PowerPool and NEAR Protocol announced collaboration to deliver advanced structured investment/asset management solutions for the fast-growing DeFi sector rapidly developing on Near.
Diversified, high-yield DeFi pools/indexes like those managed by PowerPool bring new investors and persistent liquidity to fuel the growth of DeFi on NEAR.
The planned NEAR pooled investment token, tentatively titled ‘$NEARDEFI’, will be another in the series of similar diversified, actively-managed PowerPool DeFi-themed investment tokens following on from $BSCDEFI, recently launched on Binance Smart Chain. PowerPool’s pooled DeFi investment tokens will make it simple for new users to achieve exposure to NEAR DeFi growth with a single, one-click token, offering auto-harvested rewards.
Powerpool will run smart contracts on NEAR using Aurora, NEAR’s EVM execution environment.
About PowerPool
PowerPool is a multi-chain DAO manager of non-custodial, structured, thematic investment products. These products are rewards-rich, gas-efficient, targeting various L1 and L2 chains, offering average investors easy-to-use hedging options. PowerPool operates an advanced asset management platform using an affiliated network of Power Agent contracts that can automate any on-chain activity.
About NEAR
NEAR is a decentralized application platform built to bridge the users of today’s Internet to the blockchain-based web of the future. NEAR is a PoS layer 1 blockchain platform, built with UX and DevX in mind. NEAR’s novel sharding mechanism, Nightshade, parallelizes computation on chain and automatically increases capacity when needed, resulting in theoretically infinite scalability.
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