PembRock Finance will distribute up to 3 million $PEM for its IDO campaign on Skyward. Backers of PembRock will receive $PEM, PembRock’s native token, which supports the financial ecosystem of the platform, provides staking rewards, and acts as a governance tool for the community.
WHAT IS PEM ?
PembRock Finance is the first leveraged yield farming project on NEAR! Founded by NEAR guild masters and having secured a $75,000 grant from the NEAR Foundation, PembRock will provide new tools to reach a wider usership, attracting more investment and expanding the NEAR ecosystem.
How does PembRock work?
PembRock couples lenders and yield farmers who are rewarded for providing liquidity within the NEAR ecosystem. On launch, we will support two base assets — NEAR and USDT — and integrate our leveraged farming with Ref Finance.
The lender deposits their NEAR and earns interest from the borrowing fees paid by yield farmers.
The yield farmer opens a leveraged yield farming position on a trading pair, borrowing NEAR from the vault and joining the farming pool with leverage. The yield farmer gets higher returns due to the larger stake, but pays a 10% premium for the privilege of using borrowed funds.
The liquidator bot monitors all yield farming positions, liquidating those that become too risky. If a leveraged yield farming position does get liquidated, 5% of the position’s fee goes to the protocol, and is then distributed among those who have staked the PEM token.
About the $PEM token
$PEM is a native token of PembRock Finance that will support the financial ecosystem of the platform, reward early adopters, and provide a governance tool for the community.
Token Account ID: token.pembrock.near
Total supply: 160 000 000 $PEM
What are the $PEM, token allocation?
PEM is the native token that helps PembRock Finance to function. It is used:
- To stake within the PembRock Finance ecosystem — with rewards paid out in PEM.
- As a part of our reward mechanism for interacting with our protocol.
- As an additional bonus for those who provide funds to our liquidity pools.
- For DAO participation — users can stake PEM to receive xPEM, our governance token.
All fees are collected as profit and are distributed among PEM holders who have staked in our protocol!
How our protocol collects fees
- Farmers are charged 10% of their yield farming rewards.
- Lenders are charged 10% of their borrowing profit.
- Every time a position is liquidated, 5% of the position’s value is paid as a fee.
Full tokenomics - https://docs.pembrock.finance/tokenomics
Full roadmap - https://docs.pembrock.finance/roadmap
What makes Pembrock unique?
PembRock is the first leveraged yield farming protocol built on the NEAR blockchain. Users can provide liquidity, farm with leverage, stake, and take governance decisions to secure the future of the platform, all on a fast, secure, cheap, and user-friendly blockchain.
About the team
Founder and CEO with a software development background and a proven track record of launching and leading blockchain projects since 2012. Corgi devotee and Lead Rocker at PembRock.
CTO with more than 2 decades of experience in software and hardware development, reverse engineering, and cybersecurity research. Cypherpunk. Web3 & DeFi advocate.
Project Driver with 5+ years in Product IT. Guided by gained experience, Ivan smoothly manages teams of up to 30 people and builds processes from scratch. SCRUM guru.
Public Relations Specialist backed by versatile project experiences in Marketing and Communications for over 4 years. NEAR hodler.
Interface Creator driven by more than 6 years of experience in Product Design and focusing on blockchain projects for the last 3 years. User-friendly interface ninja.
Lead Web Developer with over 10 years of experience developing in different programming languages. Blockchain fan for the last 4 years. Mentor, JS, and ReactJS teacher.
Project Manager with 3+ years of experience who can find the best solution for any project. Highly motivated participant of blockchain-related projects with adorance to the NEAR Protocol ecosystem.
Blockchain Engineer with 5 years of development experience. Blockchain addicted and Rust enthusiast. Founder of his university's Rust club.
Blockchain Engineer with broad experience working with smart contracts and blockchain development. Cheerful coder who loves to code.
Web Developer with development expertise of 2 years in blockchain and performance marketing industries. JS, React, and Node.js wizard.
Web Developer with more than 2 years of successful development background. React, JS, and Python professional.
Web Developer with development expertise of 3 years. NEAR Certified Developer.