PembRock Finance To Launch Protocol Revenue Sharing & DAO
PembRock Finance, the first leverage yield farming project built on NEAR Protocol, is set to launch staking for a share in protocol revenue and DAO participation. This will allow PembRock users to find new ways to earn while also getting the chance to steer the future direction of the project.
Why are DAOs important?
DAOs are one of the most important aspects of decentralized finance in the larger Web3 landscape. Through blockchain infrastructure and smart contracts, users have the ability to take advantage of direct democracy, without the hierarchies of Web2 applications. This empowers those who wish to engage more deeply with the projects they participate by influencing their development.
Staking for protocol profit and governance
So what will governance with PembRock look like? Well, a user’s stake plus the length of time it is locked up for will help to determine the weight of their input, expressed as Voting Power (VP).
- 1000 PEM staked for 4 years = 1000 VP
- 1000 PEM staked for 2 years = 500 VP
- 1000 PEM staked for 1 year = 250 VP
The maximum staking time is 4 years, and tokens can not be taken out until the end of the lockup period. This is so PembRock can continue to be stable and profitable over the long term.
Importantly, protocol profit will also be distributed according to VP, so the more of a stake users have in the longevity of the protocol, the greater input they will ave have, alongside with a larger share of the rewards. As Igor Stadnyk, the CEO of PembRock Finance puts it:
We’re excited to welcome members of the PembRock community to become part of our DAO, allowing us to grow, strengthen, and better cater to our users each and every day.
Empowering Users
Once launched, the PembRock DAO will be responsible for the development of the platform, with voting for distribution of the Treasury’s community rewards running according to PembRock’s tokenomics. For any other information about PembRock, visit the School of PembRock, an expansive resource for everything DeFi and leveraged yield farming. You can also become part of the PembRock community through Discord, Telegram, and Twitter.
About NEAR
NEAR is a dynamically sharded Proof-of-Stake, carbon-neutral blockchain built for usability and scalability. NEAR combines the power of both PoS and sharding in a technology called Nightshade, making the chain infinitely scalable without compromising security and decentralisation.
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