TL;DR
- “Kickstarter for NEAR”, Meta Yield, successfully completes fundraising campaign with PembRock
- 80 backers locked 168,000 $stNEAR, or roughly $1m USD, to support PembRock Finance
- DAOrecords will be the next project to launch a fundraising campaign on Meta Yield
Meta Yield, the “Kickstarter for NEAR”, Tackles the Issue of Risk in a Crypto Bear Market
After the completion of its first campaign, Meta Yield is already proving its value to both backers and projects on the NEAR ecosystem.
Meta Yield, the “Kickstarter for NEAR”, is unique because it allows members of the NEAR ecosystem to financially support developing projects without risking their tokens.
Web3 projects need capital that can be deployed with confidence in a bear market that has seen a significant decrease in available funds. While launchpads like Skyward have served Meta Pool and various other projects well (including PembRock), there is a new demand for less risky and less volatile fundraising process.
In essence they are not fulfilling the same goals as Meta Yield. They are different approaches.
From our perspective, a launchpad that is focused on trading NEAR for another project token is not much different then swapping them on a DEX/AMM.
We want to build a long term commitment relationship (don’t worry it’s not marriage) between NEAR token holders and projects. This is why Meta Yield works as a fundraising mechanism where people can support crypto projects without losing their tokens.
We believe that supporting projects with NEAR staking rewards is the best way. This offers a long term view on building utility for a project’s token instead of just trading it for short term value creation.
And besides supporting a project on Meta Yield, NEAR tokens from the backers will make the network more decentralized and censorship-resistant.
PembRock Marks the First Completed Project on Meta Yield
PembRock Finance was the first project to launch on Meta Pool’s new fundraising platform, Meta Yield. After launching on May 11th and in just 3 weeks the project raised over 168,000 $stNEAR from backers
PembRock is a leveraged yield farming platform allowing members of the NEAR ecosystem to stake, farm, and leverage their capital to increase their rewards. Their successful fundraising campaign shows that DeFi users are still looking for ways to expand their capital. Even as it rises and falls sharply in USD value.
After the recent market crash, it’s more important now than ever before that members of the NEAR ecosystem can find a way to support developing projects, and keep their capital relatively liquid.
While Meta Yield does lock your capital, users receive the native token of the project they are supporting. After PembRock met their second goal, 1.275m $PEM tokens were set to be distributed among users over a 6 month period. In addition, after the lock period ends all backers will get back all the NEAR they staked.
Thus making Meta Yield, the “Kickstarter for NEAR”, a zero-risk fundraising platform for the NEAR ecosystem community.
What’s Next for Meta Yield?
After demonstrating its success, the team at Meta Yield are already moving on their next project. The SoundSplash Alpha project by DAOrecords is a Metaverse Music Event Series, featuring NFT drops.
DAOrecords‘ fundraising campaign is set to launch next week.
Stay tuned for more information about it!
About Meta Pool & stNEAR
Meta Pool is the leading liquid staking solution for $NEAR and wNEAR token holders to earn staking rewards and maintain their liquidity to participate in DeFi protocols on NEAR and Aurora.
Users staking $NEAR and wNEAR with Meta Pool receive in exchange a NEP-141 standard token, stNEAR (staked NEAR).
stNEAR simultaneously accrues staking rewards and unlocks users’ liquidity enabling them to participate in DeFi activities (e.g. lending, farming, borrowing) on NEAR and Aurora.
Stake $NEAR on Meta Pool
~11% APY
Get stNEAR
Yield-bearing token
Go DeFi on NEAR & Aurora
More APY and more rewards
Meta Pool solves the problems associated with Proof-of-Stake networks staking: illiquidity, immovability and accessibility. Meta Pool also aims to distribute staking in multiple validators to improve censorship-resistance of the NEAR network.
With a TVL of ~9 Million $NEAR 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.
Join Meta Pool & stNEAR Community
If you have any questions or wish to be part of our project, don’t hesitate to join our official platforms and reach out to the team!
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