Grove (GRV) Cryptocurrency
Grove (GRV) is an environmentally friendly crypto project. The main goal of the project is to create a healthy and prosperous future for humanity by solving environmental problems associated with cryptocurrency mining (for example, high energy consumption). In addition to this, they also want to use advanced technology to solve other pressing world problems, including hunger.
Grove is a proof-of-stake cryptocurrency built on Ethereum and Binance Smart Chain.
Grove is committed to creating an eco-friendly product ecosystem DeFi:
- GroveKeeper, a digital wallet with a focus on usability and security;
- GroveSwap, a decentralized exchange;
- GroveX is a centralized exchange, which at the time of writing has not been launched.
In addition, within GroveX there is a “GreenOasis” program, which is a support platform for other green crypto projects, helping them gain visibility through partnerships and support. According to the team, it is vital that more niche green initiatives gain traction. With all these initiatives, Grove wants to create a community for those crypto enthusiasts who also care about the environment. On its website, the team calls supporters the “green army.”
Despite the fact that the GRV token appeared quite recently, in January 2023, it is not a completely new project, the previous ticker was GVR. This change follows some significant changes to the platform, namely the introduction of GroveSwap. 1 billion GVR can be exchanged for 1 GRV. The total supply of GRV tokens is 100 million, and the whitepaper mentions that a significant portion of the profits is used to reduce the number of coins in circulation to increase their value. However, there is no specific mechanism for burning tokens.
Grove has “0% tokenomics,” which means there are no additional fees beyond transaction fees. Grove developers believe that this will encourage the creation of other projects after the launch of the Grove blockchain.
Users have staking and farming options: their profits depend on the longevity of the tokens being locked in the pools. For staking it accounts for 15-60% annual percentage yield (APY), and for farming it accounts for 20% or 80% APY.
Moreover, they can also invest by buying nodes and receiving rewards in GRV when transitions are made through the node.
In addition to solely blockchain-based solutions to environmental problems, Grove is also involved in finding solutions to the food crisis. They have a project dedicated to hydroponic farming; is the sustainable agricultural practice of growing plants (herbs, herbs, vegetables) in container systems. Grove sells and ships these agricultural devices to various parts of the world where water or soil is scarce.
In the future, the company plans to launch a P2E game, credit cards, an online store for sustainable farming solutions, an NFT Marketplace, and many other initiatives.
According to the site, Grove had two audits of the GVR coin, conducted by StaySAFU and CertiK.
Grove to dollar rate chart (GRV/USDT)
Grove project history
Grove was launched in March 2022. Its headquarters is located in Dubai. The tentative launch of the project is scheduled for the second quarter of 2023.
The company's CEO is John Gemrawy. He has more than 5 years of experience in telecommunications and cryptography. He is also the Managing Director of Dubai Metaverse Strategy. Two other team members mentioned on the project's website are Carlo Di Clemente (Chief Operating Officer) and Nuha Elmasri (Marketing Director).
Grove (GRV) Advantages
- Diversity. There are many innovative products in the complex DeFi ecosystem, and in addition to this, Grove is also creating initiatives in areas of sustainable agriculture and renewable energy.
- Experienced team. The Grove team has extensive industry knowledge and connections to the royal family in Dubai.
Disadvantages of Grove (GRV)
- Competition. This is not a new direction in the crypto industry - there are many ReFi projects, as well as green coins.
