Meta Pool Partnership to Bring stNEAR Stablecoins!
As we get closer to the launch of our OINDAO V3, we’re excited to announce another NEAR ecosystem partner to release their stablecoin on our platform!
Meta Pool (metapool.near), being one of the foremost liquidity providers of the NEAR platform will release their stNEAR-backed stablecoin on the OINDAO.
Due to the structure of the NEAR protocol, the vast majority (up to 90%) of NEAR are locked up in staking contracts. With Meta Pool will be providing a method to unlock this liquidity by releasing the stNEAR, a NEAR token that will be given to the user when NEAR is staked through Meta Pool.
The Partnership
With Meta Pool, users will be able to enjoy the staking rewards of the NEAR protocol, while having the stNEAR in their wallet to use. This in turn, will be accepted by the OINDAO to mint stNEAR-backed stablecoins in another step of leveraging.
“OIN Finance is a key stablecoin provider for the NEAR blockchain ecosystem, so token holders have fast and easy access to this digital asset that is the cornerstone for DeFi. We are very excited to have them as a partner” — Claudio Cossio, founder Meta Pool.
The Benefit
Through Meta Pool’s ability to free up locked NEAR, we’re excited to see the NEAR ecosystem become more active in terms of liquidity and transactions. The NEAR that is now liquid are free to be used in ecosystem partners, for adding additional staking rewards on top of the NEAR protocol’s rewards (through Meta Pool), and now add an additional layer through the OINDAO platform. Simply put, users will now not have to compare NEAR’s staking rewards vs Meta Pool vs OINDAO — they can reap the benefits of all three.
As the utilization of Meta Pool’s services is expected to be very high, we’re excited to be able to take in a great amount of users to the OINDAO and generate substantial growth in terms of user base, utility, transactions, and Total Value Locked on the OINDAO.
We’ve got a lot to comment about this partnership, so stay tuned for further deep dives, and two AMAs to start (September 21st & 23rd)!
ABOUT OIN FINANCE
OIN is a decentralized stablecoin issuance and trading platform. While MakerDao allows only mainstream assets to be used as collateral to issue DAI, OINDAO allows projects, large or small, to issue their own brand labelled synthetic assets that are collateralized by their own coins; in essence, any projects can mint their own stablecoins to participate in the greater DeFi ecosystem. Having commenced with Ethereum, and gradually expanding to other popular ecosystems such as Elrond, Polkadot, Avalanche, and most recently Binance Smart Chain, OIN’s aim is to become a one-stop shop for cross-chain stablecoin issuance, trading, and implementation.
For all the recent updates and progress, connect with OIN Finance and become a part of our community at:
