[FARM] Farm Ref Rewards On First Half of February

Following is the details for farming ref rewards on first half of February (1 - 13) , total is 352,092 ref.

2023Feb phase1 farm ID day rate last total amount
USDC_WNEAR v2.ref-finance.near@3#0 2829 13 36777
USDT_WNEAR v2.ref-finance.near@4#0 2829 13 36777
REF_WNEAR v2.ref-finance.near@79#0 6470 13 84110
PARAS_WNEAR v2.ref-finance.near@377#1 289 13 3757
MARMAJ_STNEAR v2.ref-finance.near@553#2 61 13 793
WBTC_WNEAR v2.ref-finance.near@974#0 1809 13 23517
ETH_WNEAR v2.ref-finance.near@1207#0 2118 13 27534
AURORA_WNEAR v2.ref-finance.near@1395#0 656 13 8528
DAI_USDC_USDT v2.ref-finance.near@1910#0 3637 13 47281
$META_STNEAR v2.ref-finance.near@1923#0 217 13 2821
FLX_WNEAR v2.ref-finance.near@2330#0 309 13 4017
OCT_REF v2.ref-finance.near@2657#0 345 13 4485
ABR_USDC v2.ref-finance.near@2691#0 217 13 2821
ETH_WBTC v2.ref-finance.near@2734#0 1152 13 14976
SOL_WNEAR v2.ref-finance.near@3019#0 493 13 6409
PEM_WNEAR v2.ref-finance.near@3449#1 393 13 5109
PEM_USDC v2.ref-finance.near@3471#1 393 13 5109
BRRR_WNEAR v2.ref-finance.near@3474#0 247 13 3211
STNEAR_WNEAR v2.ref-finance.near@3514#0 628 13 8164
LINEAR_WNEAR v2.ref-finance.near@3515#0 159 13 2067
SD_USDC v2.ref-finance.near@3636#1 287 13 3731
SWEAT_WNEAR v2.ref-finance.near@3667#2 1041 13 13533
nearX<>wnear v2.ref-finance.near@3688#1 437 13 5681
SEAT_WNEAR v2.ref-finance.near@3714#1 68 13 884
SUM 27084 13 352092


Appreciate the transparency update! I know the vetokenomics are not live yet - however, as a non-technical but dedicated $REF community member I have some input regarding the rewards distribution:

  1. In my opinion, the funding the WBTC-WNEAR farm with such a high amount of $REF is extremely questionable, especially given the existence of the currently well-funded WETH-WNEAR and WETH-WBTC farm.

As an avid user of the platform, I would strongly like to see most (if not all) the REF ecosystem stream rewards from the WBTC-WNEAR farm go to the WNEAR-WSOL farm instead.

There’s a few reasons for this:

In my opinion the WETH-WNEAR, WSOL-WNEAR and WBTC-WETH are 3 farms that together offer a great way to promote the NEAR ecosystem.

  • WBTC-WETH: is probably the best farm to fund given that this farm has historically high correlation, brings in TVL, and offers a users a ‘safe’ farming experience

  • WETH-WNEAR: is a useful farm for NEAR-native folk already exposed to some of the risks that come with holding NEAR, looking to interact and gain exposure to upside in the Ethereum / Aurora ecosystem

  • WSOL-WNEAR: is in theory able to offer a great ‘high-risk’ degen farming experience, especially as the Solana ecosystem is one NEAR shares a certain market overlap with. However, currently the $REF rewards aren’t NEAR (:slight_smile:) enough to incentivise that farm adequately.

Anecdotally, there also exists a clear numerical correlation between the two tokens (I.e. SOL at $15 USD most likely means $NEAR is around $1.5 USD). However, please don’t take this analysis bank - it’s just a curious thing to note as it has seemingly little to do w market cap :stuck_out_tongue:

  1. Secondly, is ref.finance able to look into funding either a Trisolaris or Holdr $TRI-$REF farm? I understand priority may not be there at the moment as there is little liquidity, but this is a community favourite pool - it also encourages users outside REF to interact with the DEX on NEAR without funding a direct competitor

  2. Lastly, I would like to end by raising the question if it’s potentially better to fund an OCT-WNEAR farm instead of the existing OCT-REF? Are there any thoughts on this?

From a community UX perspective, it makes no sense for the other half of the pool to be $REF - can’t the farm be OCT-xREF? I understand this is likely impossible, but I would love some clarification as to why $REF is a better choice than $NEAR.

Thank you for your time,


Thank you very much for your thoughts and interest in RefFi!

Farms are primarily meant to incentivize people to deposit their assets in specific pools so that there is enough liquidity to handle the expected volume of trades for the token pairs in those pools. wNEAR/WBTC has $680K of TVL (98% of which is staked), and a 24h Volume of $36K (5% of TVL). It has a significantly higher Vol/TVL than WBTC/ETH and SOL/NEAR, which is why it needs significantly higher rewards.

You can see the stats for pools on Ref Analytics

There was discussion about a partnership to do something like this last summer, but I can’t remember what ended up happening

The OCT/REF pool/farm exists because of a partnership agreement between Octopus and RefFi

Not impossible, but inadvisable. xREF is an anti-inflationary measure, in that it incentivizes people to hodl REF instead of swapping it (especially REF they get from farming). Incentivizing a xREF pool with REF rewards would be inflationary, and therefore counterproductive.

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