[Farm] Phoenix bonds: pNEAR<>NEAR

Project Description

Phoenix Bonds - a novel bonding game built on LiNEAR protocol.

Phoenix Bonds is a principal-protected bonding platform that helps protocols with liquidity-bootstrapping and provide perpetually-boosted yield to users.

$pNEAR is an NEP141 token that is minted when users forgo their bonded $NEAR to the protocol and claim $pNEAR. Since $pNEAR can always be redeemed proportionally for $NEAR in the Reserve bucket, the $pNEAR token captures extra rewards generated by $NEAR that’s outside the Reserve, creating an amplified yield.

Project plan/development

The first version has been launched for $LiNEAR, the staking derivative token of LiNEAR Protocol. In the future, Phoenix Bonds can work with all yield bearing assets, it could be used for increasing token stake rate or funding lending markets.

Farming goals

Support initial liquidity of $pNEAR token on Ref Finance with a $pNEAR <> $wNEAR pair.


Pair : $pNEAR <> $wNEAR

Type : Dual Rewards

$LiNEAR : 250 / week

$REF : 2000 / week

Length : 28 days

Estimated Starting Date : February 1st

Targeted TVL : $500k+

Targeted APR : 40%+


Would love to partner and work tgt. A few questions:

Has the $pNEAR <> $wNEAR pool ever been created? If not, I think it will be good to see how the pool trade/LP provided before having any incentive. Also, can you elaborate on how you derive the REF and LiNEAR weekly token reward (where does the number come from, backtest, historical data or etc…)? Thanks

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$pNEAR <> $wNEAR pool will be created on January 31st. It has no reference project or pool to an example. Phoenix bonds’ TVL now is 1.3M$ and will go up to 2.5 M$ in the next 10 days.

The $LiNEAR for incentives will be come from the staking rewards( estimated 2.5k~4k $LiiNEAR) in bootstrap period and commission fee which is collected upon claim on every bond.

Pair : $pNEAR <> $wNEAR
$LiNEAR rewards: 250 / week
1000 $LiNEAR in total for 28 days (whole Feb)

Would it be possible for someone from the team to join the weekly Community Call to explain how it works and answer questions.

So far neither myself nor anyone I’ve spoken with understand how Phoenix Bonds works…

Some immediate questions that come to mind -

  1. Linear-NEAR stablepool on REF has just under $200k in TVL with only REF incentives. Is the $500k TVL for pNEAR-wNEAR realistic? Would it make more sense to allocate rewards to Linear farm?
  1. How much of the current TVL is owned by Linear? How of it will be owned by Linear when it 'goes up to 2.5m in the next 10 days?

Looking forward to meeting w someone from team to get a better understanding of how pNEAR works.