Information about our Governance token, REF
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)
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
- 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