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Ref Finance


Discover Ref Finance's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Ref Finance?

Ref Finance (REF) is a decentralized finance (DeFi) protocol built on the NEAR blockchain. It is an automated liquidity protocol inspired by Uniswap v2, Curve Finance, and iZiSwap, offering features such as swaps, stableswaps, liquidity aggregation, and yield farming. The native token, REF, is a NEP-141 fungible token with a total supply of 100 million, used for staking, liquidity provision, and governance. REF is the largest DeFi app on NEAR, providing low fees and instant transaction settlements, making it a significant player in the NEAR ecosystem.

How is Ref Finance used?

The crypto Ref Finance (REF) is used in several ways within the Ref Finance ecosystem:

  1. Staking and Governance: Users can stake REF tokens to earn protocol fees and participate in governance decisions. Staked REF tokens are converted to xREF, which entitles holders to 12% of the trading fees. Additionally, stakers can vote on proposals and determine token incentives.

  2. Liquidity Provision: REF tokens are used to incentivize liquidity providers. Users can provide liquidity to token pairs with REF and earn swap fees. REF LP tokens can be further farmed to earn more rewards.

  3. Treasury and Development Fund: A portion of the REF token supply is allocated to the treasury and development fund, which supports the growth and maintenance of the Ref Finance protocol.

  1. Buyback and Distribution: Every quarter, Ref Finance uses revenue from swap fees and other sources to buy back REF tokens, which are then distributed to liquidity providers and other stakeholders.

  2. Market Incentives: REF tokens are used to incentivize market participants, such as liquidity providers and traders, to engage with the Ref Finance platform.

Overall, the REF token plays a crucial role in maintaining the liquidity and governance of the Ref Finance ecosystem.

How do I store Ref Finance?

To store Ref Finance (REF) tokens securely, it is recommended to use a cold wallet, which is a wallet that is totally offline. There are two types of cold wallets:

  1. Paper Wallet: This is a wallet formed by using a program to randomly generate a public and private key offline. The keys are printed in the form of QR codes, which can be scanned for future transactions. The paper wallet is stored in a secure place.

  2. Hardware Cold Wallet: This is a physical device that stores your private keys offline, providing an additional layer of security.

Using a cold wallet ensures that your tokens are not exposed to potential hacks or losses due to exchange shutdowns, as they are not connected to the internet.

How to buy Ref Finance?

To buy Ref Finance (REF) tokens, follow these steps:

  1. Choose a Crypto Exchange: Select a reliable cryptocurrency exchange that supports REF tokens, such as MEXC,, or CoinEx. Ensure the exchange is available in your region and offers the necessary trading features for your needs.

  2. Create an Account: Register for a free account on the chosen exchange. You will need to provide personal information, including your name and email address. Some exchanges may require you to complete Know-Your-Customer (KYC) verification to increase withdrawal limits and access additional features.

  3. Make a Deposit: Deposit funds into your exchange account using methods such as credit or debit cards, global bank transfers, or peer-to-peer trading. You can also purchase stablecoins like USDT and then use them to buy REF tokens on the spot market.

  1. Buy REF Tokens: Navigate to the exchange's trading platform and search for the REF/USDT trading pair. Place a buy order for the desired amount of REF tokens. You can also use the exchange's auto-router feature to find the best trading routes.

  2. Store Your Tokens: After purchasing REF tokens, you can store them in your exchange wallet or transfer them to a personal wallet for added security.

  3. Monitor Your Investment: Keep track of your REF token investment by regularly checking market prices and performance metrics on platforms like CoinMarketCap or CoinGecko.

By following these steps, you can easily buy and manage your Ref Finance tokens.

Ref Finance
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History of Ref Finance

Ref Finance (REF) is a cryptocurrency built on the NEAR blockchain, designed to provide liquidity and swapping features through its automated market maker (AMM) decentralized exchange (DEX). The project is inspired by Uniswap v2, Curve Finance, and iZiSwap, and its protocol is fully permissionless, removing the need for trusted intermediaries and prioritizing decentralization and censorship resistance.

The Ref Finance ecosystem is comprised of various participants, including traders, liquidity providers, stakers, lenders, borrowers, voters, and developers. These users interact with the platform in different ways, such as trading NEP-141 tokens, providing liquidity, staking for protocol revenue, and participating in lending and borrowing activities.

In terms of funding, Ref Finance has raised $4.80 million through strategic investments from notable firms like Jump Crypto, DragonFly Capital, OKX Ventures, KuCoin Ventures, SevenX Ventures, and D1 Ventures.

The token's market capitalization currently stands at $8.30 million, with a circulating supply of 31.91 million REF tokens. The token's price has fluctuated over time, with an all-time high of $46.75 in April 2024 and an all-time low of $0.04809 in October 2023.

Ref Finance continues to evolve, with ongoing development driven by its team, DAO, and broader community. The platform's features and ecosystem are designed to provide a seamless and efficient experience for users, leveraging the benefits of the NEAR blockchain.

Ref Finance
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How Ref Finance works

Ref Finance (REF) is a decentralized finance (DeFi) platform built on the NEAR Protocol. It offers various services, including swapping, liquidity providing, staking, and yield farming. Here's an overview of how it works:


Ref Finance allows users to swap different tokens, similar to Uniswap. The platform uses a constant product formula (x * y = k) to ensure that trades do not change the value of the liquidity pool. This formula means that large transactions typically execute at worse rates than smaller ones. Additionally, Ref Finance offers stableswaps, which enable users to swap between stablecoins like USN, USDT, USDC, and DAI, using a formula popularized by Curve Finance.

