It’s been over a month since the Growdrop Open Beta was released. In commemoration of the Open Beta release, we will be releasing 60 Compound ETH (cETH) from February 10 to March 16 to make the DeFi project and Growdrop more fun for users!
Growdrop will be divided into two rounds, with 30 cETH Growdrop for each round.
Round 1: February 10 to February 26 13:00 (GMT + 9)
Round 2: February 27 to March 16 13:00 (GMT + 9)
Interest(Fund) Token:DAI
We look forward to Growdrop tokens for more DeFi and open source projects in the future.
What is cTokens?
Compound created cTokens to simplify the process of earning interest from their cryptocurrency lending markets.
cTokens act as proof of ownership for funds contributed to a Compound lending pool. To create a cToken, simply supply a lending pool on Compound with supported tokens and you will mint new cTokens in return. You can also exchange cTokens for the tokens they represent at any time. In addition, cToken can freely realize simple transactions.
Tokens Supported by Compound: Compound currently has lending markets for ETH, SAI, DAI, USDC, REP, ZRX, WBTC, and BAT. Below, you can see the current rates available for these tokens.
The interest calculation method for a compound is calculated each time you create an Ethereum block and depends on the state of the Ethereum network.
How to get cETH
This demo will show you how to fund / refund Growdrop and how to get your project tokens by withdrawing the principal at the end of Growdrop funding period.
Supporters can do the following in Growdrop:
1.Connect your wallet (Metamask)
2.Approve your account
3.Fund your DAI
4.Additional funds and refunds may be made at any time during the funding period.
5.At the end of the funding period, you will also receive cETH when you withdraw the principal.
*The number of cETH you receive depends on how much interest you contributed to the project. For example, let’s assume that the total interest generated in this Growdrop is 100 DAI. If Bob generates 10 DAI of interest, Bob will get a 10% share of the cDAI.
To check your cETH in your wallet, enter the token contract address in the Add Token in Metamask!Or you can check it in Compound UI.
cETH token contract address: 0x4ddc2d193948926d02f9b1fe9e1daa0718270ed5
What is Growdrop?
What we think so far is that the cost of trust in financing is very high. It’s expensive, so you pay a lot of money to maintain all sorts of unnecessary surveillance systems. Growdrop is a crowdfunding solution that minimizes the trust costs of existing third parties, deposits investment funds into Compound liquidity pool, contributing interest to open source projects and ensuring investor principal.
Growdrop enables the implementation of a no-loss open source token (ERC-20) project fundraising and donation model. If the initial token project is not listed or there is no use, the token from Growdrop can be added to uniswap to set the listing and price.
About Growdrop Community
If you have any questions about Growdrop, please come to the Discord & Telegram channel! Follow the official account for the latest news on Growdrop.
Twitter: https://twitter.com/Grow_drop
Telegram: https://t.me/Growdrop
Discord: https://discord.gg/zWd38ay
