Adding WOO Liquidity to NEAR Ecosystem
As the multi-chain world continues to expand, WOO Network aims to closely align with the top layer one networks. With NEAR’s large fundraising rounds breaking crypto headlines over the last few months, WOO Network is keen to not just integrate its fast blooming ecosystem, but also strengthen our existing relationship with the network. Partnering with Ref Finance, the first major DeFi application on NEAR, enables WOO DAO to deposit WOO and NEAR tokens into a WOO/wNEAR pool on Ref Finance - improving WOO token’s liquidity on the NEAR network, and taking WOO further into its ecosystem. What is Ref Finance?
<a href="https://app.ref.finance/" rel="noopener noreferrer nofollow">Ref Finance</a> is the first major DeFi application on the rapidly growing NEAR blockchain. Ref is currently an automated market maker, but it has plans to expand into a complete suite of financial products including:
<ul>
 <li>lending</li>
 <li>native stablecoin integrations</li>
 <li>auto router / smart routing</li>
</ul>
Ref Finance is the protocol with the most Total value Locked (TVL) across the NEAR ecosystem, with $136.4 million at the time of writing.
Driven by WOO DAO
Last fall WOO DAO completed a token swap with the NEAR ecosystem to strengthen our existing partnership. With Ref Finance being one of the largest DEX’s native to NEAR, WOO DAO can improve WOO tokens liquidity on the network through their platform. WOO DAO has passed a proposal to deposit $2M TVL into t he WOO/NEAR pool on Ref Finance, as well as providing liquidity mining incentives alongside Ref.
How to Bridge to NEAR
For those of you who are wondering how to bridge to NEAR, we’ve got you covered! First and foremost, make sure to set up a <a href="https://wallet.near.org/" rel="noopener noreferrer nofollow">NEAR Wallet</a> beforehand.
For $NEAR itself, getting on chain is as simple as:
<ol>
 <li>Purchase $NEAR on WOO X</li>
 <li>Withdraw to your NEAR Wallet</li>
 <li>Be sure to convert your NEAR to wNEAR (wrapped NEAR). This can be done by going to <a href="https://pulsemarket.eth.link/#!/" rel="noopener noreferrer nofollow">Pulse</a> Market and clicking the three horizontal dots in the top right, you’ll see the option to wrap/unwrap NEAR. Make sure to leave a bit unwrapped to be used for gas later on.</li>
</ol>
For $WOO, the best route will be:
<ol>
 <li>Send ERC-20 $WOO to your Metamask wallet</li>
 <li>Use the <a href="https://near.org/blog/the-rainbow-bridge-is-live/" rel="noopener noreferrer nofollow">Rainbow bridge</a> to bridge your assets on chain</li>
</ol>
Alternatively: Use Ref Finance to purchase WOO with NEAR
Summary
First and foremost, this partnership helps to further strengthen our relationship with NEAR by partnering up with one of their top ecosystem projects. Secondly, $WOO token holders now have access to liquidity within the rapidly expanding NEAR community.&nbsp; For all the humble farmers in our community, you now have another great option to earn on your $WOO holdings.
We look forward to our continued expansion in the NEAR ecosystem!

WOO Network partners up with Ref Finance

WOO

Other articles published on Apr 15, 2022

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