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NearX

NearX

What is NearX?​

NearX is a token that represents your share of the total Near pool deposited with Stader. As soon as you deposit Near on the Stader smart contract, you receive newly minted NearX, based on the exchange rate at the time of staking. Stader smart contracts accumulate the Near rewards & restake them into the smart contract once every epoch increasing the NearX exchange rate.

What is the NearX exchange rate and how does it change?​

The exchange rate represents the total value of the Stake Pool for every NearX in circulation.

Exchange rate=Total Near in Stake poolNearX in circulation{Exchange\ rate} = {{Total\ Near\ in\ Stake\ pool}\over{NearX\ in\ circulation}}

At launch, the NearX exchange rate is initialized to 1. When rewards are added to the pool, the NearX: Near exchange rate will increase.

Exchange rate(after rewards)=Exchange rate(before rewards)+Rewards AddedNearX in circulation{Exchange\ rate(after\ rewards)} = {Exchange\ rate(before\ rewards)} + {{Rewards\ Added}\over{NearX\ in\ circulation}}

How much NearX will I get after staking NEAR?​

You will receive NearX tokens equal to the amount of Near staked divided by the exchange rate.

Where can I use NearX?​

We have worked on an extensive list of partnerships which will support NearX. The spectrum of partners will include DEXs, yield farming, lending/borrowing and more. The following list of partners will go live over the coming week(s)

1. NearX Liquidity Pools on​

  • Ref Finance
  • Trisolaris
  • Jumbo Exchange
  • Tonic
  • Spin

2. NearX lending/borrowing on​

  • Burrow
  • Bastion
  • Aurigami

3. NearX yield farming on​

  • PinkPea Finance
  • BlueBit

Many more to come!