Gro Protocol Decentralises Harvests with Gelato Ops
Gro Protocol has been committed to decentralisation from Day 1. Gro DAO was formed by early users before the governance token was launched and distributed in September 2021. Since then, Gro DAO members came together to vote for changes on its stablecoin products, governance rules, operational budget, liquidity partnership, and more. But Gro recognizes that decentralisation takes more than votes. Its protocol operations must gradually become independent so that it can fully empower everyone to easily create and share wealth.
With that, we’re very pleased to announce that Gro Protocol has integrated Gelato’s automation under the hood and will be using its technology to automate harvesting of stablecoin strategies to deliver the best returns to its users. In the past few weeks, Gro has worked with Gelato Network to automate and decentralise harvesting of its DAI vault on Ethereum mainnet. This paves the way for further decentralisation in Gro’s day-to-day protocol operations, empowering contributors to build on top of each other and grow Gro together.
By using Gelato Ops, smart contract operations for Gro’s day-to-day harvests is 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.
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!
Some may wonder why it is important to take steps in this direction. While Gro strives to abstract away DeFi complexity or manual operations for our users, it’s paramount to retain the high transparency as it is a cornerstone to DeFi. That’s why Gro protocol is devoted to making our data transparent and accessible for all users. The informative yield strategy and capital exposure dashboard on our dApp is a prime example — and we’re glad that our decentralised harvest operations now joins the party.
The DAI vault is only our first step in working with Gelato. We will continue decentralising other vaults’ harvests and explore other use cases. As Gro expands to other scaling chains beyond Ethereum mainnet and zkSync through Argent wallet, we are optimistic that there will be more collaboration opportunities to come. Stay tuned!
About Gelato Network
Gelato Network is Web3’s premier automation network, enabling developers to automate a wide variety of arbitrary smart contract executions on and across all EVM-based compatible blockchains such as Ethereum. Examples of use cases developers have built on top of Gelato include Limit Orders on AMMs like Uniswap, automatic compounding of yield farming vaults, Aave liquidation protection, MakerDAO debt ceiling updates, automated liquidity management, and even the petting of Aavegotchis. Its ultimate goal is to automate everything and by giving developers the reliable tools they need to do this, we can empower their users to get the most out of their Web3 experience.
About Gro
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. Its ultimate goal is to empower everyone to easily create and share wealth through combining the best of DeFi and traditional finance. Unlike other protocols, Gro does not only chase after the highest yields but places great emphasis on making its offerings safe and secure through a robust yield selection framework, integration with Chainlink, extensive audits, and a $1,000,000 bug bounty on Immunefi.
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