About PembRock

PembRock Introduction

What is PembRock?

PembRock is the first leveraged yield farming protocol built on the NEAR blockchain. Users can provide liquidity, farm with leverage, stake, and take governance decisions to secure the future of the platform, all on a fast, secure, cheap, and user-friendly blockchain.

What is yield farming?

Yield farming is the act of lending your cryptocurrency to the most profitable platforms in order to earn the highest DeFi yields. Rather than the traditional order book model that matches real buyers and sellers of assets, DeFi applications employ the Automated Market Maker (AMM) model. AMMs allow trades to be executed immediately through the use of algorithms and pools of tokens. This is where users come in, helping to provide liquidity to pools in exchange for a percentage return on investment.
The main difference between staking and yield farming is that the latter is defined by its mobility. Yield farming often involves the quick movement of crypto funds — either manually or through automated tools — to chase the highest rate of return, calculated by APY; however this is not a strict rule, and yield farmers who find a great protocol can reap fantastic rewards over a long period of time.

What is leveraged yield farming?

Leveraged yield farming is simply normal yield farming but supercharged! It is the practice of borrowing external liquidity to farm a larger amount of crypto, thus gaining the ability to get increased returns.
While many DeFi lending platforms still require users to overcollateralize (put up funds of a greater value than those being borrowed), our leveraged yield farming platform undercollateralizes, meaning:
  • A lower barrier to entry
  • Fewer funds laying dormant
  • Greater rewards for users.

Why did we build PembRock?

Yield farming is one of the key drivers of the DeFi ecosystem, with the liquidity provided by users helping protocols to innovate, building new features for the benefit of the entire community. Despite this symbiotic relationship, the DeFi sector is still in its experimental stages, meaning that current yield farming projects can be temperamental, hard-to-use, and occasionally, less than secure. It is only through trusted projects that decentralized finance can move into a more mature phase.
We wanted to play our part in this exciting sector, and what better opportunity could we get than building on NEAR, a blockchain which has made huge strides over the past year but is yet to house a leveraged yield farming platform.
Like our developers, NEAR Protocol wishes to accelerate the dream of DeFi as an integral part of Web 3.0 that is accessible to all. NEAR:
  • Is a fast, inexpensive and carbon-neutral blockchain.
  • Incorporates a user-friendly wallet.
  • Operates with the Delegated Proof of Stake (DPoS) consensus mechanism, encouraging greater community participation.
  • Has a large dedicated community.
One of the most exciting things about NEAR is its promotion of Guilds — teams of developers from the community who are creating innovative apps that are accessible to all users, which is one of the important aspects of continued DeFi growth. PembRock Finance is supported by both INC4 and Minerall Guilds in its development.
The NEAR ecosystem is expanding, with volume on DEXs such as Ref.finance increasing. With the demand for NEAR’s native products and a desire by crypto users to get maximum returns, now is a great time for PembRock Finance’s release. The NEAR Team seems to agree, which is why they provided us with a grant to assist us with the development of PembRock.
Last modified 3mo ago