$marmaj is the utility token for the Marma J Foundation / marmaj DAO. $marmaj allows for the Marma J Foundation to distribute funding to various marmaj community projects through marmaj DAO proposals. By pairing marmaj with various community tokens, the marmaj community is able to efficiently support various projects within the NEAR ecosystem simply by using $marmaj as a fund distribution mechanism.
The goal of the Marma J Foundation is to leverage Web3 tech for social good.
Project plan / development
As the marmaj DAO distributes funds to support the community, it uses marmaj tokens to do so. The marmaj token is distributed to active and contributing community members and to projects that are building tools to support the NEAR/Web3 community.
One of the main use cases of the token is as an educational tool. As the Marma J Foundation continues to educate users on using Web3 tools, interactions with FTs, DEXs, and DeFi come up often.
Currently, we are building out use cases for $marmaj within the marmaj community.
Future goals would be to integrate $marmaj with on-chain lending protocols.
Farming goals / narrative
There are 21,019 marmaj tokens in existence and 19k of them are in Ref Finance liquidity pools (marmaj-stNEAR pool alone has over 10k $marmaj deposited and shares are owned by marmaj DAO which will not participate in the farming event)
$marmaj is one of the first tokens that have been added to Ref pools. Pool 10 is marmaj-DAI and many more have come after. Combined, $marmaj top 4 pools have generated more than $1/2M in trading volume since their inception.
The goals of this farm would be to bolster $marmaj liquidity on Ref Finance and to allow the growing marmaj community to educate themselves on more of Ref’s features. Having a public farm for $marmaj, also allows for NEAR ecosystem participants to support the marmaj community in an economically incentivized way. $marmaj is not a security and has no promises of returns or gains, but it is a community support mechanism that will hopefully allow more people to get involved with social good.
Pair : marmaj <> stNEAR
Type : Dual Rewards
REF : 958/week
Length : 31 days
Estimated Starting Date : 4th April
Targeted $ TVL : $250k+
Targeted APR : 119% (edit from 200%)