My thoughts + financial NFT integration within DEFI and GRO DAO PROTOCOL

I see many platforms with exchange like options. As i look at the current vision, I see a savings account with Financial tools that provide interest bearing returns with a longer term approach. This may not appeal to most people in the Defi space until a bear market presents. Most users are on pace for the “fast money”. As GRO D Prot continues to expand, id like to see a few things.

  1. Simplified pool-pool swaps that eliminate steps. Allows capital to rotate from one financial tool to the next with the click of a button. (“one click concept”)
  2. The ability to integrate US dollars/USDC/MIM/Stable coin directly into any pool allocation without having to exchange for assets and pool together. (“one click concept”)
  3. The ability to borrow against a PWRD at an attractive interest rate.

Im reading about the concept of fNFT. The ability to wrap pools of liquidity and offer to the market as a tool. Zoracles is doing this, they also back this with a credit score concept. I dont understand the minute details yet. Very young concept it seems. Would it be possible to use zoracles as a tool with GRO DAO prot to integrate liquidity swaps and collateral loans against staked PWRD?

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Hey thank you for the suggestions you’ve raised in Discord :slight_smile: Wanted to capture the discussion here so the discussion isn’t lost in the chat! @chocoblocko @Slacking

Pool-pool swaps - swapping from one LP to another LP pool:

  • We want to avoid users having an “exit pool, exit protocol” mindset by making pool switching easier & less gas-intensive
  • Idea: gas refund when switching between products or pools (considerations: may encourage capital to chase the highest APY pools and cause instability) @chocoblocko
  • Idea: roll-up system within the protocol system with trade-off in transaction time (considerations: not sure if it could be done on L1 without going off-chain) @Slacking
  • Idea: built-in swap within the protocol for GVT/PWRD to capture 0.5% hodl fee while making the conversion easier to do @Slacking

Ability to integrate USD/USDC/MIM/other stables directly into any pool allocation without having to exchange for assets and pool together – it’d be handy to be able to bundle the transactions in one-click (e.g., if you start with $10K USDC and want to get into GRO/USDC pool, you’d only need one click to swap half to GRO, provide 50/50 liquidity on Uniswap, then stake in Gro Pool) :star_struck: Before I get too ahead of myself, is this what you’re referring to or was it something else?

Ability to borrow against PWRD at attractive interest rate

  • @0xJonan suggested Abra could be a good one to look into; other ones that could be useful would be Aave, Compound, MakerDAO, etc
  • One thing about PWRD is that it’s a rebasing token, so the platforms in question need to support rebasing in order to accurately reflect the PWRD balance.
  • We’ve shown from the unfortunate CREAM incident that PWRD can protect user funds and retains value, which should help make the case for making it a great collateral! As @Slacking pointed out that we need to do more simulations on how it’d work if PWRD is used as a collateral for several times (“looping”), but I’m hopeful we can make PWRD more accessible in such use cases.

fNFT where an NFT represents Gro’s staked positions could be quite interesting - at the moment the staked pool positions and GRO rewards earned cannot be transferred to another wallet; to make them work as a collateral I imagine we’ll need to make them transferrable first. But PWRD wouldn’t have the same issue (as in PWRD is freely transferrable in its original form).

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