Near Protocol is one of the most interesting projects at the moment, in my opinion. I want to say right away, this is my personal opinion and I do not pretend to be the truth, I just want such ambitious projects to be heard by the community.
As we know from the latest news, Near Protocol has allocated $800 million for the development of the ecosystem and Defi projects, which is a significant event for the entire project.
Let’s take a look at the most interesting services for trading in the ecosystem.
Ref.Finance
It is number one in terms of volume and number of TVL in the Near Protocol ecosystem. After a recent ref update.finance has become very friendly to new users.
Ref.Finance is essentially a classic DEX platform, except that there are no huge fees here, and transactions last no more than 30 seconds.
To take advantage of all the possibilities, first you need to create a NEAR wallet.
https://wallet.near.org / — link to create a wallet.
The wallet is generated as in most other blockchains and contains a seed phrase, 2fa is also supported by a phone number.
After you have logged in, the full range of ref trading opportunities will be available to ref.finance.
Let’s try to make a few swaps, and also see all the ref features.finance.
Before you start trading, I would recommend getting acquainted with https://sodaki.com / this is a service where you can find information about TVL, the price of coins, as well as the volume of trades.
As we can see, this site has all the information for excellent and predictable trading.
One of the interesting set of functionality is Live Swaps. Here you can view the exchanges in live format, as well as see the opportunities for arbitration. Arbitration on ref.finance is quite possible if you know how to use it.
Back to REF.
After you have selected the swap direction you are interested in, then you can perform it on https://app.ref.finance/
Let me demonstrate how I do it.
First, using Sodaki and its Live mode, I search for the most popular swaps directions, then I just look for this token on Ref Finance and make an exchange.
Before making a swap, you need to make a deposit to the Ref platform. We write the deposit amount.
After that, click the Deposit button and confirm the transaction.
We make an exchange. There is a Pool Fee on the platform, as well as everywhere else on similar DEX.
After swap, you can see the balance of tokens on your account.
The exchange is very fast and cheap. Based on this transaction, you can see that the transaction cost is a few cents, and the processing time is no more than 30 seconds.
So, Swap’s sorted out. In addition, on Ref.Finance there is a Yield Farming option.
The platform has a very cool approach to new farming pools. For example, now you can create farming pool an Aurora/wNear with a reward of X4. It’s super profitable!
Also for new users there are Quiz’s that anyone can pass. Completing the quiz 100% entitles you to receive a bonus. Need to make a Twitter post here.
Conclusion
At the moment, trading on Near is possible only if you have experience and use several services to assess the state of trading. You can also send the earned funds to Yield Farming.
