Currently, the Near ecosystem is the most noticed ecosystem, with huge potential for development in the future. To help readers have an overview of this potential ecosystem and help you find investment opportunities, I am sending you an overview article about the Near ecosystem.
NEAR Protocol is an Ethereum competitor and decentralized application (dApp) platform aimed at developer and user-friendliness. Near is the protocol’s native token, which is used to pay transaction fees and hold funds on the near cryptocurrency platform. NEAR is a Proof-of-Stake blockchain that achieves scalability with the use of sharding technology.
You can update the price of NEAR Token on Coincu.com right at: CLICK HERE
Backers/Investors: Three Arrows Capital, Jump Capital, Alameda Research, Zee Prime, Amber Group, Dragonfly Capital, Coinbase Ventures, a16z, Multicoin Capital, Pantera, Arrington XRP Capital, IOSG Venture, Libertus Capital,…
Near ecosystem currently has more than 108 projects under construction on which the main areas include: Stablecoins, AMM DEX, Lending, IDO Platform, NFT Market, Gaming, and many other contents. In this article, I only focus on the main puzzle pieces such as Stablecoin, AMM, Lending, Oracle, NFT, IDO Platform, and Gaming.
Stablecoin projects that have been brought to Near include USDT, USDC, DAI, and TUSD. Until April 2022, the total supply of Stablecoins on NEAR reached $967 million, mainly USDT and USDC. Most of these stablecoins are on Aurora ($800 million) and not on Near.
Most recently Near launched its first native stablecoin – USN, backed by $NEAR and $USDT. The NEAR used to generate the USN will be transferred to the Reserved Fund, which is automatically balanced to maintain the ratio always greater than 100%. USN will have an annual return of 10% paid from the Decentral bank.
When we have stablecoins and want to buy tokens, we will go to DEXs or CEXs to buy them. And the same goes for selling. Therefore, DEX is an indispensable area of a Defi ecosystem. DEX is the source of liquidity for all trading activities on the ecosystem
Currently, AMM DEX on Near has main projects that are Ref Finance and Jumbo Finance with a total TVL of $237 million. On Aurora, there are more Dex like Trisolaris, WannaSwap, Rose, AuroraSwap, and Amaterasu Finance,… But TVL is only about $286 million at the moment
It seems that the DEX stack on Near is not as active as it was at the beginning of 2022.
This is the most important piece of an ecosystem. Once users have their tokens, they won’t just want to hold them. Instead, they will find ways to generate additional income from their existing assets and that is why Lending&Borrowing was born.
Currently, on Near, there are only two lending projects that are Burrow and Oin Finance with a current TVL amount of $120 million.
Lending & borrowing on Aurora grows stronger, with projects like Aurigami and Bastion with more than $1 billion in April (accounting for 76% of the total TVL of the Aurora system).
Aurigami and Bastion both have very attractive early incentive programs. Because of that, both projects have attracted a huge source of liquidity right from the start.
The Oracle array, in particular, has made little headway in the NEAR Protocol.
Despite the fact that Band Protocol and Chainlink have long promised to collaborate with NEAR Protocol, no testnet or mainnet product has been published.
Flux Protocol is a NEAR oracle that serves the Flux prediction market, although it’s unclear whether Flux Protocol will also function as an Oracle for other projects such as Band Protocol and Chainlink.
Below are the current ROI and ATH ROI of IDO projects on Near. we can see that the ROI of projects on Smartpad and Bocachica as well as Nearpad has a pretty impressive ATH ROI, while IDO on Skyward Finance delivers a relatively modest ROI.
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This is the category on NEAR with the most projects, with two prominent names being Paras and Mintbase.
By the end of 2021, Near’s Gaming segment also has many outstanding projects such as Metamon, Has Rush, Op game,…
Near’s main areas are nearly finished. The debut of Aurigami, Burrow, and Bastion signals a significant expansion of the Near ecosystem and serves as the foundation for the development of other applications such as Yield farming, Aggregator, Derivatives, and so on.
Infrastructure initiatives are succeeding admirably. The Rainbow Bridge is also finished. The Octopus network, a Web3 infrastructure initiative for dapp development, has also seen a lot of activity. The environment in the Near is nearly complete.
As a result, we can expect future advances in the Near protocol to stimulate huge cash flows into the ecosystem.
In comparison to other ecosystems like Avalanche, Fantom, and Solana, the Near ecosystem’s dApp development is quite modest. Even if the essential components are present, they are nonetheless insignificant in comparison to other ecosystems. But this is just the time to pay attention to Near. Because the Near environment is on the verge of receiving a massive influx of cash. There will be numerous opportunities for “skin in the game.” We can’t afford to miss out.
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
If you have any questions, comments, suggestions, or ideas about the project, please email ventures@coincu.com.
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
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