Allstake Partners with Burrow Finance to Unlock New DeFi Horizons on NEAR
Allstake, the pioneering meshed restaking protocol designed to enhance the security and decentralization of Web3, is delighted to announce a strategic partnership with Burrow Finance, the leading lending protocol on NEAR.
Burrow is the largest dapp on NEAR with a TVL of about $170M. With Burrow, users can lend and borrow assets to earn interest like Aave and Compound
The collaboration between Allstake’s restaking functionalities with Burrow’s lending and borrowing platform will open up a world of new DeFi possibilities for NEAR users. Participants can leverage their $LiNEAR or $stNEAR assets by simultaneously restaking these tokens on Allstake to earn additional rewards.
Allstake x Burrow x LiNEAR GEM Drop Alliance Event
To celebrate the launch of Allstake Stage 0 and the new partnership with Burrow Finance, Allstake is co-hosting a special GEM Drop event, open to all Burrow and LiNEAR users.
By participating, you’ll receive 200 GEMs. Here’s how you can join the Allstake x Burrow x LiNEAR GEM Drop Alliance:
- Borrow $LiNEAR on Burrow with a minimum borrow of 0.5 $LiNEAR.
- Stake your $LiNEAR on Allstake. You can refer to the comprehensive guide here: https://medium.com/nearprotocol/restaking-on-near-protocol-the-comprehensive-guide-40dd3867e960
- Event period: June 1 — July 31 2024
Stake your $LiNEAR on Allstake now!
About Allstake
Allstake is the first Omnichain Meshed Restaking protocol that brings restaking to all chains and allows for AVS to derive security from multiple assets simultaneously. It offers the most flexible security model without rebuilding wheels on each chain.
About Burrow
Burrow is a decentralized, non-custodial pool-based interest rates platform that enables users to supply assets to earn interest, and to borrow against them to unlock liquidity. Burrow is similar in nature to Aave, Compound, and other pool-based protocols. Burrow runs natively on the NEAR blockchain, a layer 1, proof-of-stake, sharded blockchain with a WebAssembly runtime. The Burrow protocol’s smart contracts are written in Rust.
Disclaimer
Allstake does not endorse or promote any of the projects, platforms, or cryptocurrencies mentioned in this blog post. Any descriptions of functionality and services provided are for informational purposes only and do not constitute endorsement. Allstake is not responsible for any loss of funds or other damages caused as a result of using the projects, platforms, or cryptocurrencies described herein. Readers are strongly advised to conduct their own research including assessing risks and regulatory considerations, and to exercise caution when engaging with any of the mentioned entities.
