what is ref finance nearity

What is Ref Finance?

Ref Finance is considered one of the core projects of DeFi AMM DEX on the Near Protocol ecosystem. The project aims to act as a platform that aggregates core DeFi pieces for NEAR such as DEX (Decentralized Exchange), lending protocol (Lending/Borrowing), issuance of synthetic assets (synthetic assets), …

Ref takes full advantage of the NEAR protocol’s low transaction fees, one to two seconds transaction completion time, and is WebAssembly-based. In addition to the advantages built on the NEAR platform, Ref Finance also offers:
Multiple pools in one contract
Fast transaction
Customizable pool fees

Highlight Functions


Trade Tokens with Ref Finance’s Automated Market Maker (AMM) exchange.

When you trade (swap) on Ref Finance, you will pay a pool fee (transaction fee), broken down as follows:

Ref finance fee


Provide liquidity and earn revenue from Swap fees.

Pool fees typically range from 0.05% to 0.3%.


Stake LP Tokens to earn substantial rewards.

ref finance farm

Stake Ref tokens to earn more Ref tokens.

Each swap transaction performed on Ref Finance generates revenue for the protocol.
100% of the protocol fee will be used to redeem REF tokens, of which:

75% will be transferred to the xREF contract (xtoken.ref-financial.near) and released linearly over time
25% will be allocated to the Community Fund. This fund will be used to fund grants and other community initiatives/programs.
What is ref finance?

Special of Ref Finance

Low transaction fee <0.01$ (calculated by Near’s transaction fee)
Fast transaction speed only from 1-2s.
Good growth rate (~44275 users).
Multiple Pools in one contract. Users can swap any token pair easily. For example, you have a need to swap the NEAR/DAI pair, but on Ref Finance, there are only two pairs of NEAR/USDT and USDT/DAI available. Normally, you need to do 2 swap orders: Swap from NEAR to USDT, then swap from USDT to DAI. However, on Ref Finance, you can directly choose the NEAR to DAI swap command. The system will automatically perform intermediate transactions to return you DAI.
LP fees are customizable so liquidity providers can set a higher trading fee for illiquid trading pairs, or trading pairs with high exchange rate volatility.
Many rewards when farming. Ref allows each liquidity pool to store up to 16 different farms at the same time to display maximum tokens to users.
Audited by Jita in March 2022.
Knife Mechanism
Ref finance’s current DAO (ref-finance.sputnik-dao.near) uses the Sputnik DAO contract for management.

The DAO has two different roles:
Council: Council members can create proposals and vote. Only Council members can create proposals. If a majority of the Council affirms or rejects a proposal, that decision shall enter into force.
Community: Community members can vote on proposals. If a majority of the Community affirms or rejects a proposal, that decision will take effect. For most proposals, the Council will give the Community a vote and limit voting.
The DAO will be governed by the REF governance token, and the token will be distributed among the liquidity providers, developers, and users of the platform.


What is Ref Finance?
Token Key Metrics
Token Name: Ref Finance Token
Ticker: REF
Blockchain: Near
Token Standard: NEP-141
Contract: token.v2.ref-finance.near
Token type: Governance
Total Supply: 100,000,000
Circulating Supply: 10,938,940.
Token Allocation
What is Ref?
Ref allocation

Token Use Case

As the governance token of Ref Finance, REF has 3 main effects as follows:

Platform Governance: Ref holders will be involved in the governance of the protocol in decisions such as voting for key administrators, plans to launch liquidity incentives, or spending money on protocol upgrades and development.
Platform transaction fee: 0.05% transaction fee will be divided among REF holders, or buy back and burn at the discretion of the community.
Ecosystem and Protocol Development: Ref tokens will be used to reward dedication to the development of the protocol.
Investors and partners


Ref Finance has successfully raised $4.8 million led by Jump Crypto, Alameda Research, Dragonfly Capital, D1 Ventures, OKX BlockDream Ventures, Kucoin Ventures, SevenX Ventures, Woo Network, Move Capital, Puzzle Ventures. This promises to be a boost for the project in the near future.


What is ref finance?
Reffin’s partners are mainly Near protocol, pieces in the ecosystem such as Octopus network, Skyward Finance, etc.

see more another dex on NEAR


Thus, we have learned about Ref Finance, the mainstream AMM DEX in the Near Protocol ecosystem that is receiving great attention recently. With the continued development of the Near ecosystem and the cash flow still being poured in by large investment funds, I believe that the future potential of Refinance is huge. If you find it interesting and useful, don’t forget to share it with Nearity!

By admin

Leave a Reply

Your email address will not be published.