Cryptodaily Admin: Good day to you everyone š And welcome back to another AMA with NearDaily. Iām your host Daley and today, Iām joined by Guillaume from MetaPool and Sofia from Pembrock Finance!
Howās it going with you guys?
Guillaume: Hello Daley! Thank you for having me here
Sofia: Hello everybuddy!
Cryptodaily Admin: Hey guys!! Itās my pleasure to have you all here! So howās everybody?
Guillaume: I feel great! What about you Sofia ?
Sofia: Yeah, everything is great
Cryptodaily Admin: Fantastic! So why donāt we start the AMA right away? Is there anything you want to say first?
Sofia: Thanks for the opportunity to introduce our projects and Letās the AMA begin!
Guillaume: Indeed!!
Cryptodaily Admin: Superb! So this AMA is an interesting one, we have 2 CMOs from 2 projects here, however, you will see the correlation between the 2 in the moment. First, letās start with a simple one:
Q1: Please introduce yourself to the NearDaily community! What are you past experiences with developing Blockchain projects?
Sofia: Iāll be the first š My name is Sofia and I am a marketing head at Pembrock Finance. I am proud to be a part of the awesome team and work with Igor Stadnyk, the founder and CEO of PembRock. His extensive experience, the developersā unique solutions and my teamās marketing knowledge make the PembRock journey exciting and marked by significant milestones.
Guillaume: My name is Guillaume and I am the marketing head of Meta Pool. I have been a Blockchain enthusiast and investor for several years now. But Meta Pool is really my first Blockchain project as CMO. Before that I was the co-founder of 3scale, an API Management solution that has been acquired by Red Hat. And I also co-founded a few other projects, some failed, some successful
Cryptodaily Admin: Great to know you all! So I understand that Sofia is doxed, given that weāve been having an AMA before with Pembrock, but what about you Guillaume? Is the metapool team public?
Guillaume: Sure! The Meta Pool team is public. Claudio Cossio and Lucio Tato are the co-founders of Meta Pool. And you can google me too š Guillaume Balas
Cryptodaily Admin: Here we go: https://www.f6s.com/guillaumebalas/about. This you?
Guillaume: This is me
Cryptodaily Admin: Ok! So thank you for introducing yourself and the Team! Letās move on to getting to know the projects! My next question is:
Q2: In short, what is Metapool and Pembrock Finance? What innovative solutions are you guys bringing to Near?
Guillaume: Gotcha! Meta Pool is the leading liquid staking solution for $NEAR and wNEAR token holders to earn staking rewards and maintain their liquidity to participate in DeFi protocols such as PembRock Finance on NEAR and Aurora. Users stake $NEAR and wNEAR with Meta Pool receive in exchange a NEP-141 standard token, stNEAR (staked NEAR). stNEAR simultaneously accrues staking rewards and unlocks usersā liquidity enabling them to participate in DeFi activities (e.g. lending, farming, borrowing). And we have recently launched Meta Yield which is actually the reason why I am here today š! But I will talk about Meta Yield in more detail a bit later. I donāt want to spoil Sofiaās time.
Sofia: Haha, you donāt spoil )) Talking about PembRock. PembRock is the first-ever NEAR-native leveraged yield farming project in the ecosystem. We created PembRock to bridge the gap between those who wish to lend AND farm with leverage for solid returns. We hope our protocol becomes a go-to leveraged yield farming solution for the NEAR family. PembRock will be user-first, simple and easy to use. Weāre looking to introduce many new users to NEAR leveraged yield farming who have little to no past experience with similar products.
On a side note we opted for a rocker corgi for a mascot as Igor is a proud owner of a badass corgi š
Cryptodaily Admin: I canāt ever imagine having a corgi thatās a badass though š They are all super cute and bouncy.
But we would love to know more about Meta Yieldl!
Q3: Currently, Meta Yield is being mentioned a lot on Twitter, can you explain what it does and how it contributes to Metapool?
Cryptodaily Admin: Guillaume, do you want to take this one?
Guillaume: Sure! Before I start I wanna say that Claudio is here with us!
Cryptodaily Admin: Hey Claudio, you just got off work?
Claudio: Just got off the baby shift mate! Apologies for that, but I have a 3yr old kid who is getting full on 24/7 coverage, no more moonlighting, full on crypto since Dec 1 š. Anyway, letās continue with the AMA š
Cryptodaily Admin: Sure, great family youāre having there. Please continue Guillaume!
