PembRock Finance is a Near blockchain based leverage farm. On PembRock Finance, you can become a lender and yield farmer. Farmers are able to leverage their current holdings to receive great rewards, while lenders provide the funds that make this possible. As yield farmers, users can take advantage of up to 3x leverage, maximizing returns while being able to adjust their positions in response to any changes in the crypto market. Leveraged yield farming is simply normal yield farming but supercharged! It is the practice of borrowing external liquidity to farm a larger amount of crypto, thus gaining the ability to get increased returns. Pembrock's leveraged yield farming platform under-collateralizes.

First Buy Bitcoin Without Fees from Strike App
First, before you can buy Near you need to be able to buy bitcoin from Fiat. Here is how to buy Bitcoin Without Fees from Strike App.
You can buy Bitcoin from Strike App without any fees. You heard it right-- there is no fees to buy Bitcoin with fiat (in my case USD) in Strike app. I will provide links below to Strike App signup if you do not have one. Strike App you need to do KYC (Know-Your-Customer) with government issued ID. There is no miner fees to send Bitcoin on Strike App due it's use of Bitcoin Lightning Network. There is a weekly limit of $2000 to purchase bitcoins. I love it because it allows me to invest my weekly Starbucks spending few hundred dollars into Crypto Defi platform for higher yields. I will provide a strike signup link below if you do not have one.

Buying Bitcoin Without Fees from Robinhood Wallet
Secondly, here is another way to buy Buy Bitcoin Without Fees using Robinhood Wallet.
As of recently, you can buy Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), DOGEcoin (DOGE), Litecoin (LTC), Bitcoin SV(BSV), Ethereum Classic (ETC) from Robinhood without fees directly from linked bank account and transfer out to external crypto wallet. You need to get a Robinhood crypto wallet. This is different from regular Robinhood stock investing account. I will provide a robinhood sign up link if you do not have Robinhood crypto wallet account. Great advantage of Robinhood crypto wallet is there is no fees to buy any of those cryptocurrencies. Also withdrawal fees are none existent compare to Coinbase and Binance exchanges. I hate withdrawal fees from Coinbase and Binance. It eats up to my purchases when I am little investor trying to put my weekly coffee money into a long term savings.

Where to Buy Near tokens
Thirdly, here is how to Buy Near tokens from Bitcoin you bough from Strike App or Robinhood. You might ask why do I go into this much trouble to buy Bitcoin first, it is because of fee from Coinbase and Binance is too much for little purchases for a little guy like myself. It eats to my little investment. Send your Bitcoins you bought without fees from Strike App or Robinhood Wallet to Exchange like CoinEx. I will provide links below. Trade Bitcoin into Near. Withdraw your Near into a NarWallets V3. NarWallets V3 has a Chrome extension. It is very easy to use. It is just as good as Metamask for EVM chains. In Coin, Near withdrawal fee is 0.02 NEAR that is $0.33 in withdrawal fee.

Where to Bridge Near Tokens
Fourthly, I will show you where to Bridge Near Tokens. If you have crypto in other Blockchain you want to bridge into Near chain, you can use AllBridge to bridge it in. Use AllBridge to bridge your ABR tokens from Avalanche, BNB, Celo, Ethereum, Fantom, Fuse, Harmony, Eco, Polygon, Solana, Terra into Near chain. I will provide a link below on how to Bridge tokens from Terra into Fantom using Allbridge Bridge. After you Bridge ABR, you can use Ref.Finance to swap bridged ABR tokens into any token you want to invest in Ref Finance.

Swap 50% Tokens into WBTC or ETH on Ref Finance
Fifth, Once you have NEAR or other tokens in your wallet, they can be swapped for PEM, REF, or other tokens not listed on centralized exchanges through Ref Finance, Jumbo Exchange, or Tonic. I will show you using Ref.finance to swap NEAR tokens to WBTC. Here I show you how to Swap 50% $META tokens into StNear. Similarly, if you have NEAR you can use REf Finance to swap to WBTC or ETH. I had to Swap 50% META tokens into STNEAR because I have to deposit equal value amount in the STNEAR-META liquidity pool later steps.  Ref Finance does not have Zap method like in Beets.fi where all you need to deposit is one token. It automatically swap 50% of it to the other token on the Meta-STNEAR Liquidity pair. I went to the Swap tab. Took half of Meta tokens in my case 5406 tokens I swap into STNEAR. In Near block chain gas fees are less than $0.0001 in gas fees. Which is fantastic compare to Ethereum where gas fees can be as high as $100 during network busy times! I started to hate Avalanche because gas prices are like $1 during the high periods. I got 25.2 STNEAR. Now I have my 50-50 equal pairs. I should have swap out to NEAR from META. Then stake those in NEAR in MetaPool.app and create STNEAR while earning staking rewards at 24.47% APY. Where is a 0.3% liquid unstaking fee.

