- Decentralized supporters significantly helped in fundraising.
- Returning DeFi to the masses via $GRAIN.
What is Granary Finance?
Granary Finance is a user-driven, decentralized liquidity market for borrowing and lending, inspired by Aave, an open-source liquidity platform. Granary Finance is managed by Byte Masons, an innovation collective that specializes in establishing secure and dependable smart contract infrastructure. Granary, which began to take form over a year ago, was created as a DeFi alternative to traditional and centralized crypto lenders.
The debt liquidity crisis that seized yield-bearing tokens and lenders in the first half of 2022 brought down a number of once-powerful organizations, including Celsius and Voyager, last year. The Granary developers classify the fundraiser as a “liquidity generation event.” (LGE).
An LGE employs a smart contract that accumulates various kinds of tokens over a predetermined time period. The accumulated funds are used to establish a new liquidity pool once the timer expires. It is intended to facilitate the forthcoming introduction of the governance token for Granary.
Why is Granary Important ?
Granary is poised to become a key innovator in the DeFi space, governed and driven by community with a strong presence on different networks, robust liquidation infrastructure, and an impeccable record of success through the most tumultuous periods in crypto history.
Users can contribute funds in exchange for a portion of the initial supply of $GRAIN in circulation: 12.5%, or 100,000,000 tokens. Moreover, users can receive an incentive of up to 60% by receiving their shares over a period of up to 5 years.
At the conclusion of the fair launch, contributed funds will be deposited into liquidity pools so that Granary can begin creating yield opportunities on different networks it is operating on, with each $GRAIN incentive proportional to the volume raised on the network.
Reason behind Contribution to Granary?
The team’s establishment of a number of NFT and DeFi initiatives with discounted terms on their protocol investments was a significant factor in Granary quickly reaching its funding goal, according to Granary developers and an online overview of the funding process.
The team stated in the outline that a wallet with an “associated NFT” must be connected to Granary’s ecosystem in order to receive the discount on protocol shares.
Granary’s LGE offers vesting periods ranging from immediate liquidity to twenty quarters, with correspondingly variable yield terms. A benefit is allocated to vesting periods that are lengthier.
Granary is focused on expanding the addressable market for DeFi lending in the short term. Granary’s unique architecture that enables direct, permissionless lending to external protocols can nearly tenfold DeFi lending revenue.
Granary can establish a more stable, non-inflationary incentive structure for users by repurchasing $GRAIN with these revenues.
The Granary team intends to create on-chain credit, treasury management tools, algorithmic risk management, and even debit cards supported by Granary deposits in the future.