[DeFi] muti goes DeFi

This month we will be exploring the world of defi with the collective to discover new ways of becoming more self sustainable.

We will use 100 USD on NEAR defi platforms such as ref.finance and will document the process/outcome in this post.


Amazing! Do you have a plan in place on how you’re going to utilise it atm?

If your asset is NEAR, I’d consider staking 50% into Meta Pool to get 75 stNEAR (and earn rewards whilst remaining liquid).

Deposit the other 50% into Ref Finance to get wNEAR.

Then provide liquidity to the stNEAR/wNEAR pool to farm more rewards on Ref.

Good luck! :raised_hands:


Thank you @David_NEAR !
We don’t have a proper roadmap for this yet, the council will meet this week and we are more than happy to use your tips to get familiar with the world of DeFI! We will definitely document our steps in here!


Update on this, we only have been able to start the defi journey now due to some personal obstacles in the council’s life BUT:

We used the 100 USD (9.4N at the time of receiving the budget) on Metapool & ref.finance as suggested & ​topped it up with 10.6N from our buffer to have a round number and as in Metapool the min. deposit is 10N. So overall defi value 20N.

The received ~9.8 stNEAR from Metapool have been deposited the stNEAR/wNEAR (current APY 10.8%) pool together with the 10N from our buffer. Now we’ll wait and observe.


We received 0.728 REF (currently 1.98$), the current APY went down to 8.74%.


Update January:
We’ll add another 100 USD (currently 5.6N) to the stNEAR/wNEAR pool (APY currently 12.29%):
2.6 N as wNEAR & 2.6 stNEAR (incl.fees)

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Update on mutiFi

We created a DeFi focused wallet (mutiprops.near), to keep the funds separate from the collective wallet, having the sole purpose of covering costs of props when muti hosts events/residencies and experience with deFi/savings, in order to build a more self sustained future, allowing to have a clearer separation of fund management.

February update:
We added another 8.1 NEAR from Feb. DEFI allocated budget
We added another 7.3 NEAR from leftovers of Feb. buffer