What’s BRRRing on Burrow?

April 2022

  • Burrow started off mainnet with a bang through the introduction of the Mr. BRRR NFTs— an NFT voucher created by the Mr. Brown project representing 100 future $BRRR tokens. All 140 editions sold out, with the floor price jumping from 5 $NEAR to 26.5 $NEAR today. The redeem period will begin once $BRRR pre-mining period ends.
  • Mainnet launched on March 28th, with $BRRR rewards distribution starting on the 30th.
  • Burrow has successfully completed two audits by BlockSec prior to mainnet launch
  • Now you can choose between the NEAR web wallet or Sender wallet when you connect to Burrow.
  • Earn more than just $BRRR as rewards for supplying and borrowing on Burrow. Multi-token rewards coming soon.

May

  • After weeks of speculation, NEAR’s native semi-algorithmic stablecoin, $USN, launched on the 25th. What is relevant to Burrow is that the $USN launch post writes,

$10m+ in rewards will be distributed monthly to $USN holders through lending protocols on NEAR and Aurora (NEAR’s EVM layer), such as Burrow, Aurigami, and Bastion.

The first lenders will likely receive over 20% APY through additional incentive mechanics.

  • Once $BRRR tokens are unlocked and tradeable, the xBRRR staking program will kick in. In the tokenomics article, we outlined xBRRR staking as such:
  • Coming soon: $Aurora, $Ref…and more?
  • Folding, or looping, is a degen strategy where you deposit x, borrow y, deposit that y back in, borrow more, deposit again…and so on. On Burrow, you can fold up to 4–5x with minimal risk, given that loans are overcollateralized. Currently, you have to go through multiple steps manually to fold on Burrow. Soon, you will be able to deposit and borrow ∞ with one click. Aping has never been easier.

June

  • Soon Metamask users will be able to directly connect to Burrow without creating a new NEAR wallet. Get ready to burrow straight from Ethereum to NEAR✅
  • Soon users will be able to repay their loans directly from deposits, without having to withdraw their funds first.
  • “wen dark mode,” they asked. Soon to be delivered!

Join the Burrow Hog Squad

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Supply and borrow interest-bearing assets (stETH, stNEAR, aUSDC) on NEAR

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Burrow

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Supply and borrow interest-bearing assets (stETH, stNEAR, aUSDC) on NEAR

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