This Week in Near Ecosystem W31/2021

Overview Of The NEAR Ecosystem’s Weekly Update W30

Important Updates

  • Since Near Protocol is already quite complete in terms of infrastructure applications, with such apps as Aurora EVM and Rainbow Bridge, the next big update that the whole ecosystem is looking forward to is the launch of Octopus Network’s mainnet appchain in September or October this year.
  • After the ETH-NEAR bridge, the BSC-NEAR bridge is being developed. After the BSC-NEAR bridge, SOL-NEAR will be the next choice of the ecosystem development team. If the bridges are completed soon, this will be a good premise for money to flow into the Near Ecosystem.

NEAR’s Impressive Performance Numbers

  • $2.1 million in assets were deposited to Near via Rainbow Bridge. Compared to the previous week, there is a slight increase of $20,000 in asset value.
  • In the past week, the volume of weekly transactions continued to increase by 1,300,000 transactions. The total number of transactions on Near Protocol is about to hit the milestone of 20 million transactions. This is the next breakthrough for the platform after it reached 10 million transactions at the end of June.
  • Over the past week, the number of stablecoins on Near has returned to $1.3 million. In comparison with the last week, we can see a slight decrease of $70,000.

New Projects

We did not see any new projects in the past week. However, there are many important updates of the ecosystem:

  • Ref Finance has airdropped REF tokens to users who have been supporting the project. A total of 1 million $REF has been distributed.
  • Ref Finance has laid out their project’s roadmap for the near future, which has many attractive plans.
  • Coin98 Wallet will integrate with dApps on Near Protocol, starting with Ref Finance.
  • Skyward Finance has completed the second SKYWARD token sale.

Dissecting The News

Stablecoin, Lending & Borrowing

The total amount of stablecoins on Near, after a sudden increase to $1.4 million, has returned to $1.3 million. In which, nearly $900 thousand is DAI. The rest are other stablecoins, including USDT, USDC, and TUSD. The total value of assets on Ethereum on this Bridge is at nearly $2 million.

AMM DEX

Ref Finance’s FDV is currently over $100 million. Over the past week, Ref Finance launched their airdrop for early users, consisting of 1 million REF tokens. If calculated with an FDV of $100 million, the airdrop for a wallet that both trades and provides qualified liquidity is worth nearly $600. REF airdrop will remain locked for 3 months. The team will start vesting 1 month after that.

  • It is very difficult to split airdrop by volume due to the fact Near currently has no data indexing tool.
  • If they split the airdrop with fewer swaps, people who spam wallets will receive a disproportionate amount of tokens. This is not good for the future of the project, so the project decided to set 7 swaps as a requirement.

IDO Platform

Another big news from last week is that Skyward Finance has completed its second token sale. In total, 461 participants have purchased their tokens. This sale average rate was 5.07 NEAR per Skyward. 2 million NEAR, worth $5.5 million, have been deposited into the project’s treasury.

In Summary

Over the past week, there are the following significant events regarding the NEAR Protocol:

  • Ref Finance airdropped free tokens to early users’ wallets.
  • NEAR Protocol and Ref Finance cooperated with Coin 98 Wallet.
  • Skyward Finance completed the second public sale of its token.

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