Introducing Growing Farm and GROW Token

Farming at Growing Farm to get GROW. Stake GROW to become PRO and Earn BNB

Growing.fi

Published in

GrowingFi

5 min readApr 25, 2021

Background

Growing.fi is a DeFi portfolio management tool on the Binance Smart Chain (BSC).

Since the launch in March 2021, Growing.fi have been used and loved by tens of thousands of yield farmers. We received a lot of love and feedbacks from our growing community. Among all feedbacks and feature requests, native smart contract integration for farming platforms is one of the most requested. It also aligns with our goal to become not only the dashboard but also the portal for DeFi.

Today, we are thrilled to announce the GROW token and our brand new product: Growing Farm!

GROW token 🌱

The Grow token (GROW) is a membership token, revenue earning token and governance token of Growing.fi eco system.

Stake GROW to become a Growing Pro member and earn BNB from the Growing Farm.

GROW Token address: 0x8CEF274596d334FFa10f8976a920DDC81ba6e29b

Growing Farm 👨‍🌾

The primary way to get the GROW token is farming at Growing Farm.

Inspired by PancakeBunny, Beefy and Autofarm. Growing Farms is yet another yield optimizer platform on BSC, focusing on providing auto-compounded yields by actively finding, auditing, and leveraging the best yield farming platforms through smart optimizing strategies. With the on-chain farm performance data we collected, Growing Farm stands in a superior position to provide best in class returns.

The smart contracts of Growing Farm is a remix of Sushi, Auto, Bunny and many other prior arts. We have tested them on BSC Testnet, Mainnet and other EVM compatible networks for a few weeks. However, they have not been audited yet. You are strongly suggested to read the source code of our smart contracts, and do please give us feedback if you find anything we can improve.

Github: https://github.com/growingfi

Farm Pool and Staking Pool

There will be 2 Pools during the Test Flight:

GROW Staking Pool
CAKE Pool with Swamp
[NEW] Grow BNB pool with Alpaca
[NEW] GROW-BNB LP pool

By stake your GROW token at GROW Staking Pool. You will be able to receive BNB as a reward. When you stake more than 1 GROW, the Growing Pro membership for your address will be activated. In the meantime, the staking earnings for this 1 GROW will be sent to Growing dev team.

For the amount above 1 GROW (or all of your staking if the total GROW you stake is smaller than 1 GROW), you will continuously get a dividend of the 30% of the profit from all Farm Pools with the share of GROW token you stake.

Stake CAKE at CAKE Pool with Swamp to Earn auto-compounded yields in CAKE plus rewards in GROW token.

30% of the profit earned through Farm Pools will be redistributed to the GROW Staking pool. In the meantime, you will get 3 GROW for each BNB contributed to the GROW Staking pool. (the ratio of GROW per BNB may get changed in the future)

Growing Pro

You need to stake 1 GROW token in the Pro Membership Contract to active the Growing Pro membership for your address.

With Growing Pro Membership, you will get:

Pro features at Growing Dashboard
Boosted Reward at Growing Farm
Pro Sale at IGO

Base on our current Pro boost multiplier (may get changed in the future), Pro members will get:

+20% Boost to Deposit Bonus (When regular Deposit Bonus is 0.01 GROW per BNB, Pro members get 0.012 GROW per BNB)
+10% Boost to Profit Reward

Tokenomics of the GROW Token

No Pre Mint. No VCs. No Pre Sale.

1/ Deposit Bonus

When the deposit bonus rate is 1x: for every 1 BNB equivalent value deposited, 0.01 GROW will be rewarded as Deposit Bonus. All Deposit Bonus will be locked for 3 days.

2/ Staking Reward

1000 GROW per week to All Farming Pools.

3/ Profit Reward

30% of the profit earned through Farming Pools will be converted to BNB and redistributed to GROW Staking pool when you claim the reward (before then, your CAKE and BNB will be auto-compounded).

For every newly minted GROW token, 0.1 GROW will be mint for Dev Fund.

Launching Phases

Test Flight starts now. Official launch in 3 days. DAO in 30 days.

Test Flight

GROW token and GROW farm will launch into Test Flight phase at UTC 16:00, 25th of April 2021.

Growing Farm will be available on the beta site only.

All contract’s Owner address will be transferred to Timelock.
Timelock contract delay will be set to 12 hours.
All changes to the contract will be announced via Telegram group at least 12-hours in advance.
Deposit Bonus rate will be set to 10X (0.1 GROW per BNB) for all Farming Pools. Deposit Bonus will be lock for 24 hours.
Staking Reward rate will be set to 500 GROW per week.
GROW price will be mocked at $99.99

Notice: We may need to retire these smart contracts and even the rewarded GROW token if severe issues being found during the Test Flight period. If that happens, we will find a way to compensate whoever participates in our Test Flight program and get affected.

No compensation will be made to any none-fund-loss issue. By fund, we mean user’s deposit.

Update: Small issue found during Test Flight. Official Launch time delayed. Details: https://medium.com/@GrowingFi/issue-found-at-cake-pool-small-issue-dont-panic-42e0bd59e94e

Update: The updated Growing Farm is now up online. With 2 upgraded pools and 2 newly added pools:

- [Upgraded] GROW Staking pool;
- [Upgraded] Grow CAKE pool with Swamp;
- [NEW] Grow BNB pool with Alpaca
- [NEW] GROW-BNB LP pool

Please withdraw from the retired GROW Staking Pool and CAKE pool and reinvest in the newly upgraded pools.

The deposit bonus lock time set to 48 hrs;

Updated contracts are now on our GitHub.

https://github.com/growingfi/contracts

Let’s do it for 3 more days. Official launch time set to 16:00 UTC, May 4th.

Official launch

After 3 days of Test Flight, the Growing Farm will be Official launched at 16:00 UTC, May 4th.

Growing Farm will be available on the main site.

Timelock contract delay will be increased to 24 hours.
All changes to the contract will be announced via Telegram group at least 24 hours in advance.
Deposit Bonus rate will be set to 1x (0.01 GROW per BNB) for GROW-BNB LP pool, and 0x (no deposit bonus) for all other Farming Pools. Deposit Bonus will be lock for 72 hours.
Staking Reward rate will be set to 1000 GROW per week.
GROW price will be fetched from PCS.

DAO

Timelock contract Delay will be increased to 48 hours.
All changes to the contract will be decided by DAO voting.