[ARCHIVED] Partner with Gro Protocol on Treasury Management

Hello BitDAO!

This is Tims Chan. I’ve been an avid Defi investor since 2 years ago and have seen many projects crash while some others flourish. I’ve been following your project for quite a while, and I do think that it is very promising because you guys are focused on creating a healthy DAO with a purpose of supporting and growing the DeFi environment.

I believe that the only way to evolve and bring DeFi to the next level is through partnerships. I have been working alongside an awesome project called GRO protocol and strongly believe that you guys will make great partners.

Proposal:
BitDAO currently has about 156million in stablecoins and 2 billion in native coins. We would like to propose helping you manage part of BitDAO’s treasury stable coins through our risk-tranched stablecoin PWRD. This would provide deposit protection while generating yield. Our goal is to make it work like an FDIC protected account but in the DeFi-sphere.

Benefits:

Protection for the stablecoins in your treasury from high-impact tail risks like failure of a major stablecoin or protocol exploitation

  • GRO has a risk balancer mechanism that diversifies exposure to multiple stablecoins and protocols
  • GRO has a risk tranching solution, where Vault, our leveraged yield farming product, would absorb the loss for Treasury users if such a failure occurs

Grow your treasury. More funds = more credit for future endeavours

  • Generate healthy yields on your treasury stablecoin balance so the funds don’t stay idle until they’re deployed.
  • GRO is able to provide you with the best risk to reward ratio for yields. By employing risk tranching, we are able to provide you with healthy yields with almost zero risk.

Suggestion
We suggest the community of BitDAO to consider allocating a pilot deposit that amounts to 0.5% of your stablecoin treasury. You could decide to increase allocation later on after having confirmed that our treasury product meets your expectations.

We are more than happy to discuss more over the forum or during any community AMA session. We are committed to discuss how we can best help BitDAO best manage your treasury together.

Summary of GRO protocol:
Gro protocol is a stablecoin yield aggregator that tranches risk and yield through its PWRD stablecoin, which offers deposit protection, and Vault that provides leveraged yield farming. Our public beta was launched in mid-August 2021 following the announcement of our partnership with Argent. We have gone through three audits and currently host a Bug Bounty program with Immunefi. We are listed on Defillama and DeBank and have been integrated on Zapper.

Useful links
Homepage: http://www.gro.xyz
Medium: https://groprotocol.medium.com/

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Hi tims9101!

Apologies for getting back to you so late- really quite a busy month with the holiday season, and I suspect this has kept people from diving into research over these past few weeks.

From what I can tell, this would be a prudent move for the treasury- particularly with other proposals advocating for swaps with their respective stablecoins.

What I’m going to ask next is going to be a little awkward, however, so I’ll preface with an apology…

I very much appreciate the post-mortem provided by your team after the CREAM exploit. It’s thorough, and seems transparent. Ultimately, what was GRO’s final rate of recovery / level of compensation for those effected?

Thank you!