1. Project description
Cheddar is a loyalty token that rewards loyal users of the NEAR ecosystem with Cheddar. Rewards are distributed via contests, yield farming, games, and partnerships. We would like to extend these rewards to the Ref farm to provide additional utility for Ref and Cheddar HODLers.
Cheddar already has an established single staking yield farm with no impermanent loss.
- Cheddy PowerUp NFT Sale. This will give farmers that own the NFT an additional yield boost on the farm. Both Cheddar and NEAR from the NFT sale will go to the Cheddar DAO, where some funds will be used to add additional liquidity to the LP.
Our full roadmap can be found here:
Multi-Stake / Multi Reward Pools. An audit of a new contract will take place next week by Blocksec of a new farming contract that requires multiple tokens to be staked to farm, for instance, $Ref + $Cheddar. This new pool type also allows for multiple rewards tokens
NFT Staking. We will provide NFT staking for other projects throughout NEAR to provide more utility for their HODLers.
3. Farming goals:
Our goals for adding the Cheddar <> NEAR pool to the Ref farm is to provide the Ref community with greater exposure to Cheddar along with providing additional utility and another way to farm Cheddar for Cheddar HODLers. We believe this will both increase liquidity and provide and keep LPers in the pool longer.
Pair : Cheddar <> NEAR
Type : Double
Cheddar : 9462.869503 / week
Ref : 473.1434751 / week
Length : 31 days
Estimated Starting Date : 05/06/22
Targeted $ TVL : 150K
Targeted APR : 125%