Near TVL continues to grow strongly, preparing to reach the milestone of $ 100 million

In the last week of 36/2021, the Near ecosystem has had quite a few events happening, promoting the overall development of the entire ecosystem: $ 32 million in total assets through Rainbow Bridge, TVL on the NEAR ecosystem reached $86 million, Ref Finance reached $62 million TVL…

Let’s review and analyze the events of the past week with us!

Overview of the NEAR ecosystem last week

Important updates

• Infrastructure applications on Near Protocol are quite complete: Aurora EVM, Rainbow Bridge, Flux Oracle, Chainlink and Band Protocol coordination (not yet implemented),… In the near future, I’m looking forward to the widespread operation of Aurora EVM to attract Dapps to Near.
• Currently, Aurora EVM has a number of partners like 1Inch, Dodo, DeFiner,… and in the past week e-Money. I hope these Dapps will deploy on Aurora soon.

• After the ETH-NEAR bridge, the BSC-NEAR bridge is being developed by the Near Foundation team. On the project Github, the development team noted that the bridge is ready for testnet. This is a very positive move for the ecosystem, because the BSC system is a place with huge cash flow, low transaction fees, so it is extremely easy for users.
• After the BSC-NEAR bridge, SOL-NEAR will be the team’s next choice to develop and welcome cash flow into the ecosystem.. If these bridges are completed soon, the cash flow into Near will be easier and more abundant, especially at a time when the SOL ecosystem is having extremely strong cash flow like now.

Impressive numbers of the NEAR . system

• Total assets on Rainbow Bridge have reached 32 million dollars – with almost half of the assets being OCT tokens of Octopus Network.
• The number of transactions in the past week reached 2.8 million transactions. This is the 7-day trading volume ATH of the platform.
• In the past week, the number stablecoins on Near has reached 9 million dollars – 3.5 million dollars more than 7 days ago, 6 million dollars more than 11 days ago. The cash flow into the Near ecosystem is very clear, but the total amount is still not too large.

New projects

There are no new projects in the last week. However, the ecosystem has many important updates:

• Ref Finance currently maintaining the Liquidity Mining package with 4x reward program. Ref Finance’s TVL hits $68 million!
• Metapool completed the x200 reward program this past week.
• Paras NFT Marketplace launches version 2.0, allowing anyone to create NFTs and trade on Marketplace.
• REF and SKYWARD have been listed on Coingecko.

The ecosystem also has some other notable events, which I will talk more about later in the article.

Analyze each piece

Stablecoins, Lending & Borrowing

The total amount of stablecoins on Near experienced a rapid spike in a few short weeks when Liquidity Mining on Ref Finance launched for the second time. A total of $8 million stablecoins are on Rainbow Bridge – a huge increase from the amount of stablecoins three weeks ago!

The amount of USDT on Near reached 5 million, the amount of DAI reached nearly 4 million USD – this is a number that proves the good growth of the NEAR platform. In the near future, I think the amount of stablecoins will continue to increase when the money really flows into the platform, when the bootstrap activities continue to happen strongly.

The current Lending & Borrowing and DeFi Stablecoin platforms are extremely weak. Ref Finance has promised in its roadmap that it will do Lending Protocol in 2022. This will make Near lack a very important piece, the money market. Currently, Near Ecosystem is in dire need of protocols that allow NEAR collateral to borrow stablecoins.

AMM DEX

Ref Finance

Ref Finance has reached 68 million TVL after the 2nd farming program took place. It can be said that Ref Finance not only brought TVL to them, but they kicked off an entire ecosystem. This number of 68 million is probably just the beginning, because the bootstrap programs behind will certainly be more attractive and interesting.

The marketing of the project is also much better than the first time. The project has listed Coingecko, and is working with the DefiLhama team to list its TVL on it. You can see that the team has been making more professional and professional steps than the initial period of operation.

In the near future, when the next projects are launched to promote activities on the ecosystem such as Paras, Pulse, … you will see that Ref Finance will continue to have more TVL and more liquidity.

Currently, I think there are a lot of next features that the team might be developing for release, like swap feature without deposit, smart routing feature, extra token farming feature,… to help increase the convenience of the application, helping the project to grow in the long term.

Staking

Metapool’s 200x farming program has ended. Have you farmed META on Metapool yet? Next time, you will still receive META when staking on Metapool, but will not receive as much as before. Perhaps this is a reasonable strategy of Metapool, to let users see that Metapool has a high level of security, thereby trusting to use the protocol.

The amount of NEAR staked is still at 3 million NEAR – 1% of the NEAR in circulation. This proves that the project has not yet attracted too many NEAR Holder deposits. Perhaps in the future, the project must create many use cases for stNEAR, from which new users have a great motivation to deposit NEAR into the platform.

IDO Platform

In the near future, the first project that will be launched on NearPad is Pulse – a prediction market on Near. This is IDO The first is in the traditional IDO form on Near, but this is a project running on the Ethereum platform, so the investment is quite expensive, you should consider when participating in IDO.

PARAS token of Paras NFT Market will also be available for sale on Skyward Finance. With a well-used product, smooth 2.0 version and many new features, how much do you think Paras can raise? Are you participating in this public sale?

Opportunity to invest, make money from the Near . ecosystem

In the current Near ecosystem, there are many testnets with projects to have the opportunity to receive retroactive for you to make money, and I will list a few ways below for your reference.

In the Near ecosystem, there are many projects that have released products and are likely to issue tokens, which you should use to test the product, and there may be an airdrop in the future:

• Paras – an NFT Marketplace has announced that it will release tokens from May, but there is no more specific information yet. You can buy and sell NFTs, create NFTs on this Market.
• Mintbase – another NFT Marketplace has yet to announce a token release. You can test it first because the product is already mainnet.
• Ref Finance – This AMM DEX had an airdrop. There is still 2% of the total REF supply for the airdrop, you can test the new features of the DEX to wait for the airdrop from the project.
• This Pulse – Prediction market has announced that it will launch tokens on NearPad, and it’s entirely possible that the project will be retroactive for those who have supported the project since day one.

summary

In a nutshell, over the past week, the highlights of Near Protocol include:

• Ref Finance boomed, TVL reached $68 million.
• Platform-wide TVL reached $86 million.
• Platform trading volume and NEAR both hit ATH in the past week!

Which update are you most impressed with this week? Please comment below to let me know!

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