Staking on NEAR was previously restricted in that it could not be withdrawn immediately, reducing the user experience. As a result, Meta Pool was launched to deal with the issues associated with staking on the Proof-of-Stake network. Meta Pool is the first liquid staking protocol built on the NEAR blockchain. Let’s take a look at Meta Pool with Nearity by heading over the following detailed information.
What is Meta Pool?
Meta Pool is a liquid staking solution for the NEAR Protocol. Users can stake NEAR to receive stNEAR tokens and 10% stake rewards. With this special feature, users will simultaneously earn NEAR staking rewards and stNEAR profits by participating in DeFi platforms.
The goal of Meta Pool is to solve problems such as liquidity, immobility, and accessibility, and especially to make the staked NEAR tokens more liquid and to distribute staking many validators to improve the security of the network.
What are the features of Meta Pool?
With the Meta Pool platform, users can participate in Liquid Staking by staking NEAR tokens and receiving stNEAR – tokens with similar usability as NEAR. It even allows you to swap against NEAR at any time without having to wait 50-60 hours like traditional swap solutions.
Users who want to unstake will have to pay 0.3% – 3% of the fee, depending on the number of tokens they want to withdraw. However, Meta Pool still allows you to unstake in the traditional way, which is free and takes 2-3 days.
The outstanding feature of Meta Pool is the accumulation of capital to maximize profits. Moreover, when staking NEAR, you also get 75% more unstake fees from other users. The system will transfer the remaining 25% of the fee to the Meta Pool Treasury.
Meta Yield is a Kickstarter for new projects on NEAR to raise funds from the community. It uses staking to de-risk the financing of these projects.
Projects can request the amount of $NEAR required to launch their product/dApp. Projects benefit from exposure to and funding from the community. Furthermore, they contribute to and support the decentralization of NEAR, and the channel through which their tokens are easily distributed. In particular, not the price discovery mechanism that projects are receiving funding to begin development.
Backers have the opportunity to support projects that they believe will increase in value over time and are valuable to the NEAR ecosystem and community. The benefits for backers are exposure and access to various projects and their tokens. The second benefit of risk-free support is that backers are not committing all of their NEAR tokens to a project, only their staking rewards. In the final, backers receive an IOU (Bond) for the NEAR value of their deposit.
Any project interested in being listed on Meta Yield to raise funds should get in touch with their team via: email@example.com
Moreover, Fundraising Campaign on Meta Yield had two projects Pembrock ($PEM) and DAOrecords ($SPLASH).
How does Meta Pool work?
Meta Pool allows users to stake their $NEAR. In the backend, a bot distributes NEAR between low-fee, high-performance validators. Every epoch, the bot computes rewards from all the staking and increases stNEAR price accordingly.
Liquid Staking is an alternative to the traditional Stakes. It allows users to stake NEAR and unstake NEAR effectively without having to wait 52 to 65 hours to receive their double reward.
However, users will have to pay 0.3% to 3% of the fee depending on the number of NEAR tokens they want to unstake.
Meta Pool’s operation process is as follows:
- Use NEAR tokens to stake using Meta Pool’s liquid staking protocol.
- After stake NEAR, users will receive stNEAR, stNEAR will increase in value through staking rewards.
- Stakers and users who provide liquidity all receive META admin tokens to join the DAO.
- stNEAR can be used in the platform
What is META token?
Key Metrics of META token
Token Name: Meta Pool
Token Standard: NEP-141
Token Type: Governance
Total Supply: 1,000,000,000.
Circulating Supply: updating
Team & Advisors: 2.6%
Community & Treasury: 57.40%
Token Use Cass
However, $META will not be earned through Staking, Liquid Unstaking, or providing liquidity from February 1, 2022.
- Governance: META token holders will have the right to propose and vote to control the ASTRO DAO in the MetaPool DAO. Administration at Meta Pool is divided into 2 phases:
Phase 1: DAO and council members—members of Meta Pool’s core team
Phase 2: META token holders will control the DAO and decide on the Meta Pool’s future plans.
- Fees in the Meta Pool Treasury are used to buy back META tokens.
What is a stNEAR token?
stNEAR is a token that represents staked NEAR in Meta Pool, combining the value of the initial deposit + staking rewards. The bot calculates the reward from all stakes during each epoch (every 12 hours) and increases the price of stNEAR accordingly. stNEAR, like other NEP-141 tokens, can be sent, received, and traded. Furthermore, it is used to increase pool liquidity and boost on-chain activity.
How to get $META and stNEAR
On NEAR economy
As explained previously, META tokens are rewarded when you provide liquidity or make liquid unstake in the Meta Pool for an extended period of time, or farming on Ref Finance, deposit stNEAR on Burrow, or swap on Ref Finance and Jumbo Exchange.
On Aurora economy
Use stNEAR across DeFi Ecosystem
You can get $META and stNEAR on NEAR and Aurora through their partners
– Launch of Meta Pool DAO
– Voting on DAO
– Treasury allocation
– Publishing the list of allocators of Validator
– Development of pegged-NEAR loan contracts
– Combine DEX
– Partner with Trisolaris, NearPad, and Aurora
– Pool dividend stNEAR/META
– Fee specifications for liquidity pool NEAR/stNEAR
Team, Partners, and Backers
Meta Pool’s core team includes:
Lucio Tato – Technology/Architecture.
Claudio Cossio – Product/Growth.
Alan Estrada – Developer.
Fritz Wagner – Designer.
Meta Pool is currently in partnership with Ref Finance, Trisolaris, Oin Finance, Burrow Cash, Aurigami, Bastion, Wannaswap, Jumbo Exchange, Octopus Network, Polaris, BlueBi, and DappLooker.
BlockSec, one of the leading blockchain auditing firms, successfully audited Meta Pool. The audit was a success, with only a few minor issues and suggestions that were addressed. The auditing process and results are outlined below.
Meta Pool is the first Liquid Staking on NEAR to solve the illiquid and accessibility issues of staking Proof of Stake. Users also earn rewards from staking NEAR and stNEAR profits.
Easy unstake, swap back into NEAR token at any time (0.3 – 3% fee) or free if you wait from 2-6 days.
Users can maximize their profits with compound function (automatically pooled) into the capital.
More projects are accepting stNEAR as collateral, expanding on more use cases.
Meta Pool’s community