MetaPool is exceptional in its design,the staking industry will set to explode as more and more blockchain networks shift from Proof of Work systems to Proof of stake that is more energy and computationally efficient and climate friendly.
The next question on many people’s mind is can we get more from our staked assets,yes you can get more thanks to liquid staking.
Enter Meta Pool
Meta Pool is doing to $NEAR what LIDO is doing with $ETH. Meta Pool allows you to stake $NEAR tokens with no lockups
$NEAR offers everyone the opportunity to either be a validator or a delegator, contribute to network security and earn rewards through staking
Meta Pool allows NEAR token holders to stake and earn rewards, providing an easy way to unstake with no lockup.
It does not put all your staked $NEAR into just one validator,rather it spreads it among many high performant and low fee validators in order that you might get the best rewards while at the same time ensuring the network is decentralized and censorship resistant.
Why liquid staking
⁃ no lockups : staking $NEAR, the current way requires you to lock your tokens and to unstake them,you will have to wait for 41–52 hours
⁃ receive $stNEAR : that you can use for DeFi stuffs like lending, borrowing, liquidity provisioning etc
⁃ Earn $META : stake $NEAR and provide liquidity to the $stNEAR pair to get $META as rewards
How to do it
• Choose any amount of $NEAR,you wish to stake with meta pool
• in return for your staked $NEAR,you will receive a liquid derivative of your staked $NEAR (stNEAR) that will increase in value through staking
• You will receive $META for staking and providing liquiding for $stNEAR
• You are free to use your stNEAR in DeFi platforms anytime or swap back to NEAR
At launch there will be 1billion $META tokens(1,000,000,000), users can hold and stake $META to be part of the governing process of META POOL through a DAO
From August 23(the launch date) till 10th Sept,a period of 3 weeks,META POOL will distribute 10,000,000 tokens to early users,those who stake and provided liquidity.
$META tokens are initially locked from the launch date(august 23) till November 23 2021,that is a 3 months period,this decision was made to ensure that activities on the network are aligned with the network values and also to reward believers of the project.
$META token distribution
There were no presales, ICO, seed round or any of sort,the project was entirely funded by the founders.
Below is the breakdown of the distribution.
Founders — — 39%
Team expansion and advisors — 6%
Community distribution — — 10%
DAO reserve — — 45%
A 2% fee is charged on the staking reward,also 0.3–3% fee is charged as liquid unstaking fee,all these together with the $META DAO reserve make up the $META treasury.
From the treasury,operational costs like paying for hosting servers,bot transaction fees,operators and maintainers as well as for $META buybacks.
$stNEAR represents your share of the entire META POOL staked $NEAR, it’s a liquid version of your $NEAR.
Before now,your staking rewards are frozen,immovable and inaccessible except you claim them, Meta Pool changes all that by tokenizing your staked rewards in form of a token($stNEAR),this token is transferable,you can swap it for others,provision liquidity with it and do lots more.
This is truly a game changer for staking on $NEAR.