[FARM] LiNEAR<>wNEAR - April

Project Description

$LiNEAR is the staking derivative token minted by LiNEAR Protocol, the liquid staking protocol built on NEAR native. Users stake $NEAR via LiNEAR Protocol, receiving $LiNEAR tokens back whose value appreciates with $NEAR staking rewards accumulated. LiNEAR gives NEAR HODLers the opportunity to enjoy staking rewards and participate in DeFi at the same time.

Project plan/development

LiNEAR will support staking farm soon, and will make itself the most fundamental DeFi lego in NEAR ecosystem, in collaboration with top lending protocols, stablecoins, and more.

Farming goals/narrative

$LiNEAR market cap will rise rapidly, and it’s for mutual benefit of both LiNEAR and Ref to deploy $LiNEAR/$NEAR pool on Ref and kickstart farming.

We propose the following farm:

Pair: $LiNEAR <> $wNEAR

Type: Double rewards $Ref and $NEAR ($NEAR provided by LiNEAR Protocol)

$REF: 10,000/week

$NEAR: 250/week

Length: 31 days

Estimated Starting Date: 13th April

TVL target: 5M+

APY target: 20%

3 Likes

Hi @Aldrich, welcome to the Ref community!

This is a very nice proposal but i think $LiNEAR hasn’t been whitelisted on Ref finance yet? If you don’t know about the procedure then please check out this post. After that please send all the required information to: Didier@ref.finance to have it reviewed faster.

5 Likes

It would be cool if they could get more information about the project, the team and their background.
What is the difference between your project and Meta Pool?
Why should users trust and choose your project?

2 Likes

$LiNEAR will start whitelist process soon.

LiNEAR has some different functions, and $LiNEAR has different application scenarios in DeFi space. For further information on LiNEAR, please see ’ LiNEAR: the Evolution of Liquid Staking on NEAR

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Thank u for bringing some reference but IMO this article has only touched the surface and to my perspective, i still haven’t seen any noticeable differences between your project and Meta Pool^^ but yeah maybe u would have a different niche and a different approach=00

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  1. The code of LiNEAR protocol is completed independently, and some optimizations have been made in terms of robustness and security;
  2. LiNEAR will support Staking Farm, and users can get a variety of token incentives and higher profits in the process of staking;
  3. LiNEAR will support cross-chain interoperability, making it easier for users to use $LiNEAR to participate in DeFi legos;
  4. LiNEAR is part of a larger DeFi protocol, and future airdropped and incentivized tokens will have value capture capabilities far beyond liquid staking scenarios. (Detailed information will be announced in the next 1-2 months)
  5. In the future, $LiNEAR will have different usage scenarios from $stNEAR, such as applications in stablecoins, derivatives, yield aggregators, etc.
4 Likes

Is $LiNEAR the liquid staking token? (stNEAR equivalent)

What is the protocols native token? (META equivalent)

You’ve made some optimisations on ‘code that is completely independent’?

Personally I have several questions and concerns about this project and team. These concerns are shared widely across many people I’ve spoken with within the NEAR ecosystem. The REF brand inspires trust - that’s why we whitelist projects - and I am worried that the project is so new, with an anonymous team and dubious claim about the source of its code that it is more what we stand to lose from repetitional damage than what we stand to gain from modest volume (Linear TVL currently $13m)

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$LiNEAR is the liquid staking token.
LiNEAR is part of an ambitious DeFi protocol whose governance will use a “meta-governance” token that can participate in the governance of multiple protocols. Therefore, there is no exclusive governance token for LiNEAR, and information about “meta governance” products will be released in the next 1-2 months.

Liquid staking products have similar functions, but don’t mean use the same implementation methods in coding.

According to [BlockSec’s auditing report], LiNEAR contract code is highly secure.

DAO Proposal #152 to add LiNEAR to the global whitelist

2 Likes

Proposal Update

Pair: $LiNEAR <> $wNEAR

Type: Double rewards $REF and $LiNEAR ($LiNEAR provided by LiNEAR Protocol)

$REF: 10,000/week

$LiNEAR: 280/week

Length: 31 days

Estimated Starting Date: 28th April

TVL target: 10M+

APY target: 20%

3 Likes

10,000 REF / week sounds ‘oversized’ considering:

  1. Size of current LiNEAR <> NEAR pool (pool id: 3088) - TVL $152K

  2. Demand/volume generating 1% APR for LPs at current rate

To give some comparisons:

  • nUSDO <> NEAR has $250K+ in TVL and gets 1,918 REF / week

  • DBIO <> NEAR has $174K in TVL and gets 958 REF / week

  • MARMAJ <> NEAR has $361K in TVL and gets 958 REF / week

Moreover, some associated stats relating to the demand/volume (less relevant as LiNEAR is a new project but still, some data you can rely on as you grow):

  • nUSDO <> NEAR gives 9%+ APR to LPs on average (based on past data) - This is without liquidity incentives

  • DBIO <> NEAR gives 12%+ APR to LPs on average (based on past data) - This is without liquidity incentives

Data source: https://stats.ref.finance/

Note that $UTO is also an interesting example, as they set a successful farm with UTO rewards ONLY. TVL of UTO <> NEAR is almost $400K and the volume is giving 12%+ APR to LPs on average. The farm has been very successful so far.

My advice would be to kick off a farm with LiNEAR rewards only, then assess further support with REF rewards if the farm is gaining momentum after its first month/experiment.

3 Likes

Let me add that the above post reflect my own opinion/ideas, which can be different from the DAO.

I just think that the amount of REF rewards should be reviewed, giving more chance for the farm proposal to pass.

1 Like

Proposal Update
Phase I:420 $LiNEAR/week
TVL target: 1M+

Phase II:(When the TVL is over 1M and continued for five days)
420 $LiNEAR/week,4200 $Ref/week
Length: 31 days
TVL target: 3M+

2 Likes