Intro
The GARD Protocol allows DeFi governance participants the greatest autonomy over their ALGOs without compromise. Higher yields and greater composability for Algorand Governance have been the GARD team’s goals since it began building on Algorand. The GARD Protocol shines because it allows users full access to their assets, the ability to participate in Algorand consensus to secure the Algorand network, and it provides tools to maximize DeFi governance rewards for users who use no leverage or those who use as much as possible.
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Self Custody
Self Custody is of the utmost importance for any crypto user. The crypto movement definitively revolves around having access to one’s assets at a moment's notice; why would one choose a DeFi solution that prevents this? With GARD, a user may get back whatever assets they lock into the system immediately when they return all their borrowed GARD. This is possible via self-custodied CDPs/vaults that are connected solely to a user’s Algorand account/wallet.
No matter the time in a governance cycle and no matter the reason, a user will be able to retrieve THEIR ALGOs. With other solutions, a user’s ALGOs will be lumped in with everyone else’s and they will have no way to get them until the end of the period. They’ll be forced to trade out of other assets they receive in turn for their ALGOs and this could potentially come at a major discount. This is particularly concerning given that with other platforms, a user won’t be able to cast their own votes in Algorand Governance or participate in Consensus.
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Algorand Consensus
The Algorand network is a pure proof of stake network which allows any user with at least 1 ALGO online to participate in securing it. Thanks to GARD’s unique CDPs, each user that uses ALGOs as collateral will be able to participate in Algorand consensus which both secures and decentralizes the whole Algorand network. It’s vital that users consider using the GARD Protocol for this reason alone. This feature will be live for all users 1/31/2023.
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Low Leverage User
A user who does not wish to take out much leverage or any leverage at all on their ALGOs may benefit from using the GARD Protocol for several reasons. They will be able to receive boosted governance rewards that all DeFi governors are eligible for, they will be able to secure the network by participating in Algorand consensus, and they will be able to stake any GARD they mint to earn extra rewards paid out in GARD.
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High Leverage User
A user with a higher risk tolerance can also greatly benefit from using the GARD protocol for all the reasons above, as well as opportunities to compound their governance positions and stake higher amounts of GARD for staking rewards. If a user borrows GARD they will be able to swap it back for ALGOs and recommit these ALGOs to governance in the same CDP or a new one. One must exercise caution in doing this as it will lower one’s collateralization factor and increase the chances they may be liquidated. Users who do not wish to loop, but do wish to participate in the staking rewards may mint as much GARD as they’re comfortable with to earn the GARD staking APR on top of the boosted Algorand Governance rewards via DeFi.
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Folks Finance Partnership
The GARD Protocol partnered with Folks Finance to take another step forward for DeFi composability. Since Algorand Governance Period 5, users of both protocols have been able to deposit gALGO into the GARD Protocol to borrow GARD. While gALGO doesn’t offer as many benefits as ALGO within the protocol. Users are still able to mint GARD and earn the GARD staking rate which has been over 10% since its inception thanks to protocol revenues and a grant from the Algorand Foundation. Soon, users who borrow GARD will be able to deposit their GARD as collateral on folks finance to gain greater advantages and the ability to leverage cross-platform incentives.
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Disclaimer
This is not to be interpreted as financial advice of any kind and we strongly encourage folks to do their own research. More information on GARD Protocol's disclaimer can be found here.