[FARM] OCT <> stNEAR - update

Hello Ref community! We posted at the beginning of the year that we have partnered with Octopus Network to launch a new farm.

We had to post-pone the launch for February 14th, this is part of our strategy to distribute our $META governance tokens to stNEAR token holders, with good incentives for farmers.

These are some of the details:
Launch Date: February 14, 2022

Duration: 60 days

Target APR: 15%

Rewards: $OCT + $META + $REF

There will be a migration from the current OCT <> wNEAR to the new farm, so please read carefully and if you have any questions please do not hesitate to send us a message.

How to Migrate from OCT/wNEAR to OCT/stNEAR

  1. Withdraw all funds from the existing OCT/wNEAR farm
  2. Withdraw all liquidity from the OCT/wNEAR pair
  3. Convert the NEAR you just withdrew into stNEAR by either —
  • Deposit your into the platform of metapool.app
  • Swap stNEAR on the existing stNEAR/NEAR pool
  1. Select OCT and stNEAR and deposit liquidity to the pool.
  2. Deposit the LP OCT/stNEAR into the farm.

Looking forward to keep supporting the NEAR Protocol be more capital efficient.

We will follow up with a community post explaining the reasons why stNEAR is more capital efficient than wNEAR.

Happy staking and farming!

4 Likes

Putting DAO proposals into consideration, I don’t think we can launch it at 14th. Please give 1 or 2 days for farm creation and reward deposit.

1 Like

The final numbers are:

  • OCT <> stNEAR
  • 1240 OCT / week (approx $20125 / month)
  • 115,000 META / week (approx $20125 / month)
  • 5,748 REF /week(approx $40250 / month)
  • Duration: 60 days
  • Launch: February 16, 2022

DAO Proposal