Aug 4, 2021
GROW Team Simplifies Participation, Adds Rewards, Through Liquidity Migration
The cannabis industry has continued to explode in recent months, as increased legalization procedures have brought greater attention. All categories of the industry, including sales, CBD production, and public opinion have continued to grow exponentially. Per Cowen analyst Vivian Azer, the industry is set to grow to $85 billion by 2030.
With this growth in the bag, and the massive influx of capital into blockchain technology, its no wonder that the GROW ecosystem has seen rapid expansion as well. This recent growth in the GROW platform, and particularly the gamification of the industry, has led to some substantial increases in participation in the Cannaverse.
In an effort to simplify participation, the GROW team has taken the substantial step to migrate liquidity away from the BNB token and Pancake Swap to the USDC token with Quickswap. The main benefit to participants on the GROW network will be simplicity.
The Grow House is built natively on Polygon, and as the charting tools and exchanges mature on the Polygon system, it makes sense to migrate liquidity into USDC. This will allow GROWers to play, participate, and earn GROW without being forced to utilize a bridge, and removes a critical barrier of entry for new participants.
Additionally, this liquidity migration has allowed the GROW team to provide liquidity rewards to participants. As loyal GROWers continue participating in the ecosystem and creating increased liquidity in the GROW<>USDC trading pair through Quickswap, they will earn GROW tokens as rewards.
Loyal GROWers have been requesting some type of reward structure, and the move to Quickswap allows for a seamless transition into this space. Already benefiting from the migration, users will now receive a double benefit — simplicity and rewards.
According to GROW’s Chief Cannabis Advisor, Branden Hampton, “We continue to GROW out the Cannaverse which is built on the Polygon blockchain, the team has decided to rotate liquidity to the one of the biggest and most trusted exchanges on Polygon, Quickswap.
“Additionally, we have also decided to rotate the liquidity pairing away from a volatile asset (BNB) to a stable USDC asset. Over 30% of the volume on Quickswap are USDC pairs, so not only will this pairing provide more stability to the GROW token, but it will also expose it to considerable volume.
“Lastly, an announcement that we are very excited about is the opportunity to provide liquidity rewards to our community with this change, this system is simple: help provide additional liquidity to the GROW<>USDC pair on Quickswap, earn more $GROW!”
The future of the cannabis industry and blockchain technology is bright, and GROW offers fun and innovative ways to participate. For those seeking more information, please consider the whitepaper for GROW, and users can already access the the alpha version of the Cannaverse.
