REF’s FDV reaches $80 million

Last week was quite a week of updates and new news on the NEAR Protocol ecosystem, such as $REF reaching $80 million in FDV, Rainbow Bridge asset standing firmly at the $2 million milestone, Ref Finance launching farming functionality. ..

Let’s go through and analyze and evaluate the events of week 30 of NEAR Protocol.

Overview of the NEAR ecosystem week 30/2021

Important updates

• Because the infrastructure applications on Near Protocol are almost complete with Aurora EVM, Rainbow Bridge,… The next big update that the whole ecosystem is looking forward to is the launch of the mainnet appchain of Octopus Network and September, October this year.
• BSC-NEAR bridge is already under development, SOL-NEAR bridge is being planned due to lack of developer. If completed early, this will be a good premise for money to flow into Near’s ecosystem.

Impressive numbers of the NEAR . system

• $2 million in assets deposited to Near via Rainbow Bridge!

• In the past week, the volume of transactions during the week continued to increase with nearly 1,800,000 transactions during the week. The total number of transactions on Near Protocol has reached the milestone of 17 million. This is the highest weekly transaction volume in the Near ecosystem ever.
• Over the past week, stablecoins on Near hit the $1,380,000 mark and have not changed significantly since. This is a good sign for the ecosystem.

New projects

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

• Ref Finance has completed the $REF token sale on Skyward Finance. More than $2.6 million has been deposited into Skyward to buy $REF, and now $REF’s FDV is at $80 million.
• $SKYWARD token has been opened for the second sale. SKYWARD token is being sold at 1 SKYWARD = 5 NEAR, 6 NEAR lower than the previous token sale.
• Pulse made its first acquisition of Stake GG.

NEAR Ecosystem There are also 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 in the past week has had a sudden increase in a short time: more than 700,000 DAI have been deposited to Near, to participate in buying REF on Skyward Finance. Currently, the total amount of stablecoins on the platform stands at $1,380,000.

Nearly 1 million DAI is on Near via Rainbow Bridge, and the total value of assets on Ethereum on this Bridge is nearing $2 million.

It can be said that the recent REF token sale event was a very strong bootstrap for the ecosystem, starting to attract cash flow into the system. This is the puzzle that unlocks the cash flow into the Near ecosystem. From here, there will certainly be the launch of a series of projects in the Near ecosystem. One of the names that can be mentioned to bootstrap the Near ecosystem through the launch of tokens in the near future: Metapool, Paras, Aurora, Octopus,…

The current Lending & Borrowing and DeFi Stablecoin platforms are extremely weak. In the near future, for the ecosystem to be bootstrapped, you will certainly see a lending protocol appear. Do you think, Ref Finance Will jump into this Lending array in the near future? Give me your opinion!

AMM DEX

Ref Finance’s FDV is currently at $80 million. Over the past week, Ref Finance has launched farming with the first pair being the REF-wNEAR pair. 10,000 NEAR will be used as a reward to distribute in the first week.

This is the necessary tool to bootstrap the ecosystem. What other tokens do you think will be brought up to farm on Ref Finance in the near future?

In the coming time, Ref Finance needs to focus on marketing. For Ref Finance to be known more, the project’s communication must be promoted: list of Coingecko, Coinmarketcap, list of CEX exchanges,… Because Ref Finance’s position is the first DeFi protocol AMM DEX on Near, so This token launch is not only meant to bootstrap the development for Ref Finance, but also the key to the development of the entire ecosystem.

In addition, during the recent token sale, I also noticed a lot of Twitter accounts that support the ecosystem, such as: Nearians, Near Mates, Near Vietnam,… It is not clear if this is Near’s strategy for marketing, but it is clear that the emergence of these social media accounts supports the Near ecosystem very well. You can also follow to update the fastest ecosystem.

Prediction

Over the past week, Prediction Market on Near has had a merger of two projects in the same segment: Pulse has acquired Stake GG, to leverage the project’s growth in creating prediction markets for eSports and sports. sports.

Both projects use the oracle of Flux Protocol – a protocol that was invested $10 million in the second quarter of 2021 by many funds, including Coinbase Ventures. This is also a project that has not yet issued a token, has a high ability to launch tokens, has a product to try and my personal perception is that the product works quite well. You should try it out to receive the project’s airdrop opportunity.

summary

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

• REF token sale completed: REF’s FDV is now $80 million!
• Rainbow Bridge’s custodial wallet contained $2 million in assets, including nearly $1 million in DAI.
• Pulse “absorbs” Stake GG – a prediction market for eSports and traditional sports.

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

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Disclaimer: All information in this article is for informational purposes only and should NOT be considered investment advice. Investing in cryptocurrencies involves extremely high risk and you should only invest the amount that you are willing to lose.