Liquidity Providing

Users can provide liquidity to token pairs by depositing an equivalent value of each underlying token. In return, they receive pool tokens (LP tokens), which track their pro-rata shares of the total reserves. These LP tokens can be redeemed for the underlying assets at any time. Liquidity providers earn swap fees, which are distributed based on their share of the pool.


The native token of Ref Finance is REF, a NEP-141 fungible token with a total supply of 100 million. Users can stake REF to earn protocol fees. Staking involves converting REF to xREF, which allows users to participate in network governance and earn additional rewards. The platform uses a portion of the trading fees to buy back REF and distribute it to xREF holders.

Yield Farming

Ref Finance offers yield farming opportunities through its farms feature. Users can farm LP tokens to earn additional rewards in REF and other tokens. This incentivizes liquidity providers to contribute to the platform's liquidity pools.


The Ref Finance DAO (Decentralized Autonomous Organization) plays a crucial role in governing the platform. The DAO is responsible for adjusting parameters like the coherent factor in the stableswap formula and managing the distribution of rewards to liquidity providers and stakers.


Ref Finance charges fees for using its pools, which vary from 0.05% to 0.3%. These fees are accrued in real-time and can be claimed when users withdraw their tokens. Additionally, the platform has a swap fee of $0.005, which is distributed to liquidity providers.

Security and Risks

Ref Finance emphasizes the importance of decentralization and censorship resistance. However, it also acknowledges the risks associated with DeFi and cryptocurrency investments. Users are advised to do their own research (DYOR) and never invest more than they can afford to lose.

Technical Details

Ref Finance is implemented on the NEAR blockchain and is fully permissionless, meaning anyone can trade and provide liquidity without the need for trusted intermediaries. The platform's smart contract manages automated market maker functions, including swap and liquidity provision. It supports various token pairs and stablecoin pools, and its code is open-source.

Overall, Ref Finance provides a comprehensive DeFi platform that combines swapping, liquidity providing, staking, and yield farming, all built on the NEAR Protocol.

Ref Finance
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Ref Finance's strengths

The token Ref Finance (REF) has several strengths that contribute to its value and utility within the Ref Finance ecosystem:

  1. Governance and Revenue Sharing: REF is a governance token that rewards its holders with a protocol revenue sharing model. This means that users who stake REF tokens can earn fees generated by the protocol, providing a direct incentive for participation and investment.

  2. Multi-Purpose DeFi Platform: Ref Finance is built on the NEAR Protocol, which offers low fees, fast transaction finality, and a WebAssembly-based runtime. This allows for the development of a robust and efficient DeFi platform with various features such as trading, pooling, farming, and lending.

  3. Discretized Concentrated Liquidity: Ref Finance's V2 concentrated liquidity AMM provides significant improvements for liquidity providers. It allows them to allocate capital to specific price ranges, increasing capital efficiency and reducing impermanent loss. This feature also offers a more versatile fee structure, benefiting both LPs and the protocol itself.

  1. Integration and Accessibility: The Ref Swap Widget enables seamless integration of Ref's liquidity into third-party dApps, enhancing user experience and providing more opportunities for developers to implement various trading strategies.

  2. Strong Tokenomics: The token has a fixed supply of 100,000,000, with a well-defined allocation strategy that includes liquidity incentives, treasury, development fund, and strategic airdrops. This ensures a balanced distribution of tokens and supports the long-term growth of the platform.

These strengths collectively contribute to the value and utility of the REF token, making it an attractive investment opportunity within the DeFi space.

Ref Finance's risks

Ref Finance (REF) faces various financial risks that can impact its performance and the value of its native token. These risks include:

  • Credit Risk: The risk of default by liquidity providers or other parties involved in the protocol, which could lead to financial losses and instability.
  • Liquidity Risk: The risk that liquidity providers may withdraw their assets, reducing the overall liquidity of the platform and affecting trading volumes.
  • Operational Risk: The risk of poor management or flawed financial reasoning within the protocol, which could lead to inefficiencies and losses.
  • Market Risk: The risk of changes in market interest rates, volatility, and other market conditions that could negatively impact the protocol's performance and the value of REF tokens.
  • Legal Risk: The risk of regulatory changes or legal challenges that could affect the protocol's operations and the value of REF tokens.
  • Systematic Risk: The risk of broader market downturns or economic crises that could impact the entire cryptocurrency market and the value of REF tokens.

These risks can be managed through various strategies such as diversification, hedging, and risk assessment. It is essential for investors to understand these risks and take steps to mitigate them to ensure the long-term success of their investments in Ref Finance (REF).

Ref Finance
We give you the tools to invest your time and money in 1000+ tokens.

Did Ref Finance raise funds?

Ref Finance
We give you the tools to invest your time and money in 1000+ tokens.

Ref Finance's ecosystem

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Ref Finance
We give you the tools to invest your time and money in 1000+ tokens.

Ref Finance’s team

  • Marco: Lead Backend Developer
  • Joe: Lead Frontend Developer
  • Gordon: Senior Backend Developer
  • Dom: DevOps
  • Nature: Frontend Developer
  • Luke: Frontend Developer
  • Willa: Lead QA Engineer
  • Amy: QA Engineer
  • Mency: Designer & UX
  • Zero: Product & Project Manager
  • Ray: Researcher Analyst
  • Anne: Lead Marketing
  • ve$RUST: Leader from Proximity Labs, involved in Product Design, Business, Marketing, Strategy, and Growth
  • Cudam: Moderator
  • Larry: Moderator
  • Rim: Moderator
  • Sanket: Moderator

Whalee AI

The fundamental analysis assistant for crypto value investors.


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