StNEAR(ly) double
Did you know that you can double your money by holding an StNEAR? How is it possible, you might ask? Well, we can appreciate this by comparing the limitations of the centralized banking system with that of the wonders of the Meta Pool.
First of all, when you park your money in the bank, say BDO, they give you a certificate of deposit. That certificate of deposit is a document that contains value. It represents the actual amount of your deposit in the bank. You had better not lose that certificate of deposit (COD). It’s valuable.
But you cannot do anything with your certificate with BDO. You can laminate it if you want, or you can have it framed. Moreover, you can keep it in your vault. And again BDO will not even give you 2% APY (Annual Percentage Yield). That is the traditional legacy banking system.
With Meta Pool, you stake/deposit, say 1000 NEAR. Then Meta Pool issues you with your certificate of deposit (COD) in the form of stNEAR. This stNEAR is your certificate representing the amount of your investment or stake. This is where the magic begins. You can take your stNEAR certificate and make it as your collateral to borrow more money.
Because lending companies value your stNEAR as equivalent to 1000 NEAR that you staked with Meta Pool, those lending companies are willing to let you borrow more money by giving them your stNEAR. This is how you double your money by holding stNEAR: you secure your 1000 NEAR with Meta Pool, then make another amount almost if not more equivalent to your 1000 NEAR for whatever reasons you may have from borrowing using your stNEAR as collateral.
That is the magic of possessing stNEAR. Oh, did we mention that your 1000 NEAR with Meta Pool is also earning 10% APY? Saan ka pa, diba?
Start owning stNEAR here: https://metapool.app/
