$META Token Unlocks in an hour: What’s Next?

Introduction to Meta Pool

Meta Pool is the first Liquid Staking solution on NEAR. Meta Pool enables users to stake their NEAR — earning staking rewards and helping secure the network — while also being able to access liquidity through stNEAR.

Meta Pool users also earn $META, the governance token of Meta Pool. Up until now, all the $META accrued and harvested has been locked: users were not able to move it out of their wallets. From 23 November 2021 at 12pm UTC all $META will be unlocked, meaning that it can be transferred and used across the NEAR ecosystem.

Community Owned

Meta Pool is a grassroots, bootstrapped project that did not raise money prior to launch or have an Initial Distribution Offering (IDO). The only way to obtain $META up until now was through active participation in the platform in the form of staking and liquidity provisioning.

We had special rewards multipliers for the first few weeks to reflect the special group of early adopters and supporters that believed in the project and have been extremely valuable in providing feedback and suggestions. As the protocol moves towards a fully decentralised governance model governed by $META token holders, we want to ensure that everyday users have the ability to earn $META and have a say on how the project evolves.

Governance Is Work in Progress

We believe on-chain governance is the future. Meta Pool is on a journey towards full decentralisation where the protocol will be owned and controlled by the $META holders.

Meta Pool governance will take place on AstroDAO and utilise a token-weighted voting mechanism.

The AstroDAO dev team is working on token-weighted voting. We will launch on-chain governance via $META voting as soon as this feature has been deployed. We are in close communication with the Astro team and will update our community as we have updates on this front.

Price Discovery, Sooner Rather than Later

Over the next couple of weeks we will be making announcements around price discovery initiatives. These may include an IDO and an incentivised liquidity pool (distributing rewards in $META) on DeFi platforms such as Ref Finance and Trisolaris(Aurora).

It is important to note that as $META tokens become unlocked and anyone can create a liquidity pool on Ref Finance, there may be some active pools prior to our official event. These pools are likely to have shallow liquidity and the price there may not be a reflection of the value of $META. We would encourage all $META holders to wait until the official price discovery event.

What’s Next for Meta Pool

We are thrilled by the prospect of growth and all the opportunities we are seizing. In the immediate future:

• OIN Finance will start issuing USD stablecoin using stNEAR as collateral, users will be able to mint USDO.
• We are upgrading the User Interface (UI) of the Meta Pool app so that the APY includes the value of META (post price discovery event), and the percentage return on providing liquidity for unstaking.
• Update on the AstroDAO development and upgrade to our governance mechanisms

Thanks for all your support! We are extremely grateful to have such a supportive community! Reach out to us on our Discord server if you have any questions or comments.