Cheddar.farm REF Pool Rewards Proposal

Cheddar is a fun and low-risk way for existing and new users to learn and participate in the NEAR ecosystem and DEFI. As a drop zone for early NEAR adopters and the 1Billion users to come, the Cheddar Farm is a non-impermanent loss solution for users and projects alike.

Our audited multi-stake “no impermanent loss” staking pools provide a unique opportunity for new users and those with modest amounts of Ref and other ecosystem projects to farm and grow with NEAR while avoiding the common pitfalls/losses new users face with DEFI.

The Cheddar DAO and Ref DAO, for the past several months, have partnered together to offer both Cheddar and Ref rewards on the Ref Farm for the Cheddar->NEAR LP as a way to support users, and now the Cheddar DAO would now like to take the next step and request the Ref Board to consider and vote to extend Ref Rewards to the Cheddar Farm as well!

A new Ref specific pool would be created to allow the faithful Ref HODLers that may not have the experience or means to enter the Ref LP the opportunity to put their Ref to work. This new pool would allow Ref HODLers to stake Ref tokens and Cheddar on the Cheddar Farm to farm both Ref and Cheddar rewards. Emissions would be modest but would provide an opportunity to those with modest budgets or limited experience with DEFI.

Stake $Ref + $Cheddar → Farm $Ref + $Cheddar
Duration: 30 days
APR: 2%
Deposit Fee: 0

Dual Rewards:
$Ref Rewards: 4931.506849
$Cheddar Rewards: 76271.25675

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Yep, would be great to see Cheddar/Ref as an entry level DeFi pool :cheese: :+1:

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A project with interesting solutions.
But I saw users’ worries about unlimited emission and probably put a limit on emission, locking the main part of tokens in the contract will be not bad solution. IMHO.

I also like that the project team has heard the users and is constantly publishing news about the project and trying to work with the community.

As a community manager of the Russian-speaking community, I would advise trying to organize an AMA with different communities in our ecosystem.

It’s a tough time and a tough market, but I hope that the team can show and prove its value to the ecosystem.

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Said here that u guys requested 4900 $REF for this farm + 76000 $Cheddar reward, with the price of ref at 0.4 and $Cheddar at 0.01 that’s 2720$ in token reward. yet expected the apr to sit around 2%… that’s way lower then it should be, as your TVL on active farm were sitting around 1.2k and 1.5k $META + Cheddar and REF + BRRR + Cheddar.
Perhap you could mention your expected TVL for this farm so we can have a better look onto it?

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Although the Supply is Unlimited. The emissions are controlled by the Cheddar DAO. With the addition of our P3 multi-token pool, the contract no longer mints Cheddar but instead uses existing deposited Cheddar. Other than via a Cheddar DAO vote, the only other game emitting new Cheddar is Cheddar Draw.

Yes, we lost some traction due to a delay in development. We now have a stronger team focused on shipping more frequently and have worked on our communication. We have started AMA’s and will begin to do more.

Great point these numbers are now updated based on current values:

Stake $Ref + $Cheddar → Farm $Ref + $Cheddar
Duration: 30 days
APR: 2%
Deposit Fee: 0.3

Dual Rewards:
$Ref Rewards: 1498.391726
$Cheddar Rewards: 27767.49352

Here is the Google doc with formulas:

It would be exciting to test out Cheddar / REF pool. The defi users with both types of tokens could benefit from having this option.

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