Gro Protocol
Published in

Gro Protocol

Argent launches on zkSync with Gro as the leveraged yield partner

TLDR: The wait is finally over — Gro Vault is now available on Layer 2 in partnership with Argent and zkSync! This will allow you to access leveraged DeFi yields with low gas costs and high speed, all from your mobile.

We first announced our partnership with Argent in August 2021, when Gro became one of 10 partners to appear in the Argent app (alongside protocols including Yearn, Compound, Aave and Uniswap).

Since then, Argent has been working hard on Layer 2 using zkSync. This will allow you to access Gro for a fraction of the gas costs as before.

Gro is the leveraged yield partner for Argent, alongside Yearn who provides a non-leveraged option. You can access the Vault product straight out of the Argent app in a couple of clicks (right now PWRD is not included).

Vault is ideal for users with a higher risk tolerance but who don’t have time to manage funds on a daily basis. It is designed to be a long-term, high yield investment which requires no maintenance from the holder. The Risk Balancer autonomously manages the underlying investment portfolio and distributes yields, giving you the most diversified and simplest high-yield DeFi protocol.

What is Argent?

Argent is a mobile Ethereum wallet that makes access to Web3 easy.

It’s a non-custodial solution for digital money, assets and identities, combining sleek design with bulletproof security.

They protect more than $1bn with multi-signature transfers and no seed phrases, using social recovery and guardians together with biometric authentication.

The Argent mobile app offers direct access to 10 exchanges and several DeFi applications (including Gro), meaning you don’t need another wallet to access the world of DeFi — it’s available in both App Store and Google Play.

The app is super secure while being easy to use, and for many people is the simplest way to access DeFi as you don’t need to worry about seed phrases or web dApps.

What is zkSync?

zkSync is a Layer 2 scaling solution that offers cheaper and faster transactions than the main Ethereum blockchain (Layer 1). Layer 2 solutions move most activity away from Layer 1, while still inheriting its security and finality.

zkSync uses less gas than either Layer 1 transactions or ‘optimistic rollups’ (e.g. other Layer 2 solutions like Arbitrum or Optimism).

You can read more about it in Argent’s blog.

How to use Gro on zkSync with Argent

Using Gro is easy with Argent, and works directly from the Argent mobile app.

If you don’t have an Argent Account yet:

  1. Download the Argent mobile app either on the App Store or through Google Play
  2. Create your Argent account, which serves as your zkSync address
  3. Tap on “Assets” and then “Receive”.
  4. Add funds to your Argent wallet with fiat (bank transfer or payment card) or by depositing stablecoins from another Ethereum wallet — make sure you purchase stablecoins if you are using bank transfer or Apple Pay as in-app crypto trading is not enabled for zkSync yet.
  5. Tap “Invest”, pick one of the stablecoins and choose a Gro strategy 🎉

If you already have an Argent Account:

  1. Select “zkSync” and then “Claim your zkSync account”. Instructions on how to do it can be found here.
  2. Add funds to your Argent wallet with fiat (Apple pay, card or bank transfer), from another Ethereum wallet or from your Argent Vault.
  3. Tap “Invest”, pick one of the stablecoins and choose a Gro strategy 🎉

Get involved

Join our Discord if you have any questions and to give us feedback on what you like and don’t like! You can also access our app via a desktop browser at https://app.gro.xyz/ - you’ll need a MetaMask wallet for that.

Stay safe

We have partnered with Argent because of our shared focus on security. Gro has undergone several audits by Peckshield, Fixed Point Solutions and Code Arena and a $1mn bug bounty is currently live with Immunefi. However, DeFi is a very new space and while that’s exciting, there are risks involved. Make sure you do your own research and only supply assets that you can afford to lose. Always exercise best security practices when it comes to wallet and private key management.

Gro protocol is a stablecoin protocol where you can choose your risk level — learn more about our stablecoin products Vault, PWRD, and Labs in this blog!

Recommended from Medium

How to do an ICO — Step 4: TokenMetrics (aka, The Most Important Part)

Time to Indulge in the Benefits APPLE Tokens — The ICO Sale of APP is Live!

ZB Market Daily: ETH, NEO & CRV technical daily analysis

Announcing Metarun’s IDO on MoonStarter

Rollups or How to Improve Ethereum

Is it too late to get into Crypto?

Big News! Zenfuse Is Competing in the DeFi of Thrones Tournament

Decentralized Finance —  in a nut shell

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Gro

Gro

Empowering people to easily create and share wealth — with the best of DeFi and traditional finance

More from Medium

Gro partners with Olympus, Visor, and Fei/Ondo to deepen GRO liquidity

Fei Protocol: the L2 Playbook

The Leaders Taking Over Real-World Asset Finance

What is a DAO? (Degen Institute #1)