Introducing G2
Gro unveils G2 –– its new architecture that comes with higher security, easier-to-farm yields, and better composability. Learn more about how Gro’s v2 protocol looks today and how you can use and build on top of it!
Secure
DeFi is still early. There’s no silver bullet bringing 100% certainty that a protocol has zero vulnerability – not even smart contract audits can guarantee safety. It takes many steps together to offer an as-secure-as-possible product to users, starting from architecture design.
This is exactly what G2 did. Gro’s revamped architecture created a much-simplified structure that modularises each of the Vault strategies, tranching, and asset pricing components. Each module is designed to be able to function on its own. This creates far fewer dependencies that may create unintended consequences, which in turn increases security. “Less is more” indeed.
Even though audits aren’t silver bullets, they are still an essential step before launch! G2 went through 3 rounds of smart contract audits over the past few months. Developers have also acted upon their recommendations to improve the code base after each audit. You can review the latest audit report from Fixed Point Solutions (Kurt Barry) and the from Trail of Bits and from yAcademy.
Security is not an one-off effort. Moving forward Gro’s $1,000,000 bug bounty on Immunefi will continue and cover G2. Hop over to the bug bounty page and check out our new smart contracts to see if you can find any bugs!
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Better and different yields
As the developers were heads-down building G2, we had a chance to talk with over a dozen users to better understand their needs. Many of you shared that the bear market has made you hesitate in deploying capital given how much market volatility there has been. That means sitting on stablecoins that may or may not need to go into capturing a market opportunity anytime soon.
If that sounds like you, you’d be glad to know that G2 removed the 0.5% withdrawal fees for both PWRD and Vault. This simplifies calculation of expected yield when you ponder how much yield you’d get from putting stablecoins into Gro – the only fees are the 5% performance fees on the yield generated. Without a withdrawal fee, the only “breakeven” consideration is whether your yield will exceed gas cost, which is true for any and all on-chain interactions!
That is not all. Easy-to-farm yields are not only less costly but also more predictable. This is why PWRD is now a fixed-yield product. In a world that keeps changing, you’ve shared that it’s good to have something stay constant. Instead of having a varied yield that goes up and down in every harvest, PWRD will now initially see its yield fixed at 2% (before any GRO incentives). This fixed level can change by governance based on the broader DeFi environment.
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Composable
Bear market is the best time to build, but it doesn’t mean we have to build everything from scratch. DeFi has always been built on the premise of composability so we can build on top of each other (hence “money lego”!).
G2 aims for any ERC-4626 standard vault token to make use of our infrastructure. This means a user can use Gro’s infrastructure to tranche any tokenized vault, once the deposit and withdrawal flows are built out to convert stablecoins from users to any vault tokens. The first vault token already supported is 3CRV as most of the strategies used so far are Curve metapools. After launch the Groda and FiRST pod might propose to expand the strategies to include FRAX BP metapool and continue to increase the vault assets supported when converting user funds into and from vault assets.
There will not be any smart contract block. In the first version of Gro protocol, a smart contract block was put in place as a safety mechanism to protect against flash loan attacks. This resulted in a need to whitelist smart contracts for transactions to go through. With G2s improved security model, this smart contract blocker is no longer needed. That means all wallets are free to transact with Gro’s smart contracts –– that include smart contract wallets like Gnosis Safe (hello DAO treasuries!).
You can start building on top of G2 today. With the launch of Gro’s new architecture, its Github is also opened for all to explore. Check out the github repository to get familiar with the code base and suggest changes you’d like to make for Gro to grow further!
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The new architecture of Gro’s yield and risk tranching protocol has laid the foundation for Gro protocol to become a building block for builders to tranche whatever yield token they want. As the space matures, it needs tools for empowering more users to find and even build their own products in DeFi.
Gro aims to continue filling the gaps in DeFi. With a now fully decentralized structure, you can join the journey in innovating more tools for different users and use cases. Hit up one of the facilitators in Discord and learn more about how you can help build right away 