Thread by @tkdotventures

#NEAR ECOSYSTEM - THE UPCOMING GIANT⁉️

Following the Layer 1 season like other #blockchain, $NEAR also gained extensive attention from various #DEFI users and investors. What element drives the growth of Near?

Let's follow the footprint of @NEARProtocol in the thread below👇

@NEARProtocol 1/ During the bull run, $NEAR joined the party that witnessed the 6x upside while reaching the new ATH. In the meantime, the various on-chain signals recorded peak, and a few major native #dapps decided to launch their tokens like first AMM DEX $REF or NFT marketplace @ParasHQ

@NEARProtocol @ParasHQ 2/ Social media has complemented ETH 2.0 & its sharding technology vision for a long time, but it takes years to apply. However, #NEAR step-up and takes the sharded nature as its core to solve blockchain trilemma, might even further advance than ETH2.0

@NEARProtocol @ParasHQ 3/ Not only the on-chain signals increased in the bull, but these figures started to increase in late June. The txn count & new addresses increased sharply following the increase in bridge's capital locked which suggested that ecosystem received generous attention than ever

@NEARProtocol @ParasHQ 4/ Key driver in the rise of txn has come from the protocol called @NEARCrowd that acts as the airdropping protocol by completing tasks to receive some $NEAR (~60% of #NEAR's txn). Doing simple stuff is a great way to get used to the #blockchain concept

https://twitter.com/ilblackdragon/status/1392384184639913984

@NEARProtocol @ParasHQ @NEARCrowd 5/ Comparing with other ecosystems, @NEARProtocol chose other approaches that reasoned why there aren't many #dapps. In particular, two crucial elements as AMM DEX & Lending/Borrowing didn't receive attention while infrastructure layer has extensively developed throughout year

@NEARProtocol @ParasHQ @NEARCrowd 6/ Otherwise, difference in a coding language & unique architecture forced #NEAR to build its infrastructure layer. The concentration in the foundation of the network promised to bring the long-term effect as these customized apps are compatible better than other deploying apps

@NEARProtocol @ParasHQ @NEARCrowd 7/ The first vital dapp & #DEX, @finance_ref launched its token, in the meantime, they provide the generous liquidity incentive which gathered $74M capital locked after a month. Same for @meta_pool, liquid staking protocol similar to #Lido, provides 1500x multiplier incentive

@NEARProtocol @ParasHQ @NEARCrowd @finance_ref @meta_pool 8/ Therefore, #TVL of #Near ecosystem has recently appeared & peaked at $91.6M since #dapp in Near didn't develop intensively. In early August, TVL of Near just appeared that contributed by @finance_ref, AMM DEX & @meta_pool, staking protocol while $REF contributed 77% of total

@NEARProtocol @ParasHQ @NEARCrowd @finance_ref @meta_pool 9/ Putting in the table with other protocols, Near has plenty of space to develop, particularly Dapp, to attract massive capital flow in future. Furthermore, Near is in-progress to fulfil firm infra layer that eventually became prime criteria to confront the future battle-tested

@NEARProtocol @ParasHQ @NEARCrowd @finance_ref @meta_pool 10/ The most active development in #Near is the infrastructure layer, they allocated the intensive capital in oracle & have built the solid foundation as well:

Bridge: #Rainbow
EVM Compatibility: #Aurora
Appchains: @oct_network
Oracle: @fluxprotocol

@NEARProtocol @ParasHQ @NEARCrowd @finance_ref @meta_pool @oct_network @fluxprotocol 11/ The first element, bridge. #Rainbow bridge acted as the vital portal to migrate capital from #Ethereum to #Near wonderland. The UX-UI has been concentrated & developed by the notable CTO of @1inch which went through numerous battle-tested in year

https://twitter.com/NEAR_daily/status/1438687828846669826

@NEARProtocol @ParasHQ @NEARCrowd @finance_ref @meta_pool @oct_network @fluxprotocol @1inch 12/ Back to the successful launch of #Aurora EVM in mid-May, $NEAR reacted to the news by 50% upside that indicated the gigantic role of the EVM Compatability product in #NEAR. Like other chains, under the EVM-compatible implementation, it drive various forked #dapps in protocol