PembRock Finance Leverage Farms Liquidity Provider
Sixth, I will show you how to provide liquidity to leverage pools and earn 100% APY. You can leverage up to 3X on PembRock Finance Farms. For that Connect your Near wallet and click on Farms tab on the top.

• Step 1: Open the PembRock Finance app and connect your NEAR wallet by clicking the Connect wallet button in the top right corner.
• Step 2: Once you connect, in the Portfolio Overview section, you can view all the Lend and Farm pools. You can also do this in the respective Farm and Lend sections of the app.
• Step 3: Once you have selected the token pair you wish to farm, click Farm.
• Step 4: Once you have clicked Farm, you’ll be taken to the corresponding page where you can choose which asset in the pair you wish to deposit, the asset you wish to borrow, the exact amounts, and how much leverage you wish to farm with through the slider (1x to 3x).

For example: If farming the wNEAR-WBTC pair, you will need to have funds in your wallet in either wNEAR (if borrowing WBTC) or WBTC (if borrowing wNEAR). If you are holding wNEAR, it will need to be swapped on Ref Finance or Jumbo Exchange to one of the coins in the pair.

• Step 5: Congrats, you’re officially farming with PembRock Finance! Through automation, we allow you to farm in the click of a button — no need to go to another exchange, add liquidity, collect LP tokens, and then deposit them into separate farming pools.

How to close your farming position and claim rewards

• Step 1: Go to your Portfolio and click Farm Positions.
• Step 2: In this section you will see all the active positions in your portfolio. Click Close next to the position you wish to exit.
• Step 3: You will be taken to a screen where you have the option to close the entire position, or just a certain percentage of the position value.

Minimize Trading means that we will convert the minimum required amount of tokens into the borrowed token to pay back any debt and return the remaining assets to you. This can potentially save on trading fees and a negative price impact.

Convert all means that your entire position will be converted to the borrowed token and returned to you after the debt is paid.

• Step 4: If you wish to completely close your position, go to the bottom of the screen and click Close Position, then approve the transaction in your NEAR Wallet.
• Step 5: Congrats! Funds will appear in your NEAR wallet.

All rewards on PembRock is issues as PEM token with total supply of 160 million PEM tokens. DAO participation — users can stake PEM to receive xPEM, as a governance token. I would not hold PEM tokens because as always protocol tokens tend to go down in value with time because of high token emissions over time.

How to Lend of PemRock Finance and Earn 24% APY on WBTC and 15% APY on ETH
Eight, I will show you how to lend or deposit on single sided pools with PemRock Finance and Earn 24% APY on WBTC and 15% APY on ETH. Go to Lend tab on the top. Select your choosing whether 24% APY on WBTC or 15% APY on ETH. I prefer 24% APY on WBTC. If you do not have WBTC in your Near wallet, use Ref Finance to swap NEAR tokens to WBTC. Click on Deposit button associated with WBTC. Click the 100% of WBTC you have and click Confirm and pay NEAR gas fees. That is all it takes to deposit on risk free leverage free depositing for single side depositing on PemRock Finance. There is no risk of liquidation because there is no leverage. Only on those leverage farms earlier you have liquidation risk. More on liquidation risk later.

Risk and Rewards PembRock Finance

• You will experience impermanent loss is a risk that comes up every time someone provides liquidity to a liquidity pool. It is to do with the need to keep the dollar ratio of assets in a pool the same at all times, meaning that if one token goes up or down while another stays relatively stable (or moves in an opposite direction), the pool has to be rebalanced. This changes the proportion of your tokens in the pool and can lead to a loss compared to if you just held the two assets. You will not experience impermanent loss with lend or single sided deposits only on leverage farms.
• There is risk of liquidation occurs when a farmer’s leveraged position suffers from impermanent loss, taking on more debt than can be covered by the value of the initial investment. With No leverage (1x), If the farmer simply uses their own funds, without any leverage, then the risks are no different than using any other yield farming platforms. Impermanent loss is the only consideration. The risk of liquidation rises in line with the amount of funds leveraged, as with 2x Leverage (with debt ratio of 50%) if token1/token2 can fall -61% before liquidation. With 3x leverage with debt ratio of 67%, if token1/token 2 falls -31% you can experience liquidation. Having debt that cannot be covered by the farmer’s initial investment brings liquidation.
• There is also Negative APY is a risk that occurs when the borrowing interest rate is higher than the yield generated from farming with leverage. With debts growing faster than the gains that are made, this could trigger liquidation if not properly monitored.
• As always there is smart contract bugs or vulnerabilities that can be exploited by malicious actors.
• On the rewards side, I like the fact that like 162% APY on wNEAR-WBTC and 128% APY on ETH-wNEAR 3x leverage pools. I am little bearish on NEAR on the short turn so I need to short NEAR tokens to make this strategy delta neutral.

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