Information about our Governance token, REF

General Information

REF is a Governance token that also rewards its holders with a protocol revenue sharing model.

  • Token name: Ref Finance

  • Ticker: REF

  • Fungible Token Contract: token.v2.ref-finance.near

  • Fungible Token Standard: NEP-141

  • Fixed Supply: 100,000,000

  • IDO: 2,500,000 auctioned via Skyward Finance (July 26–31, 2021)

Token Allocation

Private Fundraising

In March 2022, Ref Finance has closed a strategic Over-the-Counter (OTC) deal with professional investors as well as business angels.

Professional investors are:

The objective of the fundraising is to support and cover the development cost of the solution for at least 24 months, starting from March 2022.

The total amount raised was $4.5m in stablecoins in exchange for 3,664,943 REF tokens, leading to an average price of 1.227 REF per stable.

The stablecoins breakdown is as follows:

  • $3.6m USDC

  • $0.9m USDT


  • Price: 7-day market Time-weighted Average Price (TWAP) at a 20% discount

  • Lockup: 1-year linear release every quarter

More details can be found in the Ref governance forum.

Token Utility

  1. Earning protocol revenue: Users who stake REF tokens to earn fees generated by the protocol

  2. Pooling: Users who provide liquidity with any REF token pairs earn swap fee from the associated pool(s)

  3. Farming: Users who stake their LP tokens into different farms, thus earning additional revenue

  4. Boosted farming: Users who lock their LP tokens into the REF<>NEAR pool can get LOVE tokens, which can be staked to unlock extra rewards for multiple farms

  5. Governance: Users who lock their LP tokens into the REF<>NEAR pool can get veTokens, which can be used to vote on governance proposals and on the allocation of liquidity incentives

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