cryptodaily.io hosts an AMA with PembRock Finance. #PembRockFinance #Near #NearDaily #AMA
Cryptodaily Admin: Hello everyone 👋 It’s great to see you all! I’m your host Daley and today we welcome Mr. Igor Stadnyk – Founder and CEO of PembRock Finance to our community!
Good day to you Igor! How’s everything?
Igor Stadnyk: Hi! I’m doing good!
Cryptodaily Admin: Are we ready to start the AMA 🔥
Igor Stadnyk: Sure!! Lets to it!
Q1: What is PembRock Finance all about? Why don’t you summarize the purpose and vision of this project for the viewers?
Igor Stadnyk: PembRock Finance is the first leveraged yield farming project on NEAR Protocol. In keeping with the ethos of the NEAR blockchain, we have focused on user-friendliness, and believe PembRock has everything it needs to become the go-to project for those looking to lend and farm with leverage for great returns.
One of my favorite parts in DeFi is yields, and PembRock knows how to find good one. More over this, PembRock can provide you with additional capital to increase your yields
Cryptodaily Admin: May we know in what way?
Igor Stadnyk: One part of our protocol is the Lend-Borrow protocol. You can put your money in a single asset and get your rewards while someone is using it. just like Burrow, or compound or Aave. Worst case scenario – no one utilizes your money, you will have the same amount as you started. If someone is utilizing it, you will have your profit. We are fully on chain protocol, completely decentralized. So to provide Farmers with additional capital, we need to get it from somewhere. That’s why on one hand we are borrowing protocol and on the other hand we are providing loans to the one who wants to farm. The crazy part about it, that loans are undercollateralized!
Cryptodaily Admin: I see 👀 you’re not just focused on yield farming but also lending and borrowing And of course we will get to know more about your future features later on the AMA as well!
Q2: Could you tell us a little bit about yourself and your team? What are your past experiences? Are you a fully doxed team?
Igor Stadnyk: I have been working on blockchain projects since 2012. I founded the blockchain development company INC4 in 2014, and we have delivered over 90 projects successfully. I am also the CEO Minerall, a predominantly Ethereum mining service, and the CTO of Ambrosus, a level-1 blockchain EVM-compatible with over 700 nodes!
My team is composed of trusted developers who have crossed over into the blockchain sector in the last few years, seeing how much promise and growth there is. We are supported by the INC4 NEAR Guild, as well as the NEAR Foundation, who we received a $75,000 grant from just recently to develop our project.
All information about our team is open for the community to see, simply go to our website: https://pembrock.finance/#team
We are building a protocol in a way DAO controls it. So if in future DAO will want to change developers or do some pivots – it can do. We are only executing what DAO request and to participate in DAO you do not need to disclosure your ID
Cryptodaily Admin: And fyi, you can also check out their medium here: https://medium.com/@pembrock.finance
Q3: Let’s take a tour of your roadmap, I can see you’re researching ref.finance and integrating them into PembRock as well. What’s exciting about Ref.finance that led to this decision?
Igor Stadnyk: Yes, we are integrating their liquidity and farming pools to our protocol. Ref.finance is the biggest DEX on NEAR Protocol — it is constantly growing in terms of users, features, and consequently, transactions. The team is similarly impressed with what NEAR is doing in the blockchain and crypto space, so we believe we’re a natural fit for each other. With PembRock and Ref.finance, farmers will be able to borrow any coin available and create a leveraged position.
When we will have more native NEAR opportunities to farm, we will definitely add them. I think next one is Metapool, Jumbo
Q4: The next milestone has a PEM-NEAR liquidity pool, what is the reward of this pair? And what is its utility in the protocol?
Igor Stadnyk: PEM-NEAR is our very first token pair, and will be available on Ref Finance, in order to attract early investors who provide liquidity to our protocol, we have an LP incentivization program which is part of our tokenomics. Those who provide liquidity to the PEM-NEAR pool will get token rewards, in $PEM, for a limited time.
Talking about utility. Our protocol is a tool which will help people earn money. 10% of their profit will immediately buy PEM from the market and put it in a protocol profit vault. So we have automatic buy back tokens from the market, which will definitely move the price.
