Gro DAO Join Hands With Argent to Release zkSync Layer 2

• Gro’s clients will be getting the advantages of swift transactions at a cost that will be equal to a fraction of the gas fee of Ethereum.
• The clients will be allowed to take part in the yield farming wholly through their cell phones at a considerably low gas fee.
• The benefits can be experienced by the users from within the mobile DeFi application of Argent, where the zkSync Layer 2 is supported now.

The Grand Launch

It was announced by the Gro DAO that it would be launching its Layer 2 platform as a part of joining hands with Argent. The launch will enable Gro users to make a yield to get advantages from the swift transactions, at a cost equal to just a fraction of the Ethereum gas fee, all from inside the mobile application of Argent. Furthermore, the move extends Argent and Gro’s collaboration, where both the organizations are concentrating towards developing robust but straightforward and extremely secured DeFi items.

Collaboration of Gro with Argent initiated back in August 2021, when it was among 10 Decentralized Finance protocols; besides, Uniswap, Compound, Yearn, and others, to be featured in the Argent Application. That is why Gro is embellished as one of the stablecoin yield alternatives on Argent, enabling the accessibility of the clients to Gro’s Vault product through the Argent apps just with a few taps.

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Since then, as a way of reducing the transaction fees, Argent is also seeking ways to combine support for zkSync Layer 2. Now the latest version of the wallet assisting zkSync is being released by Argent, the collaboration will enable the users to get accessibility to Gro Vault on zkSync through the wallet of Argent and experience the reduced fee transactions.

Founder of Gro, Hannes Graah, stated that it is delightful for them to provide the Gro clients the opportunity for swift transactions with a reduced fee. Higher fees of transactions have prevented the ones with small-scale wallets, so enabling the individuals to take part in DeFi with lesser costs is essential for platforms like Gro to stay public and available to all.

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Argent was released in 2018 in order to make Web3 more safe and uncomplicated. The recurring issue of seed phrasing has been removed, and now, via working with zkSync, transaction fees have been reduced significantly. Gro shares the perspective to make Web3 and DeFi more available, and now even the minor wallet holders will gain an advantage from it. It is a significant step ahead for DeFi’s monetary inclusion.

ZkSync is a scaling solution based on Layer 2 for intensifying the experience of users, offering swift and inexpensive transactions as compared to the blockchain of Ethereum. Zero-knowledge proofs are utilized by zkSyncs to shift the activity of blockchain off the platform of Layer 1, and in this case, it’s Ethereum, while upkeeping the security and main chain’s decisiveness.

Several initiatives have been perpetrated by Gro lately for increasing the Web3 and DeFi’s access to the users to promote intensified decentralization and its inclusion across its activities. This involves the making of an authentic token for voting to release the Gro DAO as well as a decentralized marketing team. ZkSync’s introduction through Argent is the further perpetration to these objectives by descending the costs of transactions to shape Gro more alluring to even the minor wallet holders, promoting monetary inclusion.

The clients can receive the benefits from reduced fees while utilizing Gro on zkSyncs by utilizing the protocol through the Argent App. Once the application is downloaded from Apple or Play Store, users can easily make an account, add funds in cryptocurrency or fiat currency, and start utilizing Vault, the flagship leveraged yield product of Gro.

What is Gro?

Gro is a DeFi protocol providing secured and leveraged stablecoin yields via risk tranching. Labs, Vault, and PWRD, are the products offered by Gro. Automated portfolio of stablecoin yield plans are utilized by the protocol of Gro to keep the balance of yield against risk. PWRD clients are safe from the loss by the users of the Vault. In consideration of the elevated risk, Vault lay hold of PWRD’s leveraged share of the protocol. As the core concentration of Gro is almost wholly towards stablecoins, the buoyancy of market price is pruned, even in the products bearing higher risks.

Gro is supported by investors involving Three Arrows Capital, Variant Fund, Framework Ventures, Galaxy Digital, and many more.