Important Update: Changes to $META Rewards
Hello Meta Poolers! As we roll into 2022 in full steam, we are introducing some important changes to the way in which $META rewards are distributed.
We’ve learned a lot of lessons over the last few months and we are shifting the allocation of $META to the places where we believe will add the most value to our users, our partners and Meta Pool.
Key Takeaways
- The current $META Rewards to all stakers on our Metapool.app platform will cease on February 28th, 2022.
- $META Rewards will now be distributed exclusively through our partners such as Ref.Finance and OIN Finance. Keep reading and learn how!
- We will be introducing new partners and more ways to continue earning $META over the next few weeks and months.
The Evolving Role of $META Incentives
As you know, $META is the governance token of Meta Pool, as such, very careful consideration goes into how $META gets distributed into the community.
During the early days we had very aggressive $META multipliers for early users. The reasoning behind these multipliers was to have reward structure proportional to the level of support and commitment of early adopters, who share our vision and will be good stewards for the platform as governance and ownership is transferred to the community over time.
We have extended the core belief in rewarding all users up until now. 17.80m $META have been distributed to all Meta Pool users to date, meaning that these users that hold $META will be able to participate in the governance DAO in the future.
Now we are introducing some major changes to the $META rewards structure to align incentives across the increasing number of stakeholders. The ultimate goal is simple — growth and unlocking value for the entire ecosystem — increased TVL in Meta Pool, increased TVL in partner platforms, increased revenue streams and access to liquidity for our users.
Focus on Growth
We have barely started scratching the surface of the ambitions plans for adoption of stNEAR and growth as we eagerly await the mainnet launch of some of our key partners such as OIN Finance and Burrow Cash.
Up until now it has been great to have all users earning $META by simply holding stNEAR, but the time has come to show them a better way to get the most value out of stNEAR through our partners.
Capital Efficiency
One of the core values and mission of Meta Pool is to unlock the value of the hundreds of millions of $NEAR currently staked in traditional validators. To achieve maximum capital efficiency, Meta Pool to be just the first step in an ever growing stack of Defi combinations. To put it differently, stNEAR is liquid and needs to be moved around and put to work.
Partnerships
The formula for explosive ecosystem growth is simple: we are shifting all $META incentives to users who deploy their stNEAR into our partners platforms, creating a super cycle that will enable them to grow rapidly and increase demand for stNEAR.
We are strengthening our relationship with existing partners and will be announcing new partnerships very soon. Join our Discord and follow our Twitter to stay up to date.
Governance
We are still a while away from direct governance via $META token voting. However, who is able to accumulate $METAis a relevant consideration as they may be able to have in future decision making.
We recently announced NEAR Foundation will be staking 1.5 million $NEAR with Meta Pool.
There have been some valid questions from our community concerned about the potential influence the NEAR Foundation could have on Meta Pool if they were to stake such large amounts of NEAR and earn $META rewards. This has been taken into account when making the decision to shift $META rewards to our partners.
This means that the Foundation is able to stake large amounts of NEAR to support the decentralization of the network without gaining effective control of Meta Pool over time.
What happens next…
- The first thing most Meta Pool stakers will notice is that the $META rewards will disappear from the Metapool platform. Don’t panic!
- The second thing you will notice will be generous $META rewards across all our current partners such as REF and OIN Finance.
- Lastly, we will be unveiling new partnerships with their accompanying $META rewards — we are making some serious moves to achieve our ambitious goals! Stay tuned!
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!
