This Near Weekly Recap is provided solely for informational purposes and does not constitute investment advice. $NEAR last week fell 12%, opening at $3.78 and closing at $3.23. Bitcoin in the past week once again dropped to $18K, so altcoins are also affected. Projects on ecosystems also slow down. Ecosystem also does not have too many outstanding news releases.
NETWORK GROWTH
Total Value Lock
The Total Value Locked increased to $543.32 million, and TVL decreased by 6.33% in one week. TVL Near decreased by 9.83% in the past week, from $319.94 to $288.47M. TVL on Aurora has decreased, down approximately 1.98% to $254.85M.
Stablecoin Supply
The total supply of stablecoins on AURORA is currently $203.1M, down approximately 9.2% from $223.86M to $203.1M.
In which, $USDC accounted for 69.06%. Although the share of $USD increased in the system, the total supply decreased significantly. From $152M to $140.2M. $USDT accounted for 27.25% with a supply of $55.33M. The rest are other stablecoins accounting for about 3%.
Total Transaction
This week, the ecosystem has only 2,715,434 transactions, an average daily transaction of 387,919 transactions. Up approximately 2.37% from last week, with the number of transactions in week 25 being 2,652,354 transactions. Although the price has recovered significantly in the past week, the number of transactions on the Near ecosystem has decreased significantly. The more clearly the user’s risk aversion during the downtrend period.
The number of stakers
The number of stakers remains at 72,063 stakers last week.
Unique Addresses
The number of unique Near addresses continued to grow significantly this week. Specifically, there are now more than 15,841,485 unique addresses in the Near ecosystem. The number of new addresses created this week is 407,190, The number of new addresses created this week is about 20.3% less than the number of new addresses created last week.
Active addresses
There were 34,434 active addresses this week, a 28.42% decrease in the number of active addresses compared to last week. On average, there are 4,919 addresses with transaction activity in the Near ecosystem every day. The number of new addresses created keeps increasing week by week, But the number of active addresses is increasing continuously.
% Staking/total supply
Near’s staking percentage of total circulating supply is currently 39.05%, down approximately 0.4% from last week.
HIGHLIGHT EVENTS
Nearsend received a grant from Near Foundation
Nearsend received a grant from NEAR Foundation. Nearsend is an easy-to-use tool that allows you to multi-send NEP-141 tokens to multiple addresses in seconds.
More information: click here
USN 2.0 is coming.
Dencentral bank launches USN 2.0 – the first algo stablecoin on Near Protocol. Currently USN 2.0 can be used on Reffinance and Aurigami with stable APY up to 40%
More information: click here
DeFi Lego
New Projects
Yogain is a Web3 Yoga App building decentralized solutions for a flourishing global yoga market in need of high-quality, user-friendly, interactive virtual yoga content.
Magellan is a liquidity aggregator and DEX built on NEAR. Their goal is to provide the most user-friendly swap on NEAR and the most versatile tools for developers to easily build swaps into any application or smart contract
Dex
Rated Pools: pools designed for yield-bearing tokens
Rated pools have been designed to fuel the growth of yield-bearing tokens, taking them to the hundreds of millions trading volume zone, taking advantage of:
- Lower price impact thanks to Stableswap-like invariant
- Higher liquidity with reduced impermanent loss risk
In a nutshell, traders will save 80%+ per swap using the rated pools (pool fee decreasing from 0.3% to 0.05%), in addition to a better rate!
More information: Click here
Ref finance updates their USN/USDT farming pool
To drive demand for USN 2.0. Ref Finance launches a farming incentive program for USN/USDT pair with a total pool reward of up to $1,000,000. With collapsed usage of a lot of Algo Stablecoin recently. $USN still shows its slow and steady steps to reach users. Will Near’s stablecoin succeed?
More information: Click here
Lending/Borrowing
PinkPea Finance Partners with Aurigami to Launch USDC Single-sided Partner Pool
PinkPea Finance has announced a strategic partnership with Aurigami to introduce our second Partner Pool USDC-Aurigami LP is going online! Users can stake USDC to receive $PEA and $PLY rewards.
PinkPea Finance is a fully integrated seamless wealth maximizer solution on Aurora that allows any DeFi user to accomplish their financial tasks without intermediaries.
PinkPea Finance and Aurigami have joined forces to provide users with an additional 3,333,333 $PLY and 66,666 $PEA tokens for 30 days.
More information: Click here
Web 3.0.
Octopus Star Prize Winners — Accelerator Program Summer 2022
The Octopus Network Accelerator Program presents the Summer 2022 Octopus Star Prize winners including projects such as Yogain, Plats Network, Legal Music, MixVerse, HorizonLand.
The Accelerator Program is a quarterly offered a ten-week course that is both open and composable to developers, founders, and Web3 Teams. Even solo founders can apply. Courses are held via online seminars and mentor sessions with invited experts.
The Summer 2022 program received a record-breaking 109 applicants and commenced on May 23rd with 40 accepted Web3 teams from all over the world. 10 graduates were invited to present their projects to a select, invite-only audience of industry experts. Showcase Day judges chose the top five projects to receive the Octopus Star Prize of USD 50k in grants.
More information: Click here
SubQuery, the Secret to Octopus Network’s Explorer
SubQuery is a partnership with Octopus Network, a multichain crypto network for launching and running Web3.0 application-specific blockchains — ‘appchains’.
Any Substrate-based chain can apply to become an appchain in the Octopus Network and Octopus Network’s Explorer will serve the first 100 appchains in their ecosystem. A strong and reliable data backbone was crucial to power this explorer which is why Octopus Network called upon SubQuery.
More information: Click here
Verdict
Above is the important information in the past week of the Near ecosystem. Near’s on-chain indexes over the past few weeks have been mostly flat and slowly falling. Projects on Near are constantly offering attractive incentives to retain users. However, TVL did not increase but continued to decrease. We can clearly see the difficulty of projects in this downward market situation. Users leave the market, Profits drop significantly. Young projects will not be able to survive and go bankrupt.
If you have any questions, comments, suggestions, or ideas about the project, please email [email protected].
Find more information about NEAR
Website: https://near.org/
Whitepaper: https://near.org/papers/the-official-near-white-paper/
Twitter: https://twitter.com/NEARProtocol
Telegram: https://t.me/cryptonear
DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.
Ken. N
Coincu Ventures
