Fri. Dec 31st, 2021
    Ref Finance, NEAR, Farming

    A new product from the NEAR blockchain pleases with its simple design, a great variety of pairs in liquidity pools and decent interest for farming. Let’s familiarize ourselves with an aggregator that can give new life to decentralized finance.

    The Ref Finance DeFi project appeared in the NEAR blockchain ecosystem in July 2021. It serves as a gateway, providing access to blockchain resources through its automated market maker — AMM DEX.

    The project aims to bring together all the main components of decentralized finance that operate on the platform, while taking advantage of the platform’s main features — low commissions and high transaction speed.

    Decentralized exchange with the opportunity to earn

    This is basically a set of protocols that run on NEAR smart contracts. Eventually it will have to provide a full range of financial transactions, but right now the main product of Ref Finance is a decentralized exchange that allows users to make money on farming with liquidity pools, and the ecosystem provides additional liquidity.

    To farm, you need to create your NEAR wallet, the address of which will be identical to your account. Using this account will allow you to buy or withdraw blockchain currency using, for example, the Binance exchange, as well as connect with Ref Finance.

    On Ref Finance, the NEAR tokens you transferred for farming will become wrapped —  WNEAR. Using them, you can purchase currency from other projects and blockchains, including Ref Finance tokens. These tokens can be used to participate in resource management, to pay transaction fees, and to farm. The same tokens Ref-service uses to give out farming rewards.

    The first pairs of tokens the Ref Finance aggregator started working with were pairs with USDT, DAI, SKYWARD, OKT and WETH, as well as the Ref-NEAR pair itself. Now there are about 20 pairs of them.

    Here you can see which ones have the most liquidity, as well as the annual profit percentage for each pair.

    The profit percentage varies greatly from pair to pair. In the case of low volatility tokens, the interest can be about 30% per annum — WETH-NEAR, or 45% — NEAR-USDT. At riskier rates, the percentage of return also rises, reaching (at the time of publication) 94.94% — WEAR-PARAS.

    Expected return — three in one

    Of course, it’s not three thousand percent like with Zoo, where our editorial team farms in the reality show, but the possibility of losing your investments is significantly lower — after all, here they trade the currencies of solid, proven projects.

    Thus, using the opportunities provided by the Ref Finance aggregator, the user can earn the project’s native currency, earn interest for farming and at the same time, receive regular payments for farming and still expect the exchange rates of the currencies staked in pairs to rise.

    The project’s roadmap takes into account that AMM DEX, which it is now, is essentially just its first incarnation, and in the future Ref Finance expects to become a set of tools working on a synchronic segment. This should result in the possibility of trading multiple pools in a single transaction, support for Metamask users will be developed and much more.


    We remind you that in the show “Making money on crypto. Test-drive” we farm, including on NEAR — WNEAR-USDT pair.