What is Ref Finance (REF)? Learn all about REF . virtual currency
At the moment, NEAR's ecosystem is gradually completing its own pieces, including Layer 2 with base applications, liquidity pools and Layer 3 with AMM DEX, Borrowing and lending, NFT market,... Today, Hay Mod Game will introduce to you the Ref Finance project - the pioneering protocol in the field of AMM DEX on the NEAR ecosystem as well as about the REF virtual currency!
What is Ref Finance?
Ref Finance is a Defi array application platform developed on Near Protocol . The mission of the project is to bring together DeFi's components such as DEX, lending protocol, and synthetic assets into a single DeFi platform. With the first product is a decentralized exchange under the AMM mechanism ( AMM DEX).
Taking advantage of NEAR's speed as well as low cost and user-friendly infrastructure, Ref Finance's goal is to bring Defi closer to all users.
Outstanding features of Ref Finance
Ref Finance is the project with the first AMM DEX protocol on the NEAR ecosystem and is somewhat similar to Uniswap V2. However, Ref Finance still has different features such as:
- Smart Swap: AMM Ref Finance provides users with automatic trading feature. To put it simply, you want to Swap the NEAR/USDC pair but there are only two NEAR/USDT and USDT/USDC pairs, you just need to choose the NEAR/USDC Swap pair. At that time, the protocol will automatically perform intermediate Swap steps for you.
- SWAP Fee Adjustment: Pool swaps can also be customized, so liquidity providers can set a higher trading fee for illiquid trading pairs, or volatile trading pairs. high exchange rate.
- Commissions: Developers can receive commissions when developing dApps that plug onto Ref Finance's AMM DEX protocol.
- Farming: Ref Finance uses REF or NEP-1541 Tokens to reward Liquidity Providers.
- Staking: In order for REF Holders not to have to passively hold REF without creating surplus value, the Ref Finance project allows Stake REF Holders to earn more REF as well as share in profits from the platform's transaction fees.
What is REF Token?
As mentioned in the previous section, REF is a utility token and is used in a decentralized governance mechanism.
Basic information about REF Token
- Token Name: Ref Finance Token;
- Ticker: REF;
- Blockchain: Near;
- Token Standard: NEP-141;
- Contract: (v2.ref-financial.near);
- Token type: Governance;
- Total Supply: 100,000,000 REF;
- Circulating Supply: No information yet.
Allocation REF Token
Ref Finance with the goal of becoming a decentralized project, the community will play a leading role in project management. For that reason, the project has allocated a large number of tokens specifically for incentivizing users to provide liquidity, similar to their protocol.
60% for Liquidity Incentives (incentive to provide liquidity), where:
- 25% in the first year.
- 18.3% for the second year.
- 11.67% for the third year.
- 5% for the fourth year.
35% for Treasury, of which:
- 10% for Developer fund.
- 2.5% for Skyward Sale.
- 2.5% cho REF Liquidity.
- 20% for further project development activities.
5% for Airdrops, where:
- 3% cho Early users.
- 2% for Strategic Airdrop (unknown lock time).
REF Token Release Schedule
REF Token Sale
REF went live on Skyward in July 2021, with 2.5% of the total supply sold for over $2.5 million, which corresponds to REF's then FDV at $100 million. At the present time, that Token Sale program has ended.
REF Coin Use Case
- Platform Governance: REF Holders are involved in the governance of the protocol in decisions such as Vote for key administrators, plans to launch liquidity incentives or spend money on protocol upgrades and development.
- Platform transaction fee: 0.05% transaction fee will be divided between REF Holder, or Buyback and Burn at the discretion of the community.
- Ecosystem and Protocol Development: The REF Token will be used to reward dedication to the development of the protocol.
Roadmap – Ref Finance project development roadmap
Q3 – 2021
- Upgrade Website, dApps and UI.
- Airdrop for users.
- Launched instant swap feature that allows you to swap assets without deposit and cross-chain smart route swap feature.
Q4 – 2021
- More integration with ecosystems.
- Metamask wallet support.
- Add Indexing service for protocol.
- Allows direct deposit when using credit card (Fiat on-ramp).
2022
- Add Stablecoin pool.
- Launch of lending products.
- Add order book feature for Ref Finance.
Project team, investors and partners of Ref Finance
The information about the project team, investors and partners of Ref Finance is currently not available/unpublished. The Hay Mod Game team will update after the information is released in the future.
How to earn and own REF Token
Currently, you can own REF tokens in the following ways:
- Buy REF tokens on Ref Finance exchange.
- Join the liquidity mining program of Ref Finance when providing liquidity for the project.
REF Token storage wallet
Currently, the REF token is a token with the NEP-141 standard. Currently, the most popular wallet to store this token is Near Wallet.
Exchange of REF Token
Currently, REF Token can only be traded on the project's Ref Finance exchange.
Ref Finance project community and social network
- Website
- Discord
- Telegram
- Medium
Through this article, you must have had your own opinions about the Ref Finance project. The above article should not be viewed as investment advice. Hay Mod Game is not responsible for any of your investment decisions, but will support you all the way to understand the basics and succeed in this extremely potential market!