Ref Finance integration
As the first leveraged yield farming platform within the NEAR ecosystem, we can bring great benefits for farmers and also the NEAR blockchain itself. PembRock as one of the expanding suite of products will result in greater liquidity being brought to the blockchain, as new and established users invest their crypto to get great rewards, becoming part of the expanding NEAR community in the process.
With the launch of PembRock Finance, we are proud to announce our integration with Ref Finance. A promising DeFi project with growing volumes running through it, Ref Finance provides the trusted infrastructure needed for PembRock users to use liquidity pools and farms.
Ref Finance is a community-driven, expanding set of DeFi products built around a core AMM. It is at once a decentralized exchange, lending platform, synthetic asset issuer, and much more, providing:
Multiple pools in a single contract. Traders can trade across pools atomically in a single transaction. Customizable LP fees per pool. LPs can charge higher fees for illiquid or highly volatile tokens. Developers can earn rewards for building UIs and other applications on top of Ref Finance. Ref Finance benefits from the one to two second finality and cheap transactions offered by the NEAR blockchain (just $0.005 per swap). This puts Ref Finance pretty much on par with centralized exchanges, helping bring greater legitimacy and trust to decentralized finance.
Best of all, NEAR’s Rainbow Bridge to Ethereum means that traders can currently utilize ERC-20 assets from Ethereum on NEAR, with other bridges in development for BSC, Polygon, and Cosmos.
Our Ref Finance integration gives greater value for holders of the versatile PEM token. We hope to give a boost to Ref Finance and every farmer, while also establishing our credentials as the go-to leveraged yield farming project, even for those who have never transacted on NEAR protocol before.
Yield farmers and lenders through PembRock are able to contribute to liquidity pools, with lenders receiving a stable high APY for providing the funds needed for borrowers to farm with leverage. With auto-reinvest, gains are automatically put back to work for even larger rewards!
We are already supporting all major farms and assets on Ref Finance, allowing farmers to use more available tokens to create a leveraged position. As shown above, lenders can also provide liquidity to these farmers, getting high-levels of interest with minimal risk by staking their stablecoins.
For NEAR, more money is flowing through its ecosystem, helping to showcase its ability to handle large numbers of transactions with high throughput and extremely low fees.