TL;DR
- Cheddar’s fundraising campaign is LIVE on Meta Yield
- Find out how much you can earn by supporting Cheddar on Meta Yield
- We take a look at the most rewarding promos on Cheddar
- We want to give our users a clear picture of the value Cheddar brings, and the potential they have to explode growth on NEAR DeFi
Overview
Today marks the launch of our new fundraising campaign with Cheddar on Meta Yield! We are incredibly excited to share with our users the chance to support a valuable project while giving them another chance to earn crypto.
There are a lot of reasons to support Cheddar, and ways you can already earn with their project. Be sure to give our previous articles a read if you haven’t already gotten familiar with what Cheddar is already accomplishing around the ecosystem. We hope that this article will give users a little insight on the yields and rewards possible through Cheddar Farm, and give you a breakdown of the benefits of supporting a project on Meta Yield.
Why Should you Support Cheddar on Meta Yield?
Our platform Meta Yield is designed to be a kind of “kickstarter” for NEAR projects and dApps. A user can donate their stNEAR to a project on Meta Yield for a certain number of months, and in return receive their native token. After the lock period, users get their stNEAR back in full – the only thing going to the project is the yield those stNEAR were earning. Its a truly risk free way to support NEAR’s growing community.
Unlike kickstarter, Meta Yield is not just designed for those who want to give out of the kindness of their heart. In our fundraising campaign with Cheddar Farm, up to 1.5m $CHEDDAR are available to supporters. These tokens will be given proportionally to the number of stNEAR you give, and get larger as the campaign progresses.
For example, the users that give the first 10,000 stNEAR will be receiving 7.62 CHEDDAR per stNEAR that they give. The full breakdown of tokens for supporters and campaign goals is as follows:
10,000 stNEAR — 7.62 Cheddar per stNEAR
40,000 stNEAR — 7.75 Cheddar per stNEAR
85,000 stNEAR —- 8 Cheddar per stNEAR
125,000 stNEAR— 11 Cheddar per stNEAR
While these initial rewards from supporting Cheddar’s mission of bringing even more value to DeFI on NEAR are good – the best opportunities will be the ones Cheddar makes happen!
Cheddar's Farming Opportunities
Cheddar’s farms are one of their unique aspects that makes their project so valuable for DeFi beginners. They offer farms that are shielded from impermanent loss which makes sure you don’t lose it all on your first degen move. They have had a number of active farms with NEAR native tokens like $REF and $PULSE, which are core ecosystem assets.
There are currently 2 active farms on Cheddar – Ref+BRRR+Cheddar and Meta+Cheddar. In the Ref, Burrow, and NEAR pool you can earn over 210% APY. The farm that has Meta Pool’s token $META and Cheddar has a current APY of 232% – with just 0.3% fees. These pairs are just some of the assets they are supporting, with many more farms in the works.
Even More Rewards
One reason we support Cheddar is because they are more than just a farm. We want to give you some insight to the other rewards and incentives they’re already offering around the NEAR ecosystem.
Cheddar is partnering with NEARHub, a native metaverse. They are currently offering a scavenger hunt around a virtual metaverse – and whoever can find the most cheddar will earn rewards! The winner will also receive a Cheddar powerup, which will give them a farming boost! You can check out more about the scavenger hunt and find the NEARHub metaverse link here.
Cheddar is also partnering with Classy Kangaroos – a coin flip dApp that lets you go double or nothing on your tokens! Essentially, you’ll be able to flip a coin with your tokens on the line and have the chance to double them.
You can find the Classy Kangaroos and Cheddar twitter accounts and check out the announcement here for more information on plans for a mainnet launch! For more information about Cheddar Farms you can visit their website, and check out our deep dive on Cheddar’s vision and mechanics.
Please support our fundraising campaign with Cheddar on Meta Yield as it continues – and remember that the higher the goal gets, the more value per stNEAR contributed.
Go stack that Cheddar and Keep on 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.
