GrowFi, a DeFi research and Growdrop development company, is happy to announce a new collaboration with MakerDAO. This collaboration allows Growdrop to use Dai to realize a lossless token raising and donation model.
Introduction
Growdrop is a crowdfunding solution that minimizes the trust costs of existing third parties, deposits investment funds into DeFi Lending Protocol (e.g. DSR,Compound) liquidity pools, contributing interest to open source projects and ensuring investor principal. If the initial token project is not listed or there is no use, the token from Growdrop can be uploaded to uniswap to set the listing and price. You can do “uniswap create exchange & add liquidity pool” for a certain amount of tokens and interest to those who distribute to the Growdrop pool.
Growdrop supports not only token distribution but also donations. The Donation model is similar to the token distribution model, where supporters secure tokens in Growdrop so that the interest generated there is raised to the donated foundation. Supporters will receive ERC-721-based donation certificates and principals. This will help to realize a donating model that minimizes risk through principal guarantees.
Growdrop’s core asset is Dai. Collaborating with MakerDAO will provide open source token projects with more options and expand the Dai ecosystem. The mechanism using Dai in Growdrop is as follows:
Example: Mike, Ryan, and Bob can stake a crypto asset on a token project to offer interest and receive tokens in return. The token project sets a token amount of 100,000 tokens and one month of funding period when Growdrop distributes smart contracts. Mike sends 300,000 DAI, Ryan sends 500,000 DAI, Bob sends 200,000 DAI to the Growdrop pool, and assumes that the Lending Protocol’s annual interest rate is 12% at that time. After one month of funding period, the accumulated interest is sent to the token project and tokens are paid to the supporter according to interest rate.(e.g.Mike get 300,000 DAI principal and 30,000 Tokens)
About MakerDAO
MakerDAO enables the generation of Dai, the world’s first unbiased currency and leading decentralized stablecoin. Dai eliminates volatility through an autonomous system of smart contracts called the Maker Protocol and decentralized community governance.
Launched in 2017, Dai has successfully maintained a soft peg to the US Dollar. With hundreds of partnerships and one of the strongest developer communities in the space, MakerDAO has become the engine of the Decentralized Finance (DeFi) movement. Maker is unlocking the power of the blockchain to deliver on the promise of economic empowerment today.
Website: www.makerdao.com
Twitter: www.twitter.com/MakerDAO
Telegram: https://t.me/makerdaoofficial
Kakaotalk: https://open.kakao.com/o/giWg6J2 password: maker
About GrowFi
The GrowFi team is a company developing DeFi research and DeFi projects. Our goal is to enable DeFi to expand financial inclusion, which has not been possible with centralized financing.
Our first project is Growdrop. Growdrop is to help fundraising a no-loss open source token project. Through Growdrop open source projects can get seed funding and form a community culture with supporters who are naturally valued rather than very expensive financing such as ICO and IEO. Growdrop is a new funding model. This makes Growdrop a new option for contributing to open source projects and breaking the vicious circle of financing.
Twitter: https://twitter.com/Grow_drop
Telegram: https://t.me/Growdrop
Discord: https://discord.gg/zWd38ay
Blog: https://medium.com/growfi
Website: https://dev.growdrop.io
