Grove (GRV) is an environmentally-conscious crypto project. The project’s main goal is to create a healthy and wealthy future for humanity by solving the ecological problems associated with crypto mining (e.g. high energy consumption). In addition to that, they also want to use cutting-edge technologies to tackle other burning issues of the world, including hunger.

This is a proof-of-stake cryptocurrency built on Ethereum and Binance Smart Chain.

Grove strives to create an ecosystem of eco-friendly DeFi products:

GroveKeeper, a digital wallet with an emphasis on usability and safety;
GroveSwap, a decentralized exchange;
GroveX, a centralized exchange which has not been launched by the time of writing this article.

Additionally, there is a “GreenOasis” program under GroveX, which is a support platform for other green crypto projects which helps them gain visibility through partnerships and support. In the team’s view, it is vital for more niche eco-friendly initiatives to gain traction. With all these initiatives, Grove wants to create a community for those crypto enthusiasts who also care about the environment. On their site, the team calls the supporters “The green army”.

Even though the GRV token appeared recently, in January 2023, this is not an entirely new project, the previous ticker was GVR. This change followed some significant changes on the platform, namely the introduction of GroveSwap. 1 billion GVR can be swapped for 1 GRV. GRV token’s total supply is 100 mln, and the Whitepaper mentions that a significant portion of the profit goes toward reducing the amount of circulating coins to drive up their value. However, there are no specifications for the burning mechanism.

Grove has “0% Tokenomics” meaning that aside from the operational fees, there are no additional taxes. Grove’s developers believe that this is going to incentivize building of other projects once Grove blockchain is launched.

Users have the options of staking and farming: their profit depends on the longevity of locking tokens in the pools. For staking, it is accounted for 15-60% of annual percentage yield (APY), and for farming – 20% or 80% APY.

What is more, they can also invest by purchasing nodes and getting rewards in GRV when transitions are carried out through the node.

Aside from strictly blockchain solutions to ecological issues, Grove also participates in finding solutions to the food crisis. They have a project that deals with hydroponic farming; this is a sustainable agricultural practice of growing plants (herbs, greens, vegetables) in containerized systems. Grove sells and ships these farming devices to various parts of the world that experience a lack of water or soil.

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 has had two audits for the GVR coin done by StaySAFU and CertiK.

Where did Grove (GRV) come from?

Grove was launched in March 2022; once built, its headquarters will be situated in Dubai. It will be completed in the second quarter of 2023.

The company’s CEO is John Ghemrawi; he has a background in telecommunication engineering and he has worked in the crypto sphere for over 5 years. In addition to being the head of Grove, he is a managing director of Dubai Metaverse Strategy. The other two team members who are mentioned on the project’s site are Carlo Di Clemente (COO), and Nouha Elmasri (CMO).

What are the advantages of Grove (GRV)?

Diversity. Within the complex DeFi ecosystem, there are lots of innovative products, and in addition to that Grove also creates initiatives in the sphere of sustainable farming and renewable energy.
Experienced team. The Grove team has extensive knowledge of the sphere and connections with the royal family of Dubai.

What are the disadvantages of Grove (GRV)?

Competition. It is not exactly a brand-new direction of development for the crypto industry – there are many ReFi projects as well as green coins.

How to buy Grove (GRV) on SimpleSwap?

Please, follow this instruction to get Grove tokens:

Choose the cryptocurrency you would like to exchange (e.g. BTC) and enter the amount.
Select Grove in the second drop-down list as the crypto you would like to receive. You will see the estimated amount that you will get after the exchange.
Click the Exchange button.
Enter the Recipient's Address. GRV tokens will be sent there. Be careful and make sure you use the correct address.
Create the exchange.
You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the BTC to GRV exchange. Then wait for Grove tokens to reach your wallet.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

Don’t miss our new articles!

Share on: