What Is PembRock (PEM)?
PembRock is the first leveraged yield farming protocol built on the NEAR blockchain. Users can provide liquidity, farm with leverage, stake, and take governance decisions to secure the future of the platform, all on a fast, secure, cheap, and user-friendly blockchain.
| Coin Basic | Information |
|---|---|
| Coin Name | PembRock |
| Short Name | PEM |
| Circulating Supply | 24,220,000.00 PEM |
| Total Supply | 160,000,000 |
| Source Code | Click Here To View Source Code |
| Explorers | Click Here To View Explorers |
| Twitter Page | Click Here To Visit Twitter Group |
| Whitepaper | Click Here To View |
| Support | 24/7 |
| Official Project Website | Click Here To Visit Project Website |
Why did they build PembRock?
Yield farming is one of the key drivers of the DeFi ecosystem, with the liquidity provided by users helping protocols to innovate, building new features for the benefit of the entire community. Despite this symbiotic relationship, the DeFi sector is still in its experimental stages, meaning that current yield farming projects can be temperamental, hard-to-use, and occasionally, less than secure. It is only through trusted projects that decentralized finance can move into a more mature phase.
PembRock wanted to play our part in this exciting sector, and what better opportunity could they get than building on NEAR, a blockchain which has made huge strides over the past year but is yet to house a leveraged yield farming platform.
Like developers, NEAR Protocol wishes to accelerate the dream of DeFi as an integral part of Web 3.0 that is accessible to all. NEAR:
- Is a fast, inexpensive and carbon-neutral blockchain.
- Incorporates a user-friendly wallet.
- Operates with the Delegated Proof of Stake (DPoS) consensus mechanism, encouraging greater community participation.
- Has a large dedicated community.
$PEM Token IDO
Greater Profits Unlocked
Boost your portfolio — leveraged yield farming gives participants the opportunity to increase their stake with borrowed funds and maximize their profits.
Managed by Community
The community is in the driver’s seat of PembRock Finance’s development and evolution.
Supported by Near Foundation
PembRock Finance has been created with the support of the NEAR Foundation, which delivers grants to developers wishing to expand the NEAR ecosystem with new financial tools.
How does PembRock work?
PembRock couples lenders and yield farmers who are rewarded for providing liquidity within the NEAR ecosystem. On launch, they will support two base assets — NEAR and USDT — and integrate our leveraged farming with Ref Finance.
Lender
The lender deposits their NEAR and earns interest from the borrowing fees paid by yield farmers.
Leveraged Farmer
The yield farmer opens a leveraged yield farming position on a trading pair, borrowing NEAR from the vault and joining the farming pool with leverage. The yield farmer gets higher returns due to the larger stake, but pays a 10% premium for the privilege of using borrowed funds.
Liquidator bot
The liquidator bot monitors all yield farming positions, liquidating those that become too risky. If a leveraged yield farming position does get liquidated, 5% of the position’s fee goes to the protocol, and is then distributed among those who have staked the PEM token.
How to earn with PembRock Finance?
Use additional liquidity
Borrow funds and farm with leverage to get a higher APY.
Invest and earn
Lend your tokens to other participants and earn up to 10% APY.
PEM Token
PembRock Finance’s native token will support the financial ecosystem of the platform, reward early adopters, and provide a governance tool for the community.
Strictly Audited
Before deploying to the mainnet, PembRock is thoroughly audited and tested for security.
Tokenomics
PEM is the native token that helps PembRock Finance to function. It is used:
- To stake within the PembRock Finance ecosystem — with rewards paid out in PEM.
- As a part of reward mechanism for interacting with our protocol.
- As an additional bonus for those who provide funds to our liquidity pools.
- For DAO participation — users can stake PEM to receive xPEM, governance token.
How protocol collects fees
- Farmers are charged 10% of their yield farming rewards.
- Lenders are charged 10% of their borrowing profit.
- Every time a position is liquidated, 5% of the position’s value is paid as a fee.
According to the roadmap, in March-May 2022, the PEM token will be on sale to private investors before the app’s launch on the mainnet.
LP incentivization program – a benefit for PEM holders
Creating a position in the PEM-NEAR liquidity pool with a 6-month lockup allows investors to get a token reward valued at 20% of the amount they have put into the liquidity pool.
PembRock and Ref Finance
Soon, the first token pair from our project will be introduced on Ref Finance, giving greater value for holders of the versatile PEM token. With this integration, 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.
