The Grand Banks: Founded by the Narwhalswap Team to Bring Yield Farming Back to the Basics

Automated LP yield farming protocols are quickly becoming a norm in Decentralized Finance (DeFi) economy. Narwhalswap recently launched The Grand Bank protocol with vaults and automated Yield Farming protocol that allows users to save on gas costs and farming efficiency.

By
Wilfred Victor
on
April 27, 2021
Category:
BSC News


What are The Grand Banks?

According to the official released Medium post, the Grand Banks will help users select a farming LP fund and simply invest in it. The product will also provide a portfolio tracker for users to help them keep track of their LPs.


The Grand Banks

The Grand Banks is the recently released product of the Narwhalswap protocol that brings yield farming back to the basics. No barrier of entry, no multiple steps to farming, just simply ride the waves toward your earnings.


Key Features

The key features of the Grand Banks include;

  • Ability to invest in farming LP funds with  NAR, BNB, BUSD, GRAND and even LP tokens.
  • Get back your funding currencies when you make a withdrawal either in NAR, BNB, BUSD, or GRAND or LP tokens.
  • Automatically reinvestment of the funds (compounding).
  • Ability to keep track of your portfolio .


Project Components

After connecting their wallet to the platform, users will be able to invest in any LP pools available featuring industry-standard APRs.


The Grand Banks LPs

The investment pools are currently depreciated as the platform is getting ready to be upgraded to the V2 version. Part of the features includes making investments and withdrawals in any of the four tokens/coins of BNB, BUSD, NAR, and GRAND. In addition to single tokens, v2 also provides the ability to deposit and withdraw LP tokens.

Additional stablecoin pools, $UNI, and $LINK pools have been added to the protocol pool and many more are on the way!


Automated Reinvestment (VAULT)

Vault service will help users to save funds on gas costs and yield farming efficiency by enabling automatic reinvestment.

$Grand Rewards for Investor 

Investors who invest in the Grand Bank will be able to mine the $GRAND token.

GRAND Rewards

Track your GRAND rewards on the top right corner of the portal in real-time, which are available to be claimed. You can track how your portfolio is fairing right on the portal.


Project Update

According to this [EMBED] Tweet from the Grand Banks handle, PancakeSwap GRAND LP will be migrated; when this is done, users will be able to migrate in one click.


Tokenomics

No pre-farming, no presale. It was minted linearly, started from 17th April 2021.

Max supply: 30,000 $GRAND 

Mining Program: 26,400 $GRAND (88%)

  • Team: 3,600 $Grand (12%) 
  • 6.5% Dev Team
  • 2% Marketing and Partners
  • 2% Core team
  • 1% MoD
  • 0.5% Airdrop
  • 20% to NAR stakers 25% to NAR-BNB NLP holders
  • 25% to NAR-BTC NLP holders
  • 15% to GOLD-BNB holder
  • 15% to NFT holders
  • Grand Token : 0xeE814F5B2bF700D2e843Dc56835D28d095161dd9
  • Grand Banks (Masterchef) : 0x3d8fd880976a3EA0f53cad02463867013D331107

Platform fees will be used for the "buyback and burn" program until ten months of mining is completed - after that 50% will be burned, and 50% will be distributed to the GRAND-BNB liquidity provider to stimulate the pool..


Vault Distribution

Controller Fee: 0.2% — 0.5% (0.6% on single token vaults)

Treasury: 0.5%

Vault Fee ($Grand Buyback & Burn): 1.5%

Entrance Fee: <0.1% on initial capital (One-off)

Withdrawal Fee: 0.0%

For WBNB-Grand LP vaults, there are no fees at all.


About Narlwhalswap

Narwhalswap is a next-generation Automated Market Maker (AMM) and yield farming protocol built on the Binance Smart Chain (BSC) network.

Narwhalswap

It has unique features for its users, including a decentralized exchange service (Dex), NFTs, Yield Farming, Stake protocol, Bazaar, and Chart tools to look up Narwhalswap pairs and tokens.

Narwhalswap Chart Tool

The Grand Banks is the recent product of the project, created to reduce entry barriers for the users, help initiate an automated reinvestment program through its vault service.

Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.

This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.

For users who wish to learn more about The Grand Banks, check out the following resources:

Website

Twitter 

Telegram

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Wilfred Victor

Ace finds himself as a blockchain enthusiast who is focused on growing with the entire crypto sector. He is an energetic and passionate writer who believes that all things are achievable.