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Ref Finance: score, security record and what it is for

58/100SCORE · CMixed record Grade C, fair

Ref Finance is the main decentralised exchange on NEAR. A flawed contract upgrade in 2022 cost around 5 million dollars, and affected liquidity providers were compensated. Liquidity is thin.

The facts

LIVE SINCE: 2021
TYPE: AMM
CHAINS: NEAR
SWAP FEE: Around 0.30 percent.
AUDITS: Audited.
WHO CAN CHANGE IT: REF token governance.

How the score breaks down

security15/30

liquidity12/25

chains8/15

costs13/15

decentralisation10/15

Where it is strong and where it is not

✓ Strengths

The main venue on NEAR
Covered liquidity providers after the 2022 incident

✗ Weaknesses

A 2022 contract upgrade flaw cost around 5 million dollars
NEAR only
Thin liquidity

Exploit history

2022

Around 5 million dollars was lost through a flawed contract upgrade. Ref covered affected liquidity providers.

Our read

The default on NEAR, with a 2022 upgrade failure it paid for. Small ecosystem, thin books.

BEFORE YOU SWAP

Swap keeps failingSlippage, approvals, taxes and thin liquidity. Revoke approvalsEvery swap leaves a permission behind. Clear them. Gas tokensWhy you need the chain's native coin first. Pick a walletYou need self custody before you can use any DEX.

RISK WARNING Crypto assets are highly volatile and largely unregulated. You can lose everything you put in. Nothing on this page is financial, investment or tax advice, and nothing here is a recommendation to buy or sell any asset. Do your own research and never commit money you cannot afford to lose.