When project founders talk about building on the NEAR blockchain, they very often mention the supportive and enthusiastic community. Along with Guilds, the NEAR community is essential in helping to raise the profile of projects and provide feedback, giving a new product the best chance of success.
Having just completed a successful IDO on Skyward Finance, PembRock Finance is proud to distribute tokens to community investors through Meta Yield, a platform where staking rewards can be used to get access to tokens from up-and-coming projects.
Meta Yield, created by Meta Pool, gives the NEAR community another direct link to projects through kickstarter-like funding. Through an innovative fundraising model, participants can support new projects within the NEAR ecosystem with less risk than if investing through other channels.
How Meta Yield fundraising works
- Users stake NEAR tokens, which helps to both decentralize the network and lock up some of the supply. They will get the corresponding number of stNEAR tokens.
- With the initial NEAR investment untouched, staking rewards are used to fund new projects from the NEAR ecosystem.
- In return for their support of a certain protocol, users are rewarded with an allocation of tokens at seed price.
- Once the locking period is over, 100% of the NEAR that was initially staked is returned.
Simply holding stNEAR guarantees you a return, but with Meta Yield, you can use your stNEAR to support cool new Dapps. In this case, your stNEAR rewards buy $PEM, without your underlying investment being touched.
Get involved with PembRock
PembRock is the first leveraged yield farming protocol built on the NEAR blockchain. There are opportunities to earn through lending, farming with up to 3x leverage, and staking the native $PEM token, which is also used for governance voting to decide the future direction of the platform.
With an experienced development team that is supported by the INC4 Guild, PembRock will continue to expand its integrations and list of partners after launch. Currently, the project is supported by:
- Ref Finance
- Alameda Research
- Move Capital
- Big Brain Holdings
- Block 0
- Columbus Holdings
With a few days left, it’s not too late to start staking your stNEAR tokens for $PEM rewards.