We are definitely approaching a very important milestone for the Meta Pool liquid staking protocol, we are now ready to deliver on what we have committed to our community and the NEAR Protocol ecosystem – a protocol by the community for the community. It has been a great journey so far and the support from everyone has been very gratifying.
When we embarked on delivering a liquid staking token on Ethereum we understood that it was not something trivial and that we would be facing some interesting challenges. That is why we continue building during the last two years and now we are ready to deliver on the vision of a protocol that puts the community front and center, where value accrual lies in the hands of those contributing to the growth of the Decentralized Autonomous Organization (DAO).
For us to deliver as much value to governance participants as possible, we are building a multi-chain governance infrastructure that will allow us to onboard as main blockchain protocols as the DAO wants to engage with, this is part of our plan to build a sustainable model for our liquid staking protocol. As more blockchains are supported, more protocol staking rewards fees will be distributed to governance participants.
Value at the hands of our stakeholders.
Not all protocols are delivering value directly to their users and applications leveraging them, we wanted a simple mechanism that can be verified on-chain and that will allow us to provide as much transparency as possible.
Last year we announced that we would be decentralizing the treasury and allocating 50% of all protocol fees to a grants program and the other 50% to governance participants. Since then our protocol has distributed more than 24,000 stNEAR liquid staking tokens (stablecoin value of $220,000+) which is the most value distributed by a DAO in DeFi in all the NEAR ecosystem.
We are closing the first quarter of 2024 with some great milestone achievements, we will be publishing a recap soon about it. Here is a TLDR;
- Multi-language in our application
- Support for Solana liquid staking.
- Funded campaigns on Gitcoin and Giveth.
- Delivered more than $20,000 USD in grants through our DAO.
- Launchpad has been postponed, still reviewing projects.
Every milestone delivered was through the support of everyone staking their Aurora, Ethereum and NEAR on our platform. The community is driving value to our stakeholders, which is setting the right momentum to continue the growth of the protocol.
What is coming for Q2 2024?
We are about to deliver multi-chain governance in the second quarter of 2024, this is something that no one has done in the NEAR and Ethereum ecosystems.
These are the most important milestones to deliver from April to June:
Product
- Vote to Earn
- Support for EVM wallets
- Oracles
- API3
Protocols
- L1 – Internet Computer Protocol
- L2
- Linea
- QiDAO – Lending
- Lynex – DEX
- Mendi Finance – Lending
- Mode
- Ionic – Lending
- KIM – DEX
- Linea
DAO Governance
- Multi-chain support
- mpDAO – Ethereum Mainnet
- mpDAO Grants 7
- +10,000 stNEAR (approx $80,000 USD) in funding
The outstanding milestones to discuss will be Vote to Earn feature, which will allow mpDAO tokens on Ethereum Mainnet to vote on the Meta Pool DAO governance and earn the protocol fees. We will be releasing more information about the design of the multi-chain support on April 15th.
We are grateful for all your support through this process of our tokenomics reset and we are very close to delivering on what the community has voted and discussed. Now we are looking into what a multi-chain governance will look like and more importantly, help pave the way for other protocols to follow this path.
Keep on Staking!
Claudio & Lucio.
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