Ref Finance NFT Staking

The Ref Finance team, have been brewing on crossing communities between DeFi and NFTs within one ecosystem, NEAR. NFT staking has been the talk of 2022, the new path for hodlers of these non-fungible tokens by enabling diversified usability, better say increase yields.

What is NFT staking?

The action of staking your NFT on a platform or a protocol in exchange of receiving rewards in native assets or partners assets, and other benefits at time. Instead of simply buying NFTs and letting them sit in your account, the idea is that you can stake and earn interest from them, all the while keeping the ownership over the artworks.

Phase 1

The first phase is as anything in crypto always a try-out, an A/B testing which will be reassessed after 4–5 weeks, end of April 2022.

• NEARNAUTS NFT staking pool on Paras will be the first NEAR native project to receive $REF rewards for stakers. Date: 25th of March until 25th of April
• ASAC NFT staking pool on Paras will be the second NEAR native project to receive $REF rewards for stakers. Date: 1st of April until 29th of April

Phase 2

Depending on the community feedback after Phase 1, we will assess on continuing to support these two pools and perhaps add new NFT projects to receive $REF rewards.

They want to incentivise Ref users to discover new projects and increase visibility for NEAR NFTs, as well as invite the NFT community to discover DeFi through $Ref.