Thread by @HiimAlen

1/#Near ecosystem is expanding really fast. It’s useful to analyze Near with a famous framework.

Analyze the application layer of the Near ecosystem by @jump_’s framework.

A thread 🧵👇

2/ In this thread, I will cover:

📍Framework I use to find demand for protocols
📍Which sector am I gonna mention?
📍Analyze #Near & #Aurora ecosystem by sectors

Let’s dive in!

3/ 📍Framework I use to find demand for protocols
Recently, @rahulmaganti_ from @jump_ released an article about how to evaluate L1.

jumpcrypto.com/a-framework-fo…

4/ My fav part is where they “provide a more in-depth analysis on how to better approach evaluating an L1 from their ecosystems and or set of projects building on the chain.”

In this article, I will use this framework to assess & suggest the application layer on Near.

5/📍Which sector I’m gonna mention?
I will use the framework above with one added sector.

👉TVL Drivers
👉Interoperability
👉Data Availability
👉Developer Tooling (in another thread)
👉I add one sector: User Interacting Interface (query data, portfolio management, data analysis)

6/📍Analyze #Near & #Aurora ecosystem by sectors

👉TVL Drivers: the ecosystem is prepared with some basic DeFi projects: DEXes (@finance_ref, @trisolarislabs), lending/borrowing (@aurigami_PLY, @BastionProtocol, @burrowcash) & staking (@meta_pool)already done.

7/ However, in the TVL Drivers sector, I wanna add some protocols that should be necessary for the Near ecosystem in the current condition.

Curve-style DEX for stableswap: @BastionProtocol and @trisolarislabs are developing this. Hope to see their products on mainnet soon.

8/ Leveraged Farming on Near: As the basic DeFi stack on Near is fulfilled, now we can go to the higher DeFi layer.

Leveraged Farming helps farmers farm with a limited budget to optimize the money inside the ecosystem. I expect to see some first mainnets in this sector soon.

9/ 👉Data Avalibility:

Explorers: Main Near Explorer is not user-friendly (but developer-friendly). @nearblocks is building a user-friendly one.

On Aurora, we already have Aurorascan.dev, thus this sector has no problems.

10/ Oracles: We have @fluxprotocol as the main oracle for many prjs, which is securing $800M TVL in many Dapps.

https://twitter.com/fluxprotocol/status/1508532275851538444

11/ However, as I’m a huge believer of @chainlink, I suppose that all oracles can be manipulated except for @chainlink. Many oracles hacks just make me be more careful about choosing oracles, as many small oracles messed up and cause many lost for Dapps.

hackernoon.com/how-dollar100m…

12/ Storage: I don’t have much knowledge in this sector, so not gonna write deep about this.

I saw @ceramicnetwork working with Near to provide data solutions, which means Near Foundation is finding/working on solutions for data on Near. Will learn and write more abt this later

13/ Indexer: Really want to see @graphprotocol integrate with the Near ecosystem to make blockchain data easily accessible on Near.

Learning SQL, gonna learn GraphQL soon.

14/ 👉User Interacting Interface

Query data: Two biggest data query applications @DuneAnalytics, @flipsidecrypto in the market are not supporting the Near ecosystem atm. As I’m really in love with sexy visualized data dashboards, hope that they will support Near eco soon.

15/ Portfolio management: @DeBankDeFi already supports Aurora ecosystem. I want to see @zapper_fi , @zerion_io supporting Aurora, and even support the Near ecosystem in the future.

P/s: @Rabby_io by @DeBankDeFi is the only way I know on Aurora to revoke approval.

16/ Data analysis: Whales and big VCs are paying attention to Near and Aurora ecosystem, thus there is demand for tracking alpha play & alpha wallets by on-chain analysis.

17/ For e.g., Alameda Research has been farming $TRI for a long time, and dumped $1.75M $TRI yesterday when Trisolaris announced their backers at $0.8.

As I’m using Nansen and taking huge advantage of it, hope that Nansen will support Near eco soon.

18/ 👉 Interoperability:

Bridges: There are already lots of bridges: Allbridge, Rainbow Bridge, Synapse, cBridge,… Lots of bridges allow the ability to move money from other ecosystems to Near.

https://twitter.com/Nearians_/status/1481843934909595648

19/ However, there are no CEX bridges to Near atm & this has to be improved soon.

20/ Routing & Cross-chain calls: Routing and Cross-chain calls are available from Aurora to Near. However, liquidity from Near can’t be called by Aurora Dapps.

21/ I don’t have thorough insights in Routing & Cross-chain call sectors, as my knowledge is limited atm and no Dapps is solving this on Near now. Will write about this later as I learn more.

👉Developer Tooling: I will write another thread about this.

22/ That’s my analysis of the application layer of the Near ecosystem by @jump_’s framework. Hope that this thread would help you to become a better investor in Near eco.

Follow me @HiimAlen for more threads on crypto, investment, and finance.

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