How to Stake $META tokens on Ref Finance and Earn 65% APY on Near BlockChain
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How to Stake $META tokens on Ref Finance and Earn 65% APY on Near Block Chain. I have META Token i got from Skyward Finance. Skyward Finance is IDO platform for NEAR chain. Ref Finance is Near blockchain based DEX. Currently Ref Finance only supports Near wallet. It does not support NarWallets V3 as of shooting this video. I find NarWallets V3 is much better than the official Near.org wallet. Near.org wallet is not browser based just like Metamask for all Ethereum Virtual Machine (EVM) based blockchains. Currently Ref Finance provide 48.4% for Solana-wNEAR pairs with TVL of $14.9k. I find this much better investment given both tokens are network tokens that will not go down in value. If you are very bullish on Solana it is a great way to have your bags grow over time. They even have Stable pair like cUSD-USDC at 28.32%, it is very stable coin pair play if you want to go very onservatives and safe where cUDC is celo Dollar similar to USDC it is pegged to the US dollar. WBTC-wNEAR at 51% is very fantastic pair if you want to have BTC grow with time. I think 51% in a BTC liquidity pair is best I can find so far anywhere. ETH-wNEAR at 29.6% is very good if you want ETH holding to grow over time.
Swap 50% $META tokens into StNear Fifth, here is how to Swap 50% $META tokens into StNear. I had to Swap 50% META tokens into STNEAR because I have to deposit equal value amount in the STNEAR-META liquidity pool later steps. Ref Finance does not have Zap method like in Beets.fi where all you need to deposit is one token. It automatically swap 50% of it to the other token on the Meta-STNEAR Liquidity pair. I went to the Swap tab. Took half of Meta tokens in my case 5406 tokens I swap into STNEAR. In Near block chain gas fees are less than $0.0001 in gas fees. Which is fantastic compare to Ethereum where gas fees can be as high as $100 during network busy times! I started to hate Avalanche because gas prices are like $1 during the high periods. I got 25.2 STNEAR. Now I have my 50-50 equal pairs. I should have swap out to NEAR from META. Then stake those in NEAR in MetaPool.app and create STNEAR while earning staking rewards at 24.47% APY. Where is a 0.3% liquid unstaking fee.
Deposit $Meta-StNear Sixthly, I will show you actual way to Deposit META-STNEAR liquidity pair. First I need to Deposit Max amount of STNEAR. I click MAX on STNEAR. It will automatically get the corresponding META tokens. It is very close. I have few extra META tokens (14.7 Meta tokens) lying around that I did not deposit into the META-STNEAR pair on Ref.Finance. After you approve, then you click actual deposit to actual depositing of funds. After you deposit into STNEAR-META Pool, this will create a STNEAR-META LP token. In my case it generated 0.027301 STNEAR-META LP token. Now, I need to deposit this LP token into the actual farm on Farm tab to get the 65% APY. Without depositing to the FARM you will not get the 65% APY. Goto Pools and click Your liquidity to confirm your farm investment. You will see your shares of LP tokens in the farm along with the value. If you want to withdraw your deposited STNEAR-META LP tokens, kick remove from Farms tab under your liquidity and pay with NEAR gas fees 0.00001 NEAR or less than $0.0001652 in gas fees.
Risk and Rewards I copied the fraction of STNEAR-META LP tokens I have deposited into Ref Finance. I have 0.027301 or 0.03% of the pool have 2.689 Million Dollars of TVL. I clicked on calculator and find out how much of field farming rewards I get with current 65% APY. I have $871 invested in this 0.027301 LP pair. I will be making $1.55 per day or $10.847 per week or $46.487 per month or $139.462 per 3 months. Ref Finance is a new DEX and there is always risk of Smartcontract expolits where all funds or partial of funds can be lost with exploits. There is no entry for Ref Finance on defisafety.com. I wanted my Skyward Finance's IDO META tokens values to grow over time.
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Time Stamp: 00:00 Introduction Ref Finance 01:29 Buy BTC from Strike app 02:18 Buy BTC from Robinhood Wallet 03:20 Buy Near tokens from CoinEx 04:11 Bridging Near tokens from Other chains 04:52 Swap META token into STNEAR on Ref Finance 06:06 Depositing STNEAT-META LP Pool on Ref Finance 65% APY 07:26 Risk and Rewards on Ref Finance
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