TL;DR
- Major partnership between RIFT Finance, Trisolaris, Proximity Labs and Meta Pool to unleash deeper liquidity and more rewards
- New stNEAR<>TRI vault launched on RIFT today, April 20th (opening for public deposits in a few weeks)
- RIFT vault enables single sided deposits of stNEAR into the stNEAR<>TRI pool
- Higher rewards and no impermanent loss.
Money Legos on Aurora: Stronger Together
Today Trisolaris, Meta Pool, and RIFT Finance are excited to announce the launch of an unprecedented stNEAR<>TRI liquidity pool integrating their “Money Legos” on Aurora, the Ethereum Virtual Machine on NEAR.
The goal of this partnership is to create a new lucrative yield opportunity in the NEAR ecosystem through the development of an innovative product.
Additionally, Proximity Labs, the DeFi investment arm of the NEAR ecosystem, has also partnered with these protocols to provide liquidity as a service.
Today, Meta Pool’s stNEAR is a core component of all major DeFi protocols on NEAR, enabling stNEAR owners to unlock more rewards. We are nevertheless always on the lookout for novel ways to expand the utility of the stNEAR token across the ecosystem.
Trisolaris, a decentralized exchange (DEX) on Aurora, has launched this new stNEAR<>TRI liquidity pool to grant their community members easy access to the TRI token by swapping stNEAR.
The third, and not the least, money lego block integrating this stNEAR<>TRI equation comes from RIFT Finance. Rift is a novel form of protocol-owned liquidity that empowers DAOs to achieve sustainable liquidity in a single transaction, without needing to give up ownership of their governance tokens.
Together, they are releasing the first RIFT vault for the stNEAR<>TRI liquidity pool, enabling single sided deposits of stNEAR thus eliminating the risk of impermanent loss and increasing the amount of rewards (opening for public deposits within the next few weeks).
How It Works - High Level Overview
RIFT is the tool Trisolaris and Meta Pool are using to bootstrap the new liquidity pool. RIFT allows Trisolaris to source liquidity for the TRI token with ease.
It creates a passive and straightforward experience for DAOs and liquidity providers by abstracting away the complexity of DEX positions on both sides. RIFT Vaults will be opening for public deposits within the next few weeks, granting the ability to earn 2x returns and downside impermanent loss protection.
This new stNEAR<>TRI pool leverages the RIFT protocol to enable users to lend their crypto assets in a de-risked way by protecting them from Impermanent Loss and benefit from the exponential growth of the Aurora DeFi ecosystem.
Capital has been flowing quickly into the NEAR ecosystem. This launch follows NEAR’s April fundraise of $350M in a round led by Tiger Capital. Recently, Trisolaris raised $4.5M in a strategic investment round led by Electric Capital, with participation from Jump Crypto, Dragonfly Capital, Leminscap, Ethereal Ventures, and a few strategic angels.
We are now seeing composability in action on the NEAR DeFi ecosystem and we hope this will usher in a new wave of innovation.
What's Next
The new liquidity pool is launching on April 20th, 2022. The benefits for Liquidity Providers (LPs) are multiple. RIFT Finance will:
- Enable Liquidity Providers to only provide stNEAR (cf. traditional pool that would require user to add 50/50)
- Protect Liquidity Providers from impermanent loss risk,
- Reward Liquidity Providers with double reward ($TRI, $META)
And, obviously, Liquidity Providers do maintain the accrued interests born by their stNEAR provided to the pool!
For more information, visit the RIFT Web Application..
Meta Pool, Trisolaris, Rift Finance, and Proximity Labs will co-host a Twitter Spaces to discuss this partnership next week.
Make sure to follow us on your favorite channel to stay tuned!
About Trisolaris
About Rift Finance
About Meta Pool & stNEAR
Built on the NEAR Protocol infrastructure, Meta Pool is the leading liquid staking solution for $NEAR holders to earn staking rewards and maintain their liquidity to participate in DeFi protocols on NEAR and Aurora.
stNEAR (staked NEAR) is the yield-bearing token handed to stakers to unlock the liquidity of their $NEAR staked on Meta Pool.
Stake $NEAR on Meta Pool
~11% APY
Get stNEAR
Yield-bearing token
Go DeFi on NEAR & Aurora
More APY and more rewards
With a TVL of $120 Million USD and growing, Meta Pool has become in just a few months a cornerstone element of the NEAR ecosystem, making it more decentralized and therefore more secure, as well as making $NEAR liquid.
In February 2022 Meta Pool has been successfully audited by BlockSec, confirming the implementation of the highest security standards.
For more information visit https://metapool.app.
Disclaimer: the Information contained in or provided from or through the Meta Pool website and blog is not intended to be and does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website’s content as such.
