Leveraged Yield Farming Comes To NEAR With PembRock Finance

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The crypto sector in general has recently seen some turbulence, mirroring the pullback of tech stocks in the wider market. However, volatility in the market is nothing new, which is why development of DeFi products on blockchain continues regardless, strengthening a rapidly expanding ecosystem.

Over the past year, we have seen the rise of layer 1 blockchains which focus on interoperability, rather than positioning themselves as simply the alternative to Ethereum. Bridges and EVMs have allowed developers to take advantage of small up-and-coming blockchains, without having to turn their back on the bigger players.

In this environment, NEAR Protocol has flourished. Rocketing in TVL over the past year, the blockchain is host to the Aurora EVM and a fast-growing array of Dapps. Soon to launch, PembRock Finance wants to allow yield farmers to earn big on a blockchain that offers unparalleled security, low fees, and fast transactions due to its Nightshade sharding mechanism.

Why Build on NEAR?

The team behind the NEAR Protocol blockchain shares PembRock’s ideal of contributing to a Web 3.0 that is accessible to all through a network of user-friendly applications.

NEAR:

Is fast, inexpensive and carbon-neutral.
Has a wallet that is easy-to-use for new adopters.
Operates a sophisticated Delegated Proof of Stake (DPoS) consensus mechanism, encouraging greater community participation.
Has a large dedicated community.
Hosts a growing network of accessible DeFi products.
Offers Ethereum compatibility through its Aurora EVM solution.

One big point of difference with other layer 1 blockchains is NEAR’s use of Guilds — teams of developers from the community who assist with the development of DeFi Dapps and provide versatile support within the NEAR ecosystem, benefiting users and encouraging greater investment. In this regard, PembRock Finance is supported by both INC4 and Minerall guilds.

PembRock - Leveraged Yield Farming Project on NEAR Protocol

Playing a part in bringing greater investment and liquidity to NEAR Protocol, PembRock Finance aims to give users the ability to receive undercollateralized loans so they can farm for greater returns. Positions can be created and customized in just a few clicks, with automation and an easy-to-navigate interface removing the hassle that makes other DeFi products prohibitive to a wider number of users.

With PembRock Finance there are three ways to earn:

1. Lending

By supplying tokens that will be borrowed by yield farmers, lenders could earn a passive income from their crypto.

2. Leveraged yield farming

Yield farmers borrow tokens supplied by lenders and farm them coud stand a chance to triple returns. Auto-reinvesting means that rewards are compounded!

3. $PEM staking

$PEM is the versatile token that sits at the heart of PembRock Finance. 100% of the protocol’s profit is used to buy back $PEM tokens and distribute them to stakers, with the added benefit of the buying pressure helping to create a more sustainable token. $PEM is used for:

Staking
Rewards for farmers
Governance

PembRock Partners

One of PembRock Finance’s core goals is to integrate with top DeFi platforms in the NEAR universe, linking their liquidity and farming pools so that users can take advantage of a whole load of leveraged farming pools in one place. It is a lofty goal, but one that it believes is achievable due to the support and investment of various partners. Starting with a $75,000 grant from the NEAR Foundation, PembRock has since integrated with and/or received backing from:

Ref. finance

Jumbo

INC4

Alameda Ventures

MetaWeb

Move Capital

Big Brain Holdings

Block 0

Columbus Holdings

Discussions and new integrations are occurring all the time as the project nears launch.

Join a fundraiser and get $PEM!

With PembRock Finance soon going live, you could pick up the $PEM token as an early investor at a fixed price — before it is listed on DEXes.

Skyward - Completed

3 million $PEM tokens were successfully allocated to 155 participants that deposited NEAR. Seeing the huge appetite for the project, the launch of PembRock’s leveraged yield farming project has been brought forward.

Meta Yield - On sale

Meta Yield from Meta Pool uses an innovative fundraising mechanism where investors stake NEAR to get project tokens. The fundraising campaign is underway and more than half the tokens have been allocated, so don’t delay!

Invest in any market

Leveraged yield farming means you could open positions with the potential to profit even in bear markets; so no matter what this year holds, you may have a chance to gain rewards while helping to grow the NEAR ecosystem.

Contact: https://twitter.com/PembrockFi