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Updates to Meta Pool’s Operator Fee Schedule

Staking rewards and liquidity pool fee structure update

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TL;DR

  • Meta Pool charges a small operator fee to support protocol, and this fee will change July 1st.
  • Operator fees are increasing to 4%, still below the 6% average for other liquid staking solutions.
  • Update of our fee schedule is in line with reviewed tokenomics we are releasing later this week.
  • This change doesn’t require the validator or users to take any extra steps.

Overview

We are introducing minor changes to our operator fee schedule to be able to ensure that the protocol is self-sustaining. As we continue to build and ship products and features that add value to users, it is important to ensure that the protocol is capturing some of the value it creates. 

What is the Operator Fee?

In simple terms, the operator management fee is a small percentage we charge in exchange for providing liquid staking services. This percentage is deducted from the rewards received, not the full balance staked. Let’s give a simple example:

  • Ana stakes 100 NEAR with Meta Pool. 
  • Meta Pool delegates the 100 NEAR across many validators.
  • If the Staking Rewards from the protocol are ~10%, Ana will receive 10 NEAR over a one year period.
  • Each validator charges a small fee. For this example, let’s assume the average is 5% *of the Staking Rewards*: so in one year, Ana would (automatically) pay the validators 0.5 NEAR out of the 10 she’s earned. 
  • Meta Pool also charges a small Operator Fee. After the most recent update, with an Operator Fee of 4%, Ana would pay Meta pool 0.4 NEAR over one year.
  • In total, Ana would be paying a total of 0.9 NEAR out of her 10 NEAR Rewards.
Meta Pool banner for Meta token changes announcement

Bootstrapping Phase

We launched on August 23rd 2021 and we are already preparing for our 1 year anniversary. 

Up until now we have been bootstrapping, moving fast and doing what is best for the community to grow into the next stage.

One of the strategies for launching without any funding or grants was to keep the fees for NEAR token delegators at 0.5% as a way to deliver all the value accrued by the Meta Pool protocol in the hands of our supporters while also having very generous $META distribution to early users.

Operator fee general graphic

Sustainable Growth Phase

We have now reached the point where we need to make some minor changes to the fees structure, increasing the fees to 4% which will enable us to cover operational expenses and continue building innovative products for the NEAR ecosystem.

We’ve carefully considered all the current trends and offerings in the market and we believe that this is still a very reasonable and competitive fee.

We strongly believe in our products and the value we are unlocking by enabling the user to have access to an ever growing number of opportunities across the ecosystem.

Delivering Solutions for $META Holders

This week we will make a few announcements regarding our renewed tokenomics which will cast a better light on the ways in which the changes to the current fee structure will align the interests of all members of the community that hold $META.

We are also releasing a mechanism where $META token holders can exercise their voting rights through a unique voting experience. 

Staking it ’til you make it!

About Meta Pool & stNEAR

Meta Pool is the leading liquid staking solution for $NEAR and wNEAR token holders. With Meta Pool you earn NEAR staking rewards and maintain your liquidity to participate in DeFi protocols on NEAR and Aurora.

Users staking $NEAR and wNEAR with Meta Pool receive in exchange stNEAR (staked NEAR) tokens.

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 also 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. Meta Pool is making NEAR Protocol more decentralized and therefore more secure.

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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