Guillaume: So, Meta Yield: Meta Yield is a kickstarter for new projects on NEAR to get funded by the community. It leverages staking to de-risks the financial backing of these projects, where projects can request an amount of $NEAR that they need to launch their product/dApp and backers get the opportunity to back project(s) they deem valuable for the NEAR ecosystem and community in exchange for the projectās native tokens. The benefits of Meta Yield are multiple:
For Backers:
ā Exposure and access to different projects and their tokens
ā De-risked backing: backers are not committing all their NEAR tokens in a project, just their staking rewards
ā Backers get a Bond with the NEAR value of their deposit
For Projects:
ā Get exposure to and funding from the community
ā Contribute to and support the decentralization of NEAR
ā Easy channel to distribute their tokens
ā Not a price discovery mechanism: projects are getting funding to kickstart the development
Hopefully I didnāt miss anything. But, yeah, all in all that would be what Meta Yield is about
Claudio: Most importantly, we are taking a long term approach to launching projects on both NEAR and Aurora. We are giving projects the necessary runway to launch their Dapps and platforms on NEAR. This is crucial during turbulent market conditions as we want projects to succeed and as anyone in crypto knows, it takes time to build value and the community behind to support it. That is why we are very excited to support PembRock Finance on their launch. We know they have been building for quite a bit of time and have been in the community building since Day 1
Cryptodaily Admin: And thatās exactly what weāre talking about right now: Your partnership with Pembrock Finance:
Q4: Why did Pembrock Finance choose Meta Yield to hold the fundraising campaign?
Sofia: Thatās a cool question! As I was impressed about what the guys from Meta Yield are doing with NEAR Ecosystem! Me and my team believe in innovative NEAR-based products, they are exciting and DeFi-oriented. Apart from the fact that Meta Yield has great exposure to the NEAR community, we stand by the idea behind this de-risked investment process. I think that Meta Yield and PembRock are a perfect match ā PembRock is the first-ever leveraged yield farming platform on NEAR, and Meta yield is a unique platform that empowers new projects like ours.
Guillaume: Thank you Sofia and PembRock team! š
Cryptodaily Admin: Ok so the audience reading this AMA live is obviously investors, they want to invest in projects that are promising hopefully for a long run, but at the same time, they want to know in detail whatās in it for them when investing. Thatās why I have my next question:
Q5: How can users from both platforms benefit from this partnership? Also, is this a long-term collaboration?
Guillaume: Absolutely Daley! Maybe one technical precision. We canāt really talk about āinvestorsā, but rather ābackersā or āsupportersā of a project such a PembRock Finance, who will receive rewards from that Project š But to answer your question, users of Meta Yield and backers of Pembrock will benefit in multiple ways:
PembRock is really a first of its kind project on NEAR and we are convinced that it has a great value proposition. Additionally the team behind Pembrock is a super experienced and solid team. So that is the first value Backers will get from supporting Pembrock.
The second benefit they will get are $PEM tokens that they will receive as rewards when supporting PembRockās project. Without risking their $NEAR tokens at all. They will only give away the future staking rewards of their NEAR to PembRock
Claudio: Again the benefit for projects is the long term commitment from the backers! This is crucial, it is a 12 month support that a project will be receiving from backers and it is an opportunity for PembRock to nurture their relationship with their backers and long term NEAR token holders, who are supporting their effort!
Guillaume: Absolutely! Claudio is making an important point here!
Sofia: Thanks for such pleasant words about PembRockāŗļø From our side, we believe in the robust DeFi future on NEAR. Both Meta Yield and PembRock are fast-forwarding this future. One of the great benefits is that with Meta Yield, all $NEAR holders have access to new projects they can support without giving up $NEAR and receive additional value with $PEM, for instance. (Thatās what @ClaudioAC is talking about) PembRockās fundraising campaign on Meta Yield is starting tomorrow and we are very much looking forward to it! We also donāt stop our cooperation on that and have plans to continue working with Meta Pool to further expand DeFi into the NEAR ecosystem.
Claudio: Exactly! This is just the start!
Cryptodaily Admin: I see, so what if the backers change their minds? Is this 12-month-support mandatory for all who want to support 1 project?
Claudio: This is a great question! First thing first! If a project does not reach the funding goals, all tokens are returned. For both the backer and the project! Now if the project succeeds to reach the goal, they are commiting for 12 months. We are starting to build a secondary market, so backers can trade their bonds (IOUs) in exchange for their stNEAR at a discount. As for the token rewards, we need to figure out a mechanism to exchange their locked tokens. Now for the main question: Once the locked up period starts, it is a full time commitment. So there is no way to cancel your backing. This is a long term commitment on a project, so DYOR is essential. For now we are just building the secondary market for the bonds, but that is still in the works š And yes we will find ways for backers to leverage their IOUs, so they can continue supporting the projects on Meta Yield
Cryptodaily Admin: Alright, thank you for clearing that up! So next question:
Q6: How can we join this fundraising campaign between Pembrock and Meta Yield?
Guillaume: The PembRock Finance fundraising campaign will open tomorrow, May 11th at 5am UTC and will run for a period of 3 weeks. The Meta Yield website is live and can be found there: https://metayield.app/.
