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Liquid Staking on NEAR for Financial Institutions: Meta Pool Integrates with Finoa Custodial Services

Liquid Staking on NEAR for Financial institutions through Finoa Custodial Services

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TL;DR

  • Meta Pool is integrating with Finoa regulated custodial service
  • Financial institutions, corporations and high net worth individuals, will have now access to liquid staking on NEAR through Meta Pool
  • Important effects for everyday users, and for potential ecosystem growth

Overview

Meta Pool, #1 platform for liquid staking on NEAR, is excited to announce the integration of Finoa’s custodial services, the leading regulated European custodian for digital assets.

Finoa is a qualified crypto-asset custodian (§64y Para. 1 KWG) and is supervised by the German Federal Financial Supervisory Authority (BaFin). Finoa offers its customers secure access to custody, staking, trading, and DeFi.

As a regulated custodian, the company serves high-profile customers around the world, including renowned venture capital firms, large corporations, and financial institutions.

This development will allow high networth individuals, institutions, and large organizations to stake NEAR tokens through Meta Pool. In short, we are opening the door for big players to enter the ecosystem we have worked so hard to help build. 

This development will enable institutional investments in NEAR protocol’s native asset ($NEAR) from investors looking into a hefty ~9.6% staking APY. Moreover, thanks to Meta Pool liquid staking smart contract, investors with exceptional risk tolerance could seek exposure to decentralized finance (DeFi) with Meta Pool’s
Liquid Staking Derivative (LSD) token stNEAR.  

Liquid Staking on NEAR through Finoa's Custodial Services

Meta Pool recognizes not only the importance of bringing venture capital firms, large corporations, and financial institutions to  NEAR protocol, but also the challenges this represents. 

Since launch Meta Pool has been continuously investing massively in the security of its smart contracts, solidifying itself as the most secure, decentralized, and transparent liquid staking service on NEAR over the last few months.

Custodial Services on NEAR from Finoa and Meta Pool

Meta Pool has a zero compromise policy on security, and being the first dApp in the NEAR ecosystem to offer services to high-profile customers, we wanted to work and integrate with the best and most secure custodial services in the space.

We are excited to partner with Finoa and become a gateway for these organizations to leverage liquid staking and the opportunities given by our LSD token stNEAR. We have no doubt that Meta Pool’s reliable and secure liquid staking smart contract  is the perfect fit for Finoa’s customers: they will be able to enjoy one of the highest staking APY (~9.6%) currently available in the market and at the same time dwell into NEAR decentralized finance (DeFi) space, leveraging liquid staking derivative stNEAR for some additional APY.

Custodial Services Explained

Finoa was the first institutional-grade custodian to support custody and in-custody staking of NEAR. Since day one of mainnet launch, Finoa has enabled institutional token holders to securely manage and stake their NEAR allocations. Now, by integrating with Meta Pool, Finoa will be contributing to the decentralization of the NEAR network while protecting its strict security standards.

Bringing Finoa to the NEAR ecosystem is a massive leap forward towards the adoption and trading of NEAR tokens by financial institutions and businesses. It will allow institutional users to now access the NEAR Protocol’s fast and low-cost sharded proof-of-stake blockchain safely and securely.

“We’ve been supporting the NEAR ecosystem since day one, and are excited to work with the Meta Pool team to further enable institutional participation, growth, and decentralization of the network.”
Custodial Services on Finoa allow custodial liquid staking on NEAR through Meta Pool
Henrik Gebbing
CEO & Co-Founder of Finoa

A key part of understanding how custodial services work is understanding why clients want custodians. The primary and most important reason is security. Any individual or organization holding millions of dollars in crypto assets is rightfully wary of a simple web wallet that can be hacked, or a hardware wallet that can be lost or stolen. Finoa fills this gap by providing a platform for holding assets with enterprise-grade encryption and security standards. 

Institutions and organizations also commonly have additional support and management, which Finoa provides. Within asset custodians, the UI and UX are critically important for ensuring that your customer has a seamless experience. We are proud to integrate with Finoa, who has an incredibly smooth interface, and a wide range of supported assets. 

The Value of Custodial Services for Everyday Users

As an individual user, the advantages might not seem obvious. However, there are a number of potential benefits that could be felt throughout the ecosystem as the result of this integration. Even more broadly, these types of integrations during a bear market are vital for the health of any L1 chain.

This most important result for the NEAR ecosystem of this integration is the potential for new liquidity to enter. Meta Pool now makes it possible for anyone holding large amounts of NEAR tokens to securely and seamlessly stake them in a network of secure validators. This is critical to both the decentralization of the network and the real world adoption of the value that NEAR creates. 

Further, users of Meta Pool should have reason for excitement. We are constantly working on building utility for our native asset $META. Over the coming months we will announce the release of Meta Staking Vote, which will be designed to allow community members to help determine which validator nodes receive a portion of the total delegation. As our integration with Finoa is aimed at bringing additional TVL to our platform, this will mean that our token holders will be in control of an even larger portion of our total delegation. 

Disclaimer: 

This article does not intend 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 article’s content as such. 

The trading of cryptocurrencies has potential rewards, and it also has potential risks involved. Trading may not be suitable for all people or organizations. Anyone wishing to invest should seek his or her own independent financial or professional advice.

Please refer to full disclaimer at: https://blog.metapool.app/disclaimer

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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