Stakers Week: increased META rewards in Meta Pool!
The last few days have passed on a blink of an eye and the response from the NEARverse has been amazing.
Not everything worked as planned, as many of you are still having some issues regarding the harvesting of $META, which we wrote on our last blog post. Also we saw how the pool of tokens assigned to LPs and Unstakers drained quickly even after extending it; we were surprised by the popularity of the liquid-unstaking mechanism which affects how $META is distributed between LPs and Unstakers, and we extendend $META rewards for those groups to 400,000 $META mid week (we started with 200,000).
The team is working hard on the much needed improvements, we will be releasing them after the community launch. So please hang on, there are some cool things coming up, yes automatic harvesting is coming ;)
Also we have not accomplished our goal of distributing $META tokens to our community and we want to do more for the NEAR Ecosystem. So that is why next week, we are launching the Stakers Week.
For us every staker and LP are what we call our Meta Important Pooler (MIP), we are hearing your feedback and acknowledging the rough edges of the DApp. So we want to make things right by increasing the $META rewards for current and new stakers in Meta Pool.
Stakers Week — Increase META multipliers for Stakers.
Since not all $META rewards planned for stakers (3.1 millions) will be distributed this week, we want the second week to focus on the NEAR token holders who are staking with Meta Pool! We will roll-over most of the undistributed $META rewards from this week to the next.
So for Stakers Week will have a pool of 5 million $META for stakers and a mega-multiplier of 1000x. Meaning that if you HODL 3,000 NEAR staked during the week, you’ll receive approx. 6,000 $META rewards.
Just a quick note that our Tokenomics plan was to distribute 3.1 million META with a 75x multiplier, so we’re expanding……..we mean really expanding, on that, we love you MIPs! So we are making it worth your effort!
We are keeping $META rewards for Liquidity Providers and Liquid Unstakers as planned, meaning for Stakers Week we will distribute 100,000 $META with a rewards structure of 50x for Liquidity Providers, and 100,000 $META with a multiplier of 40x for Liquid Unstakers, and we will adjust the liquidity pool parameters to match the observed activity and incentives: the new target for the Liquidity Pool will be 150,000 NEAR, and the fee will vary between 0.3% and 3%. Also Liquid-Unstake Fee will be distributed 60% for Providers and 40% for the Treasury, we need to provide a better means to pay for the operational costs of running the protocol. This is due to the unexpected growth we have seen, which is a nice problem to have ;)
We’re preparing new functionality for the Meta Pool, new sections in the app. Will announce details and peek previews during the week, so subscribe to our Medium account to get the latest news.
Also follow us on Twitter — @Meta_Pool and join our Discord for community updates and conversations around our latest releases.
Keep on staking!