@NEARProtocol @ParasHQ @NEARCrowd @finance_ref @meta_pool @oct_network @fluxprotocol @1inch 13/ Despite the forked version, it will help the ecosystem to equip some #DEFI applications to drive the capital flow while keeping them in the ecosystem. The EVM compatibility has been utilized & achieved success in various chains. However, this case didn't perform same as prior

@NEARProtocol @ParasHQ @NEARCrowd @finance_ref @meta_pool @oct_network @fluxprotocol @1inch 14/ Despite announcing extensive partnership, not all of them've finalized or announced to deploy application in mainnet yet. It might reason as #NEAR coding language engaged some difficulty to approach. Arrays of projects won the #Near hackathon, but not many continued its work

@NEARProtocol @ParasHQ @NEARCrowd @finance_ref @meta_pool @oct_network @fluxprotocol @1inch 15/ Since #Near conducted other virtual machines, they also developed their first very #oracle solution that is @fluxprotocol. They have raised vast investments from notable investors that promisingly provide the most advanced data solution in NEAR.

@NEARProtocol @ParasHQ @NEARCrowd @finance_ref @meta_pool @oct_network @fluxprotocol @1inch 16/ As mentioned, $LINK & $BAND announced the partnership but until then, they have not been deployed yet. Therefore, the introduction of @fluxprotocol will lower the dependence level of #Near to other cross-chain oracle solutions.

@NEARProtocol @ParasHQ @NEARCrowd @finance_ref @meta_pool @oct_network @fluxprotocol @1inch 17/ The last element enables limitless scalability leveraging the sharding tech, appchain @oct_network that became main topic in near. $OCT, the fusion version, utilize the substrate technology while ensuring even higher level of security for the appchain

https://twitter.com/NEAR_daily/status/1423305294243766272

@NEARProtocol @ParasHQ @NEARCrowd @finance_ref @meta_pool @oct_network @fluxprotocol @1inch 18/ As referred to in the ecosystem, the DEX sector still lagged compared to other ecosystems, lack of new projects while even some won Hackathon didn't continue. Although $REF, the first DEX, launched mainnet in mid-May, it didn't receive much attention until the recent IDO.

@NEARProtocol @ParasHQ @NEARCrowd @finance_ref @meta_pool @oct_network @fluxprotocol @1inch 19/ Launchpad was by far the most active project in application layer, there is three type of launchpad:
@skywardfinance a streaming time-based auctions
@NearPad traditional IDO
@FinanceHeo Defi crowdfunding

Skyward was the launchpad that launch first IDO in NEAR, $OCT

@NEARProtocol @ParasHQ @NEARCrowd @finance_ref @meta_pool @oct_network @fluxprotocol @1inch @skywardfinance @NearPad @FinanceHeo 20/ October will promise to be the exciting month for #NEAR ecosystem. After various testing, @NearPad announce the plan to the onboard first project. Note: First IDO usually received relatively good ROI (NFA)

Check out the IDO schedule plan below.

https://twitter.com/NEAR_daily/status/1438895523931426819

@NEARProtocol @ParasHQ @NEARCrowd @finance_ref @meta_pool @oct_network @fluxprotocol @1inch @skywardfinance @NearPad @FinanceHeo 21/ To assess the growth, stablecoin growth is one of the fine indexes. #Near witnessed 5x multiplier increase from early August, same period of the explosive growth of @finance_ref, however, the amount was still small compared to others, long way to go

https://twitter.com/NEAR_daily/status/1435624901327548420

@NEARProtocol @ParasHQ @NEARCrowd @finance_ref @meta_pool @oct_network @fluxprotocol @1inch @skywardfinance @NearPad @FinanceHeo 22/ Subsequently, other reason explained why stablecoin in Near are still low because the crucial lending/borrowing sector didn't have appearances of any protocols. Although #OIN announced to migrate to #Near in May, until October, they finally announces the plan to be live

