[Farm] OCT <> stNEAR Proposal

Good day Ref Community! My name is Claudio Cossio, I am part of the team working in NEAR Protocol´s first liquid staking platform called Meta Pool.

Currently there is around 3,000,000 NEAR in total value locked on our liquid staking platform that is looking to be allocated on the leading AMM in the NEAR Ecosystem.

So we would like to propose a new farm, which is the partnership between Octopus Network and Meta Pool, which we announced last December.

Our goal is to launch the OCT<>stNEAR farm on Ref Finance on January 24th. Once the current farm is no longer providing Ref rewards.

Double reward for Liquidity Providers.

We can create a double reward farm which will earn liquidity providers an excellent APR on their deposited tokens.

The Meta Pool protocol and the Octopus Network will be providing rewards into the farm so liquidity providers can earn double rewards.

The target APR will be around 10%, which will run for 60 days.

Why is stNEAR a better asset to pair on farms?

Our goal is to replace the current farm that uses wNEAR with stNEAR, this will allow NEAR token holders to deposit their assets into a farm that is more capital efficient.

When the current pool is migrated from wNEAR to stNEAR, those NEAR tokens will flow back to the validator network through staking on Meta Pool; which will distribute all the staked NEAR into 53 validator nodes that we are currently supporting.

These are some of the benefits for the NEAR Protocol network:

  • Now NEAR token holders can get their staking rewards through the stNEAR liquid token.
  • Node validators will get exposure to retail NEAR tokens from the market.
  • As NEAR is being distributed it will help strengthen the network to improve the Nakamoto coefficient.
  • The process to evenly distribute NEAR on the network, helps the protocol become more valuable as capital flows back to every DApp and platform on the ecosystem.

Staking through Meta Pool will earn stakers $META rewards which is our governance token for every NEAR reward that stakers generate.

What is the benefit for Octopus Network token holders?

Since Octopus Network runs on the NEAR Protocol it is important for OCT token holders to understand that when they participate in staking NEAR tokens they are directly helping the Octopus Network platform.

We are an ecosystem so collaboration and cross pollination of projects is important, for Meta Pool to have a partnership with Octopus Network means that we are opening possibilities for collaboration with cross chain DApps and platforms that leverage the Octopus Network.

Staking will also be available in the Octopus Network, so educating on the benefits of staking and liquid staking will be part of the marketing strategy that we are organising together for both the NEAR Ecosystem, the Octopus Guild and Meta Pool community.

The first AMAs will be held on the Meta Pool Discord on the following dates:

  • January 11th at 2pm UTC.
  • January 18th at 2pm UTC.
  • January 25th at 2pm UTC.
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Awesome, everything around metapool is good vibes, nice project, 0 issues, straight forward and of course creating value around the community.

:white_check_mark: Full suport here

Good thinking

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