The Liquidity Staking platform is one of the infrastructures for the development of an ecosystem. For the ecosystem of NEAR Protocol, the LiNear project is one of the outstanding projects. Let’s learn about this LiNEAR project with Nearity.
Overview of the LiNEAR
What is LiNEAR
LiNEAR is similar to the MetaPool project: When you stake NEAR in the platform and receive tokens $LiNEAR can be used to do other things on the ecosystem like Farming / Lending & Borrowing and many other features on NEAR Protocol and Aurora while still receiving NEAR ~9% to 11% stake interest per year and many other incentives.
With this form of Liquidity Staking will create an opportunity for you not to be buried when holding a project token and at the same time can maximize your profits.
This form is quite similar to the Lido Finance solution on the Ethereum ecosystem
Highlight Overview of the LiNear
- As mentioned above, the LiNEAR project helps you to optimize liquidity and avoid being buried when sending staking. Assuming you stake NEAR on NEAR wallet with an interest rate ~ 10%/1 year, your capital is kept for validators, stake NEAR on LiNEAR, you get back $liNEAR token and still receive interest
- The staking and the unstacking process is simpler, there is no need to send your assets to any specific validator, LiNEAR automatically allocates assets to the top validators, making NEAR’s network more decentralized
- Option to unstake NEAR immediately (0.3% loss) or slow unstake (about 72 hours, no fees) similar to unstake on the NEAR wallet as usual.
- Use LiNEAR tokens for farming/staking or lending on the NEAR and Aurora ecosystems (coming soon).
- Automatically accumulate your interest in LiNEAR tokens.
More features are under development.
Features in the LiNear
Stake – Deposit $NEAR
The stake is the deposit of your NEAR token to the LiNEAR Protocol.
You will get back liNEAR tokens, the value of liNEAR increases in proportion to the number of APYs of NEAR, i.e. after one year, 1 liNEAR is worth 11% more than NEAR.
Unstake – Withdraw $NEAR
Unstake is to exchange liNEAR tokens for your NEAR.
When Unstake you have 2 options:
- Unstake now – lose 0.3% of total NEAR
- Slow unstake – within 2~3 days, LiNEAR unstake time equals NEAR wallet unstake time, no fees
Fee for using LiNEAR
The cost of using the LiNEAR Protocol is as follows:
- Stake Fee: 0%
- Unstake fee for instant withdrawal of tokens: 0.3 to 3% of the total amount of NEAR withdrawn
- Slow unstake fee (wait 72 hours) same as staking on NEAR wallet: Free
- Commission: 1% LiNEAR collects 1% system fee on your profit.
By adding liquidity you will get the fee from the liquidity pool which in turn gets part of the fee from users who want to unstake NEAR immediately.
Deposit your NEAR into Liquidity to conduct liquidity mining.
There are 2 options here:
- More Liquidity – Put your NEAR in a liquidity pool and earn interest
- Withdrawal of Liquidity – Withdrawal of NEAR
LiNEAR – Account
In your account, you can add LiNEAR tokens to your NEAR wallet in case the token does not appear after staking.
Log out – exit your account on LiNEAR Protocol
Key Metrics of LiNEAR token
- Token Name: LiNear
- Ticker: LiNEAR
- Blockchain: NEAR protocol
- Token Standard:NEP-20
- Contract: Updating…
- Token Type: Liquidity Token
- Total Supply: Updating…
- Circulating Supply: Updating…
Token Use Case
The LiNEAR token is considered a kind of stNEAR or stETH, and is used for different purposes in DEFI without affecting the assets being staked on the protocol’s system.
LiNEAR was audited successfully security by BlockSec. On April 1, 2022, the security audit report for LiNEAR v1.0.0 was completed. You can read it here. This audit concentrated on LiNEAR’s smart contract codes, business logic, software, and DeFi security, among other things. During the audit, no high-risk vulnerabilities were discovered, and the team accepted all minor faults and recommendations made by BlockSec.
LiNEAR will continue to engage with respected DeFi protocols in the NEAR-Aurora ecosystem in the future to diversify its use cases in the DeFi landscape. This year, the LiNEAR team will also release additional functionalities to meet the needs of users, such as implementing cross-chain interoperability, lower fees and slippage for the LiNEAR-NEAR liquidity pool, and more.
Team, Partners, and Backers
The NEAR Core team from the NEAR Foundation provided direct technical and financial support to the team.
The LiNEAR Protocol founding team includes world-class engineers who have worked at some of the largest technology firms, contributed to the top 20 open source crypto projects and leading businesses, and raised over $50 million in venture capital funds.
However, The team remains unidentified and no information about the project participants is available.
- The Graph brings superior data indexing and querying
- PinkPea Finance. You can stake the $LiNEAR-wNEAR Pool for users to earn $LiNEAR and $PEA rewards.
- Sender Wallet. Users can connect to LiNEAR via Sender Wallet, which has official support. In the stake section, Sender users can select $LiNEAR.
- Burrow. Their collaboration allows customers to deposit $LiNEAR as collateral and borrow against it to earn interest or unlock liquidity.
- Flux Protocol. Flux will offer $LiNEAR with Oracle price feeds as part of the integration, allowing community members to use $LiNEAR in lending protocols, derivatives DEXs, synthetic assets protocols, and so on on the NEAR and Aurora networks.
- Ref Finance. The listing on Ref Finance signifies LiNEAR’s entry point into the NEAR DeFi ecosystem, and it scales the potential of LiNEAR with enormous benefits. More importantly, it offers $LiNEAR with much-needed liquidity and convenience. You can farm $LiNEAR-wNEAR on Ref Finance.
- Jumbo Exchange. To earn benefits, provide liquidity to the LiNEAR: Jumbo pool and stake LP tokens in the farm.
- Trisolaris. You can stake $LiNEAR <> $NEAR to get $LiNEAR & $TRI rewards.
- Crafting Finance
Investors / Backers
- Near Protocol
- Proximity Labs
- Metaweb Venture Capital
The LiNEAR Protocol is a NEAR Protocol-based liquid staking solution. LiNEAR increases the liquidity of staked NEAR by providing a staking derivative that can be used with multiple DeFi protocols on NEAR and Aurora, while also earning over 10% APY on the underlying base tokens. LiNEAR is the foundation of the NEAR-Aurora DeFi ecosystem.