@NEARProtocol @ParasHQ @NEARCrowd @finance_ref @meta_pool @oct_network @fluxprotocol @1inch @skywardfinance @NearPad @FinanceHeo 23/ Noted that #OIN Finance was just the altcoin collateralized platform while the collateral asset was limited and they haven't included $NEAR yet. In the past few months, following lack of money market, #Near community has continuously raised their vote toward the demand for it

@NEARProtocol @ParasHQ @NEARCrowd @finance_ref @meta_pool @oct_network @fluxprotocol @1inch @skywardfinance @NearPad @FinanceHeo 24/ Generally, @meta_pool & @FinanceOin have collaborated to launch temporary hybrid money market. The UX won't optimize due to complicated processes & fund will transfer among platforms, but it'll be better than nothing

https://twitter.com/NEAR_daily/status/1437850853839228930

@NEARProtocol @ParasHQ @NEARCrowd @finance_ref @meta_pool @oct_network @fluxprotocol @1inch @skywardfinance @NearPad @FinanceHeo @FinanceOin 25/ There's plenty of space for breakthrough projects to develop, both 2 crucial sectors, DEX & Money Market. As usual, users demand protocols to optimize assets by collateralizing for minted stablecoin& yield farming. $REF aims to be DEFI Hub that launches money market in future

@NEARProtocol @ParasHQ @NEARCrowd @finance_ref @meta_pool @oct_network @fluxprotocol @1inch @skywardfinance @NearPad @FinanceHeo @FinanceOin 26/ @NEARProtocol was utterly one of the most active ecosystems in #NFT sector toward others, sector has developed since early June. NEAR actively collaborate with famous artists to bootstrap the growth of #NFT & assure the most benefit for artists

https://twitter.com/NEAR_daily/status/1425264128038342659

@NEARProtocol @ParasHQ @NEARCrowd @finance_ref @meta_pool @oct_network @fluxprotocol @1inch @skywardfinance @NearPad @FinanceHeo @FinanceOin 27/ Following the #GAMEFI season, @NEARProtocol possesses arrays of the outstanding project like @PlayHashRush - an online sci-fi P2E game, quite rare in the #crypto space

https://twitter.com/NEAR_daily/status/1410282107541274627

@NEARProtocol @ParasHQ @NEARCrowd @finance_ref @meta_pool @oct_network @fluxprotocol @1inch @skywardfinance @NearPad @FinanceHeo @FinanceOin @PlayHashRush 28/ Potential: @NEARProtocol shall be considered one of the most active ecosystem related to community-oriented. Numerous hackathons, developer grants & even dev education has launched in multi-developing countries throughout the year. Recently, Near runs Metabuidl worth $1M

@NEARProtocol @ParasHQ @NEARCrowd @finance_ref @meta_pool @oct_network @fluxprotocol @1inch @skywardfinance @NearPad @FinanceHeo @FinanceOin @PlayHashRush 29/ Highly appreciate the move of how @NEARProtocol brings crypto to the global & spread their brand name. Near also did a great job to build community through the various activity as quizzes, Guild. The highly active in these activities will be the catalyst for monumental growth

@NEARProtocol @ParasHQ @NEARCrowd @finance_ref @meta_pool @oct_network @fluxprotocol @1inch @skywardfinance @NearPad @FinanceHeo @FinanceOin @PlayHashRush 30/ Finalword: Near ecosystem has gradually completed its vital foundation in the past year, at least for the stable infrastructure. What's next for NEAR?

@NEARProtocol @ParasHQ @NEARCrowd @finance_ref @meta_pool @oct_network @fluxprotocol @1inch @skywardfinance @NearPad @FinanceHeo @FinanceOin @PlayHashRush 31/ Time to build #dapps, particularly #DEX, money market for the fully functioning ecosystem. When all elements are ready, $NEAR will be definitely an ideal destination of #defi enthusiasts !