New functionality: Farming in stable pools is now supported on PembRock
PembRock is bringing more earning opportunities to all degens on NEAR — we’re enabling farming in stable pools! This new functionality is now available, and the first NearX-NEAR stable pool is officially live in the PembRock app.
To avoid confusion, here’s how we define stable pools: stable pools include assets with a high level of cross-correlation, meaning that in regular market conditions, assets have the same price trend. Usually, stable pools include such assets as stablecoins, liquidity-staking tokens, etc.
Just in: farming in stable pools on PembRock
Farming in stable pools on PembRock significantly lowers farmers’ risks — two coins have a very high correlation, which makes the risk of a position liquidation close to zero.
Farming in stable pools
- Earns you great returns on the tokens you farm;
- Minimizes the risk of liquidation;
- Pays out rewards in PEM.
The first NearX-NEAR stable pool is live
Today, you can join the NearX lending pool as a lender or farm in the NearX-NEAR stable pool. So try now and enjoy awesome returns with minimal risks!
Go to the app: https://app.pembrock.finance/farm
More stable pools are coming
We’re starting with the NearX-NEAR stable pool, and we’ll add more stable pools later. Our team plans to enable farming in stable pools for the pools available on Ref Finance. So stay tuned and follow us on Twitter for updates!
What is Stader and NearX?
Stader Labs is the first multi-chain platform that enabled liquid staking solutions with NearX on the NEAR Protocol and Aurora.
NearX is a token that represents a user’s share of the total Near pool deposited with Stader. Once users stake NEAR on Stader, they receive freshly minted NearX tokens based on the exchange rate at the time of staking.
Staking NEAR to get NearX: User Guide
How to farm in stable pools
Basically, farming in stable pools is different on the backend (and our devs have got everything covered!), but the interface looks the same as your regular yield farming routine on PembRock.
Step 1: Connect your wallet to the PembRock app at https://app.pembrock.finance/
Step 2: Go to the farming section at https://app.pembrock.finance/farm and select NearX-NEAR farm; click Farm.
Step 3: Choose which asset in the pair you wish to deposit, the asset you wish to borrow, the exact amounts, and how much leverage you wish to farm with through the slider (1x to 3x).
Step 4: Confirm the transaction.
Make sure to read our detailed Step-By-Step Guide to Farming on PembRock, and feel free to ask our tech support for help in the PembRock Discord server.
