MetaPool is the first liquid staking solution on @NEARProtocol
By staking your $NEAR, it allows you to get liquid stNEAR to use it in DeFi as collateral or to provide liquidity while you are earning staking rewards with a ~10.77% APY
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π How does liquid staking work?
1. Deposit $NEAR into MetaPool 2. Receive stNEAR (staked-NEAR) 3. MetaPool distributes your tokens across validators 4. Rewards accumulate in the form of appreciated stNEAR value 5. Use stNEAR in DeFi applications
@FinanceOin allows you to mint their stablecoin $nUSDO by backing it with stNEAR
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3β£ Provide liquidity
- stNEAR - NEAR directly in the MetaPool app for 15.88% APY
- stNEAR - wNEAR in @finance_ref for 19.17% APR
- stNEAR - xTRI on @trisolarislabs for 81% APR
- stNEAR - META on @finance_ref for 65% APY
You can of course combine several strategies
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πͺ The $META token
$META is the native governance token and in Phase III there will be a dividend-pool that will allow $META owners to burn $META to obtain stNEAR π₯
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πAllocation
Max supply = 1B
Founders: 30%
Team & advisors: 2.6%
Investors: 10%
Venture rounds: 10%
Community & treasury: 57.4%
*The Meta team hasn't made any pre-sale before the launch so the entire project was funded by the founders
As you can see the Mcap/TVL ratio for Lido is pretty small but $META is undervalued by a factor of x4.43 in comparison to $LDO
With only $133M in TVL and $NEAR popularity growing, we can expect more use cases for stNEAR which will boost Metapool's TVL
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Maybe you can use stNEAR to mint $USN & earn 20% APR. That'd massively boost Metapool's TVL
Due to (1) $NEAR narrative, (2) only liquid staking solution & future TVL growth, (3) comparison with $LDO and (4) use case speculation, I think $META is highly undervalued at < $2M
11/x
If Metapool captures $1B TVL and $META's Mcap / TVL = $LDO's ratio of 0.06 --> $META should have a Mcap of $60M and a price of $3.15 per token
Even with supply increasing, (META is inflationary due to incentive rewards) I don't see a scenario where $META can't do a x10
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- Deployment on @arbitrum in June
- Partnership with @traderjoe_xyz (hinted)
- $LVL / $LGO OFT tokens powered by @LayerZero_Labs w/ fully cross-chain yield aggregation
- @GMDprotocol to build delta-neutral vaults for LLP tranches (+ $LGO ?)
Chart looks pumpy here
$GLP yield has dropped to 5.7% APR as TVL isn't being utilized. $GMX has more TVL than it needs
$LVL LLPs tranches are doing 38%, 127%, & 209% in BSC (only fees)
I think it's inevitable that some GLP liquidity migrates to Level to seek higher yields
When $GNS moved to Arbi, both TVL and volume skyrocketed
Level is deploying on Arbitrum in a time when $GLP yield is quite low, so I expect it to attract a lot of TVL (and users - another criticism point for Level)
Gains proved themselves in Polygon, Level did it in BNB
There is something that took me some time to master. Still not 100% there, tbh, but in the right path.
We tend to increase size as the narrative becomes more & more obvious. And we're shy at the beginning, just in case. High risk, right?
2/ We have to do the opposite. Go hard initially and take some off the table as the narrative becomes more obvious
It seems counterintuitive. As human beings we have a cognitive bias to feel safer once we're comfortable, and we're comfortable when everyone is on the same trade.
3/ But this is extremely important to take into account in a pvp market. When everyone agrees with you, where is the next money coming from?
Especially in a market that is not receiving new fresh money.
Thus, NEAR becomes the first non-EVM chain to offer MetaMask compatibility through a smart contract called #NETH, developed by @proximityfi
Thread on how NETH works π§΅π
2/ #NETH is a smart contract that enables your Ethereum address to remotely control your paired NEAR account via signing transactions.
NETH is deployed on the NEAR side and allows you to directly interact with NEAR dApps using most Ethereum wallets, such as MetaMask
3/ #NETH accepts transaction details (payload) & the signature from your paired Ethereum account. The contract
1. verifies the signature from the ETH account 2. recovers the ETH public address and 3. executes the transaction if it matches the address from the initial NETH setup