Steps to transition from NEARx to stNEAR

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TLDR;

  • Stader Labs is sunsetting NEARx.
  • Meta Pool DAO can help NEARx token holders to continue staking.
  • mpDAO tokens for eligible NEARx delegators.

Everyone in crypto is facing difficult situations, all blockchain projects and protocols are going through lots of changes and making difficult decisions. We have learned through their governance snapshot that Stader Labs has decided to leave the NEAR ecosystem and we wish them well in their venture to support other Proof of Stake blockchain projects. They have a great team and we know they will find more opportunities in the future.

When we started building Meta Pool more than two years ago, we understood that building on permissionless blockchain protocols is a difficult endeavor and success is not guaranteed. In August 2021 we decided to launch on NEAR Protocol mainnet and it was a great surprise to see how being the first liquid staking solution was a good advantage that allowed us to kickstart the DeFi ecosystem on NEAR Protocol.

We believe that diversity is important and blockchain protocols should strive to be a source of growth for many other protocols that want to participate in their ecosystem, so in 2022 the NEAR ecosystem became more diversified in liquid staking solutions when Stader Labs announced that it would be offering their liquid staking derivative by introducing NEARx.

Now that Stader Labs announced that they will be sunsetting their liquid staking platform, we are inviting all NEARx holders to become part of the Meta Pool DAO.

Steps to be part of the Meta Pool DAO

  1. Unstake your NEARx from Stader Labs, here is a link that shows you how.
    1. If you have locked accounts, here is the link.
  2. Once the cooldown/unbonding period has finished, you can retrieve your NEAR tokens.
  3. Head on metapool.app and stake your NEAR; we support locked accounts as well.
  4. For unlocked NEAR, stake on on metapool.app and then use stNEAR in any of our partner protocols – DEXs and Lending platforms.

Fill out this form in order to be eligible for an allocation of our governance token mpDAO, exclusively for NEARx token holders that delegate their NEAR to Meta Pool.

Competition drives innovation

Competition is always good and we understand that it is a necessary step in maturing a blockchain ecosystem and NEAR Protocol has to grow. Stader Labs has a solid project and backers that made the Meta Pool DAO increase its competitive advantage. So we decided to build and deliver on solid foundations that allow stNEAR to have key value propositions that made it the key liquid staking token on NEAR Protocol.  

At NEARCON 2022, we participated in a Staking panel discussion with them and we knew that even though they had a difficult start on the NEAR Protocol blockchain, they had a great team that could deliver solid blockchain technology. So they were always an inspiration for us to become more competitive and doubled down on our vision for liquid staking.

Security being one of them and that has kept stNEAR as one of the more solid tokens on the DeFi ecosystem on NEAR and Aurora, with several audits from Blocksec and Halborn that you can read in our documentation.

Why should you delegate to Meta Pool: community driven

Being community first and driving value from the liquid staking token into our governance through Meta Vote is a core principle at Meta Pool, where validators could vote to allocate a good percentage from the close to 14,000,000 NEAR being delegated through our governance mechanism. Now with our Meta Pool Improvement Proposals (mpIP) the community has a way to manage the protocol and allow full transparency with onchain voting in the Meta Pool DAO.

No other liquid staking platform on NEAR Protocol has a DAO first approach to driving initiatives and we stayed on our vision to put our community front and center of everything the Meta Pool DAO does. So we decided to distribute all protocol fees from the liquid staking platform into the hands of the community, which are funding growth and education initiatives that will allow our liquid staking protocol to expand globally with more than 20 ambassadors all over the world.

It was a great experience and we are blessed to have received such valuable support from the different organizations, projects, individuals and other protocols that allowed us to become one of the key projects in this ecosystem, also jumping on board to support Ethereum Virtual Machine (EVM) blockchain´s such as Aurora with strong collaborations with DEX´s and Lending/Borrowing platforms.

So we are inviting NEARx token holders to be part of our DAO and for those delegators that hold NEARx and have decided to start delegating to Meta Pool.

Keep on staking!

Follow our official X and Telegram accounts for the latest event news, schedule releases, and more exciting announcements. 

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