In this article, we would like to introduce Meta Pool - the first liquid staking solution for NEAR protocol. We'll be covering the following topics:
- What is Meta Pool? What are Meta Pool’s features?
- Meta Pool Tokenomic: key metrics, token allocation, and token use-cases.
- How/Where to earn and store Meta Pool tokens?
- Roadmap & Updates.
- Founders/ Team members, Investors, and Strategic partners.
What is Meta Pool?
Meta Pool is a liquidity staking protocol built on NEAR, allowing Near holders to stake their Near and receive staked NEAR tokens. Tokenized NEAR token - stNEAR can be used as collateral in other financial applications and traded freely among users, locations and even blockchains.
How does Meta Pool work?
Users firstly select the amount of NEAR to stake. In return, users will receive liquid NEAR (stNEAR). Users can use stNEAR in other DeFi platforms (for example users can farm stNEAR/wNEAR at Ref Finance and earn rewards) - or swap back to NEAR.
As part of the platform, every staker and liquidity provider gets META governance tokens to participate in the DAO.
Treasury: Staking rewards fees and part of the LP fees will go to the Treasury. Treasury funds are stNEARs and are used for (in this order):
- Pay for bot transaction fees.
- Pay for hosting and servers.
- Pay operators and maintainers compensations.
- META buybacks.
Why is Meta Pool unique?
Ability to stake and unstake NEAR immediately: Liquid staking is an alternative to traditional staking allowing users to stake and effectively unstake their NEAR without the requirement of waiting 52 to 65 hours
Users can choose to pay a swap fee that ranges between 0.3% and 3% or to unstake by the old method, waiting for 2-3 days but with no fee.
Improved Decentralization for Near Protocol: Meta Pool distributes stake for low-fee validators, indirectly making the NEAR network more decentralized and censorship resistant.
What is META token?
META is an NEP-141 governance token. It has no value other than that META holders can participate in the governance of the platform.
Detailed information about META token
Key metrics META
- Token name: Meta Pool
- Ticker: META
- Token Standard: NEP-141
- Contract: Updating...
- Token use cases: Governance
- Circulating Supply: 2,731,814.63 META
- Total Supply: 1,000,000,000.
META Token Allocation
- DAO Reserve: 45%
- Founders: 39%
- Community Distribution: 10%
- Team expansion & Advisors: 6%
META Token Release Schedule
After an initial distribution period of around three weeks, 10,000,000 tokens will be distributed to early users, stakers and liquidity providers in the community. All distributed META will have a lockup period of 3 months. The lockup will end on Nov 23, 2021.
META Token Sale
Before and during the initial launch, META cannot be bought. Users have to stake NEAR tokens on Meta Pool to earn META or provide liquidity to the stNEAR/NEAR liquidity pool.
DAO Fair Token Sale: If the treasury funds derived from staking rewards fees and part of the LP fees are not enough to accommodate protocol expenses and team expenses, there could be several META fair tokens sales from the DAO treasury. The raised funds will be used to pay for any costs that are not covered by standard protocol fees.
META Token use cases
META token’s functionality includes:
- Governance: META is the native governance token of the Meta Pool project. By holding this token, users can directly take part in the decision-making process.
- META holders can create and vote on:
- proposals as part of its governance system on a Sputnik V2 DAO.
- create incentives to reward participation and drive usage of the protocol.
- Other sets of actions, such as funding bounties, making payments for rewards, or changing any other parameter or variable of the protocol
How to store META Tokens
Using Coin98 Wallet
You can store, send, receive META Tokens on Coin98 Wallet with a few single steps. The guides on how to make transactions with META on Coin98 Wallet will be updated soon.
Other supported wallets
META will also be compatible with all NEP-141 compatible token wallets.
How to buy META Tokens
As mentioned above, META cannot be bought before and during the initial launch. Stay tuned with Coin98 Insight for further updates if any DAO Fair Token Sale is introduced in the future.
Roadmap & Updates
Phase I: Mainnet - Community Launched
- Governance will be run in the Sputnik DAO by a council
- During this phase, META tokens will be distributed to early adopters.
Phase II - DAO Governance by META holders
META holders can vote on:
- Diversification: Validator distribution list, and how much stake to distribute to each one.
- Fee curve parameters for the NEAR/stNEAR Liquidity Pool (min fee, max fee, liquidity target)
- How to use treasury funds for DAO expansion
- Operational costs fee
- Pay rewards to META holders
Phase III - Proposals (future)
- Develop the pegged-NEAR borrowing contract.
- Create a Dividends-pool as a stNEAR/META liquidity pool allowing META owners to burn META to obtain stNEAR. This pool can set a base-price for META tokens.
Is META a good investment?
Below are some highlights for your consideration:
- The sole use case of META token is governance, and the team has no plan to introduce any token sale. Governance use cases alone sometimes are not attractive enough for users to keep holding META tokens in the long run.
- Currently, META value is captured in three ways:
- stNEAR fees that come from NEAR staking rewards (a fixed 2% of the total staking rewards).
- Liquid Unstaking fees which will be variable ~0.3% - 3% (depends on existing liquidity and operation amount, similar to standard swap pools).
- META DAO Reserve: All revenue generated on the platform from staking and liquidity pool fees is sent to the Treasury
Team, Investors, and Strategic partners
Lucio Tato & Claudio Cossio are co-founders of Meta Pool. There is little information about them. Stay tuned with Coin98 Insight for further information in the future.
OIN Finance (OIN): A decentralized multi-chain stablecoin issuance protocol, enabling members of other public blockchains to stake their own native tokens, such as NEAR, SOL, ETH, BSC, etc. as collateral to mint USD-pegged stablecoins.
Ref Finance (REF): The first AMM DEX project to launch mainnet on NEAR, similar in design to Uniswap. It is a stack of DeFi services and products built around a core AMM.
Flux Protocol (FLX): A cross-chain oracle aggregator that provides smart contracts with access to economically secure data feeds.
This article has included the most critical and detailed information on the META Token. Please leave any questions you have below, and we will get back to you as soon as we can!