro — what problem does Gro solve?
Gro Protocol aggregates stablecoin yields to provide easy-to-use products catered to different risk appetites with protected PWRD stablecoin, super-charged Vault, and automated Labs.
You don’t have to spend hours learning yield farming — Gro allocates all user funds into stablecoin yield farms for you and continuously adjusts to balance risks and yield. This means everyone, no matter how much they know about decentralized finance (DeFi), can access stablecoin yields easily without worrying that they don’t have the knowledge or time to learn properly. It also offers healthy and hands-off options for those with lower risk appetites to participate in DeFi.
While Gro aims to remove complexity from DeFi, it keeps the high transparency and ownership economy inherent in this space. Users can see where the funds are allocated on Gro dapp at any given time and suggest improvements in our community platforms. By committing funds into either single-sided staking or liquidity pools, users would also earn governance rights to help shape the future of the Gro protocol.
How do you use Gro?
It’s really easy to use Gro! First, you have to decide if you want more protection or higher yields in the Ethereum mainnet and pick accordingly — get PWRD stablecoin for protection or Vault for boosted yields. Once you make up your mind, you’d only have to deposit either USDC, USDT, or DAI — Gro will then take care of rebalancing among set yield strategies from blue-chip protocols such as Curve/Convex. Don’t forget to stake your PWRD or Vault to earn governance rights represented by the Gro DAO tokens (GRO)!
Wondering how PWRD and Vault work? Vault gets a higher yield by offering protection to PWRD against black swan events in our yield strategies (e.g., smart contract exploitation of a protocol or persistent stablecoin depegging). If any of these black swan events happen, Vault would absorb all the losses before PWRD gets hit; in other words, Vault needs to be completely wiped out for PWRD users to suffer any losses.
If Ethereum is not your cup of tea, you could also choose Labs, which automates leveraged yield farming on Avalanche. Labs offer high pure stablecoin yields with very low transaction costs. Simply deposit USDC.e, USDT.e, or DAI.e and let Labs do the rest. It generates yield through borrowing AVAX with your stablecoins, then pairs them up to provide liquidity on Trader Joe to earn both trading fees and governance tokens. By using Labs, you don’t have to do any of those operations manually nor monitor your positions day-to-day in a volatile market. Instead, Labs automates harvesting and removing liquidity when the time comes. Just sit back and relax!
How is Gro utilizing Gelato automation?
Gro Protocol has integrated Gelato’s automation to automate the harvesting of stablecoin strategies to deliver the best returns to its users. It uses Gelato Network to automate and decentralize harvesting of its DAI, USDC, and USDT vaults on the Ethereum mainnet.
By using Gelato Ops, smart contract operations for Gro’s day-to-day harvests are now automated. When profit accrued in the yield strategies hits a certain threshold, Gelato Ops automatically calls for harvests. All actions are displayed on Gelato’s app, where all users can easily access the underlying smart contracts and transactions in just a few clicks.
What are some of the main ways Gro is benefiting from Gelato?
Gelato helps pave the way for further decentralization in Gro’s day-to-day protocol operations, empowering contributors to build on top of each other and grow Gro together.
Gro also benefits from higher transparency. In the Gelato Ops interface, users can view Gro’s past harvests easily even if they are not technical or experienced in reading transaction data on Etherscan. In fact, every user can see how often the harvests are done and the associated gas costs in a quick glance!
Where will Gro go next?
Gro is actively working towards lowering transaction costs through exploring alternative Layer 1s and Ethereum Layer 2s, increasing risk-adjusted yields, removing access barriers to DeFi, and making sure our offerings are safe & secure. It will also continue decentralization to improve the governance and operations of its underlying DAO.
Find out more about Gro:
Website | Medium | Twitter | Discord | Docs | Youtube | Linktree
About Gelato Network
Gelato Network is web3’s automation network, enabling developers to automate & relay arbitrary smart contract executions on and across all EVM-based compatible blockchains such as Ethereum.
Gelato’s goal is to provide developers with a reliable, scalable & decentralized network to which they can outsource all of their web3 related DevOps operations.
Examples of which features are powered by Gelato include:
- Limit Orders on PancakeSwap
- Periodically updating debt ceilings on MakerDAO
- Offering users gasless token claims on Connext
- Automatically compounding yield farming vaults on Beefy Finance
- Automating the breeding of new digital racehorse NFTs on ZED RUN
- Rebasing of algorithmic stablecoins with Tomb Finance
- Updating price oracles on Abracadabra
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► Check out what we’ve been working on at https://www.gelato.network
► Automate your smart contracts at https://app.gelato.network/
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