TL;DR
- Cheddar is launching a fundraising campaign on Meta Yield
- The campaign will launch July 27th, 5AM UTC
- Cheddar is a loyalty protocol for NEAR dApps
- The funding will help expand current efforts and provide greater rewards to users
Overview
It is finally time to announce the launch of another fundraising campaign on Meta Yield. While it has taken some time to organize a new partnership, we have been committed to engaging projects on the NEAR ecosystem that are committed to building, and have a track record of dedication to users. Thats why we have decided to partner with Cheddar!
We will explore what exactly Cheddar is, why it is beneficial to the NEAR ecosystem, and give a general overview of the project. We will release a deep dive into their tokenomics and functionality as the campaign launches, so be sure to keep an eye on our blog for more information. If you want to read more about Meta Yield and our past partners, click here.
What is Cheddar?
Cheddar is a loyalty protocol on NEAR that provides fun and low risk ways to learn NEAR, crypto, and DEFI. Cheddar rewards loyal users with $Cheddar and other tokens through its partners, farm, and games.
New and Loyal users to the NEAR ecosystem receive $Cheddar by holding partner tokens, participating in games, farms and partner integrations. Their project creates stickiness for dApps and the NEAR ecosystem by creating deeper holder value with rewards for their loyalty.
Cheddar offers incentives to use new and upcoming projects and their tokens, and adds value to the NEAR ecosystem and its users. By providing loyalty incentives, Cheddar is working to create long term user engagement, dApp interconnectedness, and built TVL across NEAR projects.
Because Cheddar can be seen as a project that truly works toward the “common good” of NEAR users, we are committed to helping them meet their campaign goals. Their team plans to use the funds for further marketing to communicate their message around the NEAR network, developing their protocol, and increasing the rewards and incentives they currently offer.
About Meta Yield
Cheddar marks the third campaign to be launched on our fundraising platform Meta Yield. The first two launches, DAOrecords and PembRock finance, both met their tier 1 goals and concluded their campaigns successfully.
When the market is down and funds become limited, Meta Yield’s utility becomes more apparent than ever. We offer a means of supporting NEAR network projects that you truly believe in without risking your tokens. Instead of traditional fundraising like you would find on Kickstarter, Meta Yield allows a user to give their $stNEAR to a project so they can harvest the APY generated through staking. Once the project concludes – you get your tokens right back.
We are committed to providing solutions to NEAR protocol users, even in a bear market. It’s necessary that our community continue to build value and expand upon the best L1 chain in the market – and Meta Yield helps do just that. Even in the darkest of markets we will keep building so you can keep staking.
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.
