My daughter wants to find a family to adopt her baby that will still allow me to be an active grandparent in the baby's life. Is this even possible?

Yes, this is possible, but there is a caveat. Birth grandparents do not have any legal rights, but many are very involved in open adoptions.

Your daughter would need to talk to the adoptive family she chose to parent her child about this expectation. Many families would be open to it. There is no way to make this legally enforceable, however, so it would have to be a situation where you really trusted the adoptive parents.