LiNEAR Protocol is thrilled to announce another NEAR ecosystem partner. LiNEAR Protocol Partners With Burrow, an interest rate market protocol built on NEAR. The partnership enables the users to deposit $LiNEAR as collateral, and borrow against them to earn interest or unlock liquidity.
The native token $LiNEAR has been officially listed on Burrow. Starting on May 26, users who deposit $LiNEAR will be able to earn multi-token rewards for the first 60 days. Currently, the platform offers a daily reward pool of 50 $LiNEAR, and a floating amount of $BRRR. Users who borrow $LiNEAR can also enjoy $BRRR rewards. Head over to https://app.burrow.cash/ now to supply and borrow your $LiNEAR!
“We believe decentralized money markets act as a major pillar for the NEAR DeFi ecosystem. Our partnership with Burrow has given $LiNEAR much needed composability and utility to integrate with other NEAR-native DeFi primitives,” said the LiNEAR team.
About LiNEAR Protocol
LiNEAR Protocol is a liquid staking solution built on the NEAR Protocol. LiNEAR unlocks liquidity of the staked NEAR by creating a staking derivative to be engaged with various DeFi protocols on NEAR and Aurora, while also enjoying over 10% APY staking rewards of the underlying base tokens. LiNEARProtocol the cornerstone piece of the NEAR-Aurora DeFi ecosystem.
Burrow a decentralized, non-custodial pool-based interest rates platform that enables users to supply assets to earn interest and to borrow against them to unlock liquidity. Burrow is similar in nature to Aave, Compound, and other pool-based protocols.
How to start?
A. Go to burrow.cash and launch the app. Connect with your NEAR wallet (support for more wallets will be add soon).
- Supply: deposit assets and earn interest
- Borrow: use your deposited assets as collateral to borrow more assets
- Stake (coming soon): stake your BRRR tokens and receive xBRRR tokens to enable voting rights and boosted rewards
Which assets can supply and borrow on Burrow?
A. Currently, NEAR, stNEAR, ETH, USDC, USDT, DAI, and wBTC.
In future, other assets such as stETH, stSOL, and further stablecoins will be add.