- On May 4th Meta Pool launches staked Aurora (stAUR) on mainnet, the first native Liquid Staking token for the Aurora blockchain.
- This release is part of the launch of the larger Meta Pool Ecosystem and governance.
- Meta Pool continues to pioneer what can be done on the NEAR and Aurora blockchains.
As builders on the NEAR Protocol and Aurora blockchains, we’re thrilled to announce the upcoming launch of staked Aurora (stAUR) on mainnet; the first native Liquid Staking token for the Aurora blockchain.
“We are delivering a Liquid Staking Token that will increase Aurora’s total value locked, so stAUR can unlock more DeFi opportunities for Aurora token holders.” – Claudio Cossio, Meta Pool co-founder.
After running smoothly on the NEAR protocol for more than 20 months, we set out to deliver a solid Liquid Staking platform for Aurora. Now DEXs (Decentralized Exchanges) will be able to leverage the benefits of a self-accruing token on the Aurora blockchain.
As on all blockchains, staking allows users to accrue rewards by delegating its tokens to the node operators and helps to secure the network through proof-of-stake protocols. The difference here is that the Aurora node generates NEAR staking rewards that get swapped for Aurora tokens.
Earlier this year, we announced our support for Ethereum Virtual Machine (EVM) networks with a partnership with SSV Networks and thus, adding the launch of Ethereum staking to our roadmap. Our development team experimented while building the smart contracts for the Distributed Validator Technology (DTV) and discovered a clear opportunity to support Liquid Staking for the native Aurora token.
After a few weeks of mapping out the project, we had proof-of-concept and headed to ETHDenver to put it all together. Our team won 1st prize for the Aurora bounties in the ETHDenver hackathon, with our project Aurora Staking pool.
Partnership with SSV Network
Added the launch of Ethereum staking to our roadmap.
Smart contracts for the Direct Validator Technology (DTV)
Discovered an opportunity to support Liquid Staking for the native Aurora token.
Our team won 1st prize for the Aurora bounties in the ETHDenver hackathon, with our project Aurora Staking pool.
New Meta Pool ecosystem
Liquid Staking for Aurora is part of the launch of the new Meta Pool ecosystem.
The new Meta Pool ecosystem
The release of Liquid Staking for Aurora is part of the launch of the Meta Pool ecosystem. This is an effort to bring all our products and services under one decentralized application (DApp) that is connected to multiple blockchains.
Meta Pool ecosystem will allow ease-of-use for new and advanced blockchain users that want to experience what a DApp should do and how it delivers value for NEAR, Aurora and Ethereum token holders.
Part of the new roadmap is the release of our Governance V.0.1. This sets Meta Pool apart from any other Liquid Staking platform on NEAR Protocol and all EVM compatible blockchains. We’re delivering on our promise to put META token holders front-and center of everything we deliver. We do this by building a decentralized platform that delivers value for token holders that stake and participate in the governance of our Liquid Staking platform.
How does it work?
Right now current Aurora token holders who stake do not have mobility for their crypto assets. If they want to get tokens and staking rewards there’s a wait time of around 48 hours. This is designed to give Aurora nodes time to capture staking rewards to deliver on their APY.
For this reason, delegators must lock their tokens for a chosen amount of time in order to retrieve part of the rewards or all their tokens. This process, called unstaking, requires that tokens have to undergo a “cool down period” in order for the delegators to claim their Aurora.
A Liquid Staking Token (LST), allows the delegator to mint a token representing their Aurora staked plus accrue rewards which are estimated to be from 14% to 19% APY. For more information, you can review the Aurora governance post.
One way Meta Pool generates revenue for the DAO is through a fee that allows stAUR token holders to unstake their tokens and rewards immediately. This feature is called ‘fast unstake’ and has a fee of 2%.
Meta Pool continues to pioneer what can be done on NEAR and Aurora blockchains. The Liquid Staking token stAUR supports the Aurora ecosystem and brings more liquidity into the EVM compatible blockchain. This increases capital efficiency and mobility for the Aurora tokens and unlocks more value creation opportunities in the Aurora and NEAR ecosystems.
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
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.