GRAIN Sale Heats up as Granary Finance's LGE Event Goes Live

by BSC News

March 21, 2023


As part of the LGE event, users can deposit/choose from a variety of assets, with different networks receiving 70% of the $GRAIN incentive supply based on contributor contributions.‍

$GRAIN Sale Launches on Six Chains

Cross-chain lending protocol Granary Finance has launched its native token, $GRAIN, through a fair-launch Liquidity Generation Event (LGE)

The $GRAIN LGE started on March 14 and would last for approximately two weeks from launch. The LGE began on Ethereum, Fantom, Optimism, Metis, Polygon, Binance, and Arbitrum.

Each network will have its own LGE contract that supports different tokens for contributions. These networks will receive 70 per cent of the $GRAIN incentive supply based on the amount of contributions made by contributors. 

It will be possible for users to choose from a variety of assets to deposit. However, it has been reported that users who use assets other than USDC will experience slippage.

$GRAIN Vesting

The LGE will distribute 12.5% of the $GRAIN supply based on user contributions proportionate to their contribution size and vesting terms. Those who choose to vest will receive their $GRAIN on a linear basis, distributed evenly every quarter for the duration of their vesting period.

When participating, users can choose a vesting period between 1 quarter and 20 quarters. There will be a larger discount for vesting periods that are longer. 

Users also have the option to enable an NFT discount by selecting an NFT from the gallery to receive a discount ranging from 2 - 7%. Further, the protocol will support staking with a Balancer Pool Token (BPT), which will feature 80% of $GRAIN and 20% of local gas.

Future Developments

Upon completion of the $GRAIN LGE, airdrop allocations will be determined by snap-shots taken over a 12-month period (03/20/2022 - 10/30/2022), weighted by age, length, and size of contributions.

In addition, $GRAIN will be put into liquidity pools on Balancer, Beethoven-X, Uniswap V3, and other decentralized exchanges based on the amount of $GRAIN allocated to the network. 

While Granary V2 is being developed, Granary Finance will continue to focus on key markets and co-incentivizing partners, with tokens being distributed sustainably proportional to fees.

As per protocol, once Granary V2 launches, Granary Finance will scale up incentivization strategies, with a portion of the rewards going to staking pools.

The Granary core contributors will own 11.1% of tokens vested for four years, with 4% reserved for hiring new talent. As of press time, Granary Finance has raised 407,352 USDC. You can learn more about Granary Finance here

What is Granary Finance:

Granary Finance is an AAVE-inspired decentralised, user-driven borrowing and lending liquidity market. The Granary team has created the first-ever multi-chain LGE to seed liquidity across chains on which Granary will operate. The team has also completed the development of Granary V2 and is currently testing and securing its systems.

Learn more about Granary Finance:

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