Cryptodaily Admin: Thank you for the link! check it out if youāre interested people!
Guillaume: Yes! Remember, fundraising campaign opens tomorrow May 11th at 5am UTC
Cryptodaily Admin: I notice we havenāt talked about security measures, so here it comes
Q7: What security measures has Metapool taken to mitigate the possibility of hacks/exploits?
Guillaume: Very important question, Daley. Meta Yield is in the process of being audited by Blocksec. We will publish the report as soon as it is ready. But I am very confident about the outcome: Meta Pool was audited a few weeks ago and everything went fine!
Claudio: Also an important aspect of this is that we are using stNEAR as the main asset to support the projects, which has already been audited by Blocksec. So the staking part is taken care of. For now, MeFota Yield is reviewing the bond contract and the daily linear release of the project tokens, so that is what will be reviewed by the Blocksec team. Shout out to the Meta Pool dev team! Who have done a superb job in delivering Meta Yield ā Ivan, Chema, Lucio, Lautaro, Leandro, Julio, Kun, Rosa, Lucas and Bocheen š
Cryptodaily Admin: Cool! Looking forward to the audit. Iām sure you will pass the audit with ease too. Next question:
Claudio: ready for it!
Q8: What has Metapool achieved since launched?
Claudio: So this is a very important question, and it has been part of our mission since day 1. Our most important achievement is that we are distributing to 87 validator nodes on the NEAR Protocol network. With an average of 110,000 NEAR allocated to each validator node, so our goal of helping decentralize the network is being achieved and we will continue to add more nodes to delegate NEAR to them, this will help build a more robust and censorship resistant network. Also we now have more than 9200+ unique wallets interacting with the Meta Pool platform, both on NEAR and Aurora.
We also launched the 1st liquid staking asset on Aurora, not only for transactions. but also to stake wNEAR through an ETH wallet like Meta Mask! This is not trivial solution and we believe it is something that will set us apart for any liquid staking solution built on NEAR
https://metapool.app/dapp/mainnet/metapool-aurora
We have built the largest utility for any liquid staking asset on both the NEAR and Aurora networks, with solid partnerships in lending and borrowing platforms such as Bastion, Aurigami and Burrow Cash. Also good adoption in DEXs like Ref Finance, Trisolaris, Wannaswap, Polaris Finance, Jumbo and more to come. Excited for projects such as Tonic and NEARMint which are close to launch on mainnet. And of course now PembRock Finance!
Cryptodaily Admin: Ok and for my final questions for Pembrock and Meta Yield:
Q9: What can we expect from Metapool and Pembrock Finance in terms of marketing, partnerships, development, etc in 2022?
Sofia: We have eventful weeks ahead! Feel free to check out all upcoming events on our twitter: https://twitter.com/PembrockFi. Weāre also moving full-speed ahead with our roadmap. The plan is to launch our platform in June ā youāll be able to farm with leverage on NEAR quite soon! Check out our full roadmap here: https://pembrock.finance/#roadmap. Regarding the partnerships, weāve already joined forces with Ref finance, Big Brain holdings, and Move Capital. We are also looking forward to working with the leading NEAR-native projects such as Meta Poolš
Guillaume: So as you may have guessed 2022 is a very exciting and busy year for Meta Pool! We have Meta Yield launching with the PembRock campaign tomorrow and there is already a significant funnel of projects that will follow the trail of PembRock!! There is going to be this secondary market where Backers will be able to trade their IOU/Bond to get liquidity. Meta Pool is also having multiple news, with new partnerships for an increased use of stNEAR on NEAR and Aurora.
We are also developing new recipes to make it easy for users to convert wNEAR to stNEAR and change their position in farms such as XXX<>wNEAR to XXX<>stNEAR and increase their APY. So stay tuned to all these great upcoming news by following Meta Pool on Twitter: https://twitter.com/meta_pool, and keep on staking with https://metapool.app
Cryptodaily Admin: With this we are now at the end of our AMA session with MetaPool and Pembrock Financeš„š„š„
Time for wrapping up, any last words you would like to say to our community?
Sofia: I am fascinated about this AMA. Thanks for the invitation. Hope the AMA was interesting for the community š
Guillaume: Thank you so much for having us here Daley! Thank you to Sofia and the PembRock team for trusting Meta Pool and Meta Yield to launch their fundraising campaign! Thank you to the NEAR Daily community for their time and participation! We hope to see you soon on Meta Pool and Meta Yield!
Claudio: Thanks everyone! Thanks NEAR DAily Community! You have been great!
Cryptodaily Admin: Itās been such a pleasure talking to Sofia, Claudio and Guillaume about Meta Yield and Pembrock Finance. We hope nothing but the best for your upcoming fundraising campaigns! Take care guys!
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