Octopus x Meta Pool Partnership: OCT<>stNEAR on Ref Finance.

Overview

We are proud to announce a partnership with our friends at Octopus that will see us launch an OCT/stNEAR incentivised Liquidity Pool on REF Finance.

Quick Facts

• OCT/stNEAR incentivised liquidity pool on REF begins January 1st, 2022
• Dual Rewards: users that join the new OCT/stNEAR pool will earn farming rewards in both $REF and $META tokens
• Rewards for the current OCT/NEAR liquidity pool end on Dec 31st
• Existing OCT/NEAR farmers that want to continue earning rewards must migrate to the new OCT/stNEAR pool

Expanding the Use Cases of stNEAR

Several weeks ago we launched the first incentivised liquidity pool — wNEAR/stNEAR on REF finance.

Since then, we have been working very hard on an ambitious road map that sees stNEAR being adopted as the base pair in more Liquidity Pools. The OCT/stNEAR pool represents another major milestone along that journey.

Benefits of Using stNEAR on a Liquidity Pool

The value proposition of using stNEAR in Liquidity Pools is quite simple: increase revenue streams for LPs to:

• Swap Fees: a small percentage of each trade.
• Farming Rewards: incentives provided by the protocol (i.e. REF) to attract capital.
• Staking Rewards: currently sitting at approx. 10.5%

The use of stNEAR, a yield bearing asset, will be particularly beneficial for low volume pools or pools that do not have any farming incentives.

Meta Rewards

Upon the successful completion of the $META IDO on Skyward — the Price Discovery Event — we will enter into a new era where $META tokens will be distributed as incentives for all Liquidity Pools that adopt stNEAR as collateral.

Migration to New Pool

Transitioning into the new stNEAR Liquidity Pools is simple:

Step 1: Withdraw all funds from the existing OCT/wNEAR farm

Step 2: Withdraw all liquidity from the OCT/wNEAR pair

Step 3: Convert the NEAR you just withdrew from the farm into stNEAR. There are two ways:

• Deposit the wNEAR into the Meta Pool application,
• Swap wNEAR for stNEAR on the existing stNEAR/NEAR pool

Step 4: Select OCT and stNEAR and deposit liquidity to the pool.

Step 5: Deposit the new OCT/stNEAR into the farm.

We are really excited to collaborate with other platforms and create farming opportunities on AMM´s such as Ref Finance. This will be the first of many collaborations we will be announcing before the end of the year.

Our goal is to continue delivering value for stNEAR token holders and right now DeFi is a very important lego brick that we need to build in order to increase the flow of digital assets into DApps on the NEAR blockchain.

So be ready for January 1st which is the date when the farm pools will be live on Ref Finance, with some good yield multipliers to those that provide liquidity. All of this is not financial advice and please be mindful before you put your assets into the farm, do your research and be prepared to be part of the DeFi ecosystem on NEAR.

Looking forward to keep building for the NEAR community and deliver value for the Meta Pool community.

Keep on staking!