And next question: How can I get a part of the protocol profit? -This is really simple: You just stake PEM tokens on our site, and you will have your part in protocol profit, no additional emission, no crazy printing. Only profit from protocol. This is fair, this is simple
Cryptodaily Admin: Yeah simple as that, it’s all done in smart contracts. So that’s what you are doing in your second milestone. The third one is going to introduce the lending and borrowing mechanics, which we had a peak earlier
Q5: As far as I understand, lending/borrowing is nothing new in this market, so where are you going with the lending/borrowing protocol of PembRock?
Igor Stadnyk: Yes, lending and borrowing is nothing new, but farming with leverage is still a newish concept. At the moment, most people could name Alpha Homora (Ethereum/Fantom/Avalanche) and Alpaca Finance (BSC/Fantom), but that’s about it. We aim to be the third big name in this space with a focus on user-friendliness. Many newcomers see the complexity of many DeFi platforms which discourages them from participating. The only way to truly bring DeFi to the masses is to make products engaging and intuitive, which is what we intend to do.
Cryptodaily Admin: That’s gonna be something to work hard for and we do hope PembRock Finance can pull it off 👏
Igor Stadnyk: We are not afraid of this complexity of task. And I’m sure we will deliver!!
Cryptodaily Admin: And that’s what I’m looking for in every DeFi project as well, making it as easy to use as possible
Q6: Let’s dive into your tokens $PEM. Can you share with us your tokenomics? And what are some of its use cases?
Igor Stadnyk: PEM is our project’s native token, used primarily in these four ways:
As a part of our reward mechanism for interacting with our protocol.
As an additional bonus for those who provide funds to our liquidity pools.
To stake within the PembRock Finance ecosystem — with rewards paid out in PEM.
For DAO participation — users can stake PEM to receive xPEM, our governance token.
Here is an overview of our tokenomics:
Cryptodaily Admin: And I thought $PEM would be your governance token. Besides governance, what can we do with xPEM?
Igor Stadnyk: The idea is similar to CVR=>XCRV. While PEM is used for trading, LP, staking. xPem is a solemn governance token. This will help you to distinguish voters from traders. If you want to understand what amount of xPem you need to get to get your vote pass, you just go to explorer and do the math. while PEM will be all token counts, xPEM is only for voting
Cryptodaily Admin: Thank you for clearing this up!
Q7: There is the “reinvest mechanics” in your development plans as well, can you elaborate on this feature and is it like compounding?
Igor Stadnyk: Yes, our “auto-reinvest” involves profits being automatically put back into the Ref Finance pool. These profits can be pulled out at any time, but as long as they are kept in, over time will generate compounded rewards!
Q8: Are there any exciting events coming up? And where can we find out more about PembRock Finance?
Igor Stadnyk: It’s good that you ask! We are currently in the second week of our early investor token sale. We are offering two batches of tokens with the following conditions:
For one batch of 10 000 000, there is a 50% discount with a linear unlock of tokens over a 2 year period. This works out to ~4% a month, with tokens unlocked every second!
For the second batch of 10 000 000, there is a 50% discount with a 1-year cliff. After the first year, there will be a linear unlock over the next 12 months. This works out to ~8% a month, with tokens unlocked every second!
After this we will follow up with launchpad opportunities: Skyward + Bocachica + new launchpad from Metapool, which will be followed by LP incentivisation programs. A lot of things are coming soon!
this is token sale: https://medium.com/@pembrock.finance/announcement-pembrock-finance-token-sale-c647bd358e63
But to be in touch it is better to have all news:
https://medium.com/@pembrock.finance
We do not spam with posts, so it will be only important stuff
Cryptodaily Admin: With this we are now at the end of our AMA session with PembRock Finance 🔥🔥🔥
Time for wrapping up, any last words you would like to say to our community?
Igor Stadnyk: It was awesome speaking to you guys, a lot of great questions. I think we are all gonna make it!!
Cryptodaily Admin: It has been a pleasure talking to you too Igor 🙌 Thank you for being here with the NearDaily community! Best of luck to PembRock Finance and your upcoming integration with Ref Finance 🔥
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