Ref Finance and Spin join forces to bring more liquidity to order book trading on NEAR Protocol
The Spin team is delighted to announce entering a strategic partnership with Ref Finance, aimed at popularizing on-chain trading on NEAR Protocol. What happens when the first on-chain order book meets the first AMM on NEAR? They join forces to ensure that the NEAR blockchain users can enjoy deep liquidity, abundance of trading pairs and excellent trading experience.
Earlier this month, Spin announced launching its first on-chain order book DEX on NEAR Protocol’s testnet that already features the core order book functionality. Once APIs and fees are integrated and market makers are onboarded, Spin will go mainnet. To ensure perfect user experience, Spin will need deep liquidity. Furthermore, Ref Finance enters the scene announcing its intention to aggregate its liquidity to Spin’s order book.
Ref Finance being a multi-purpose DeFi platform, was NEAR’s first AMM that now features over $70M in TVL and $1B in trading volume since inception. Its main objective is to become the one-stop DeFi shop on NEAR.
The two protocols strive to make the NEAR blockchain more popular among DeFi users and to bring more features to them. The partnership of Spin and Ref Finance will first and foremost focus on liquidity aggregation to Spin’s on-chain orderbook, as well as opening new markets for both Ref Finance’s and Spin’s protocol tokens.
“Ref Finance was one of the first NEAR-based protocols to offer an abundance of features to the blockchain users. Spin expands this list by developing the first on-chain order book DEX that will soon support perpetual futures trading. We’re thrilled to partner with the Ref team and believe that this cooperation will help us ensure a smooth and seamless trading experience on Spin when we go mainnet.”
CEO @ Spin
The Ref Finance protocol token will be one of the first assets to be available for trading on Spin’s order book DEX — whilst Spin’s token will be tradable on Ref Finance. Additionally, Ref Finance will launch farming pools for Spin’s token.
“There is a great value proposition at the intersection of both technologies (CLOB and AMM). In a nutshell, this partnership will provide a better trading experience for NEARians. Increasing the liquidity utilization rate across the ecosystem also means that we will be in a better position to attract ‘big money’ and sustainable capital from alternative L1 and L2. We are very excited to work with Spin.”
Product Manager @ Ref Finance
In our mission to popularize the NEAR blockchain and provide more opportunities to DeFi users, the support of the community is very important. Join Spin and Ref Finance today!
Join the Spin community:
- Website — http://spin.fi
- Twitter — https://twitter.com/spin_fi
- Discord — https://discord.gg/82kxbUpAPH
- Telegram — https://t.me/spin_fi & https://t.me/spin_fi_chat
Join the Ref Finance community: