NEAR Protocol grows with new DeFi capabilities

KYIV, UA, UKRAINE, July 5, 2022 /EINPresswire.com/ -- PembRock Finance, the first leveraged yield farming protocol on NEAR Protocol, has just launched its app on the testnet with full functionality. Prospective lenders and yield farmers will now be able to get a feel for the platform, which promises high and stable yields for cryptocurrency deposits, and secure yield farming with up to 3x leverage.

NEAR Protocol is in the top three fastest-growing blockchain ecosystems, quickly gaining prominence for its user-friendly applications, fast transaction speeds, low fees, high-level security, and of course, a large and active community.

By bringing leveraged yield farming to the NEAR blockchain, PembRock is helping to grow the NEAR ecosystem and bring in more liquidity while offering a greater range of accessible earning opportunities for DeFi users.

What is PembRock Finance?

PembRock Finance is a farming tool that gives users the ability to leverage their crypto funds for farming by up to 3x. PembRock farmers have the opportunity to get higher returns and employ creative new farming strategies that are impossible to execute without leveraging.

Within a secure platform, in just a couple of clicks, lenders provide the funds needed for leveraged farming. Without taking on any of the risks of liquidation, they can gain regular returns which are auto-compounded.

Yield farmers can then leverage their own crypto holdings by up to three times, providing liquidity and then farming in pools by provided by DEXes in the NEAR ecosystem.

Testing the functionality of the app allows users to leave feedback which is then processed and used to refine the product ahead the mainnet release — set for Q3 2022.

As well as conducting internal testing and audits, PembRock Finance is undertaking external audits with Certik and BlockSec, which will be complete within the next couple of weeks.

In just a few simple steps you can try out PembRock’s lending and yield farming functionality.

See our how-to guide.

PEM Farming a Success

In anticipation of the mainnet release, PembRock recently launched its native token, $PEM, which is currently available for purchase and farming on the DEXs Ref Finance and Jumbo Exchange. High APY offerings for PEM pairs and an incentivization program means the token is already attracting significant investment ahead of the launch of the PembRock Finance app.

Igor Stadnyk
PembRock
email us here
Visit us on social media:
Twitter
LinkedIn
Other