24–48hr update: NEP-141 tokens wallet support & harvesting META
The last 48 hours have been amazing, we are truly humbled by the experience of launching on NEAR Protocol. We had a couple of issues during the first leg of the Community Launch, we feel that they need to be communicated properly.
First, thank you everyone for believing in what we are building. We appreciate all the comments and feedback from Meta Pool users that have shared their concerns with the team on the Discord server.
Getting META and stNEAR on NEAR wallet.
During our beta testing period, users did not had any problems seeing the NEP-141 tokens in their testnet accounts. During the launch we experienced some issues to make META and stNEAR visible in token holders web wallets, thanks to the dev team we provided a quick fix for this….it is not pretty but gets the job done.
The process is straight forward:
- Go to your Meta Pool account. The big blue button.
2. You click on the buttons Add stNEAR and Add $META
What the dev team have implemented is that we trigger a transaction of 0 NEAR to the users NEAR web wallet (it will return an error) and this will automatically add the NEP-141 tokens to their NEAR account.
Important: You have to sign the transaction, if you abort the process the tokens will not get added.
As everything that is built on crypto, protocols are still in Beta and Meta Pool is no exception. The team will work on a much cleaner implementation, we are coordinating this with the NEAR Wallet team.
Harvesting META tokens.
So as stakers and liquidity providers started to allocate their NEAR tokens into the protocol they started to notice that the rewards where not increasing.
We did not provide more information on the mechanism for harvesting META tokens, through the beta testing cycle we did not get any questions regarding the harvesting of the tokens. So we want to explain how harvesting META tokens works, since the process is not automated by design because we wanted to get proof of protocol usage.
Note: We will work later on an automated process ;)
- Token holders need to harvest META through the harvesting button in their Meta Pool account. Click the blue button to access your Meta Pool account.
2. You will see a button — Harvest. Users will have to click on it at least once per day in order to harvest their META tokens
3. The META tokens will be sent to the users web wallet.
We know that this process is cumbersome and we are working on making it seamless.
Limited META during Community Launch
As you know there is a limit to the amount of META being minted during each period of the Community launch, so make sure you harvest the META assign to you. Please review the Tokenomics page.
Unstaking for fun and profit.
We put in place a cap to the amount of META earned by staking, unstaking and liquidity swap pool providers, for now we have seen the most activity in the liquid unstaking mechanism.
This is basically buying META and have seen large amounts being leveraged here, this was put in place by design and we are happy that some of you are using it. Just be aware that it drains the META assign to that activity, so at a certain point there will not be any META to allocate to each transaction and you will get less META.
Some of you have seen a decrease in their META tokens, this is because if you do not harvest them they get allocated to the pool to be distributed to other activities.
We will compensate our users that have been affected by this (since it was not communicated properly), more news on this over the weekend. So be sure to follow us on Medium, as this will be the official channel for all updates, all other channels will be secondary.
Keep on staking!
