Finoa premieres in-custody liquid staking of $NEAR, announces Meta Pool partnership
Our partnership with Meta Pool, the leading liquid staking solution built on NEAR, is now live. The integration is set to allow investors to earn rewards on their staked $NEAR tokens while keeping their investments liquid so that they can further engage in other DeFi activities.
Meta Pool is a liquid staking protocol supporting $NEAR and wNEAR token holders. With a total value locked of more than 8 million $NEAR, it was created to overcome the problems associated with Proof-of-Stake on NEAR, namely illiquidity, and accessibility. After the mainnet launch in August 2021, Meta Pool has emerged as one of the key protocols driving liquidity and decentralization in the NEAR ecosystem.
Following the partnership, Finoa customers holding $NEAR and wNEAR tokens can stake with Meta Pool and receive stNEAR.
NEAR’s first liquid staking derivative, stNEAR is a NEP-141 yield-bearing asset that allows holders to accrue staking rewards and participate in DeFi activities like lending and borrowing.
This integration is further proof of Finoa’s commitment to promoting decentralization in the NEAR network while providing the regulatory compliance and capital efficiency sought by institutions and high-net-worth individuals.
“Liquid staking through custodial services will bring liquidity and security to NEAR. For institutional investors and high-net-worth individuals with specific needs, we know Finoa is delivering, and that’s why they are a key partner for us.” – Claudio Cossio, Co-Founder of Meta Pool
Why Meta Pool?
The NEAR DeFi landscape has been steadily expanding for the last couple of years. However, the inability to generate returns on staked $NEAR has posed a challenge to the widespread adoption of NEAR staking. Meta Pool resolves this shortcoming by letting investors not only stake their tokens to earn rewards but also get additional returns from on-chain activities.
Commenting on the partnership, Co-Founder & Co-CEO Henrik Gebbing said:
“We’ve been supporting the NEAR ecosystem since day one, and are excited to work with the Meta Pool team to further enable institutional participation, growth, and decentralization of the network.”
The Meta Pool community and the team at Finoa share the joint vision of enabling decentralization and improving the censorship-resistance of the network. This integration will act as a further catalyst toward increased capital efficiency and utmost security for institutional engagement in the NEAR ecosystem.
Launched in August 2021, Meta Pool was founded by Lucio Tato and Claudio Cossio with the vision of making staking solutions more accessible and user-friendly. As the leading liquid staking platform, it aims to solve the challenges associated with staking $NEAR and distribute the Proof-of-Stake infrastructure in multiple validators.
The Meta Pool project is backed by prominent industry experts like A&T Capital, Palmera, and DI Ventures. In February 2022, BlockSea completed the audit of the company, confirming the implementation of the highest security standards.
Finoa is Europe’s leading crypto-asset platform designed to fulfill the needs of institutional investors. The company serves high-profile investors throughout the world, including renowned venture capital firms, corporates, crypto hedge funds, and high-net-worth individuals.
Founded in 2018 by Henrik Gebbing and Christopher May, Finoa offers institutional investors a range of financial services like custody and staking. Following the vision of providing access to the web3 and DeFi space, Finoa provides day-one support for emerging protocols and in-demand projects.