Near Ecosystem deep dive & opportunities
Near Ecosystem deep dive & opportunities
The dawn of a promising ecosystem
1/ #Near Ecosystem deep dive & Opportunities
Near Ecosystem has been skyrocketing after the $800M incentives launch and the $150M fundraising round from top-tier VCs.
What is this ecosystem's current development stage, and how can we profit in this growing eco?
A thread 🧵 👇
2/ Fundraising History and Incentive Packages
👉 $35M from a16z, Libertus, Pantera, Electric,...
👉 Q1 2022: $150M from 3AC, Mechanism Capital, Dragonfly Capital, a16z, Jump, Alameda,...
👉 $800M package for the Near ecosystem development => one of the biggest incentive packages.
3/ Upcoming developments
Near Protocol is going to achieve general sharding in Q4 2022, full sharding in Q2 2023. Then:
👉 The TPS will increase 5 - 8 times (100k TPS at 1M nodes)
👉 1s finality.
👉 The network will be more secure, significantly increasing its throughput and finality.
4/ The ecosystem 🌍
Near ecosystem is growing fast as the quantity and quality of projects skyrockets. With the $800 M incentive package, Near ecosystem is providing $50k - $2M grants to projects of all sectors: NFT, DeFi, Gaming, Metaverse, DAO, Infrastructure,...
5/ By incentivizing builders with grants, Near Foundation supports projects financially and verifies builders to prevent rug-pulls & protect Near citizens.
Builders in Near have a variety of choices: build in Rust/ WASM on Near, Solidity on Aurora EVM, or on Octopus.
6/ Infrastructures in the Near ecosystem are sufficient for the hyper-growth in the future: oracles, bridges, data solutions, explorers, wallets, and L2 solutions are all ready to onboard users and devs.
7/ The AMM DEX sector in Near eco already has main players. Trisolaris is the leading DEX on Aurora, while Ref Finance is leading on Near.
They seem to have no significant competitors at the moment, and farming opportunities for users on those DEXs are significant and stable.
8/ Lending is the most exciting sector on Near atm. The war between 3 lending protocols is happening: @aurigami_PLY, @BastionProtocol, and @burrowcash.
Each project has its own edges, all of them are doing great, thus it’s nearly impossible to predict who would be the winner.
9/ @aurigami_PLY has huge backers: Dragonfly, Polychain, Mechanism, Amber, Jump, Coinbase, Alameda, and they are the leading money market in terms of TVL ($439M TVL, with $260M from borrowing).
$PLY Pre-mining is happening now, and the APR is great for farmers.
10/ @BastionProtocol has innovative builders: their product is the fork of Compound and Rari Pool (called Realm), they would launch $BSTN by doing lockdrop (h/t @Delphi_Digital).
They are degens in the market, they also have big VCs behind to support.
11/ @burrowcash is the leading money market on Near. Their mainnet is not ready, but they did announce their Mr.BRRR NFT collection, which could be redeemed to $BRRR token in the future.
Built by @proximityfi, they’re gonna be the king of the money market sector on Near.
12/ Other lending protocols are @FinanceOin, @AriesProtocol, @NexonFi, @AuroraSwap, @NEARLend, @globalcrossfi. Although I focus on the top three, I also pay attention to other lending protocols, as the gems can appear anywhere within this ecosystem.
13/ The NFT sector is another exciting one on Near. @ParasHQ is the leading NFT Market. In the last 2 months, since the surge of @ASAC_NFT, NFT collectibles on Near started to grow.
However,the NFT collectibles sector on Near is saturated atm, as newcomers are not improving in quality.
14/ Launchpad is also a sector that is worth noticing. @NearPad, @Goneario, @wannaswapamm, @SmartPad_launch, @bocachica_io, and @skywardfinance are notable projects in this category.
15/ @MetaNEARton is the hottest project in the gaming category atm. Other games showing exciting trailers include: @BATTLEM0N, @exverse_io, @metamonapp.
However, none of them published their mainnet gameplay, and all are under the development phase.
16/ Some predictions about the Near ecosystem in 2022:
👉 Keep granting projects to bootstrap the ecosystem
👉 The Lending war would attract more TVL and Dapps built on those lending projects (yield aggregators, leverage yield farming, derivatives,...)
17/ 👉 The Gaming category on Near will develop fast and deliver high-quality games
👉 Coinbase will list $NEAR
👉 @BastionProtocol is a sign that a wave of innovative, long-term builders is coming to Near Town. This is what we need to sustainably grow the ecosystem.
18/ How to invest/ get profit?
👉 Hold & stake $NEAR: holding & staking a bag of $NEAR is the easiest way. You can stake on Metapool to increase liquidity.
👉 Participate in farming on lending protocols/ DEXs on Near: high APR for farmers.
👉 Retroactive: Use EVERY protocol and be a degen.
19/ Especially, you can take advantage of the lending war on Near Protocol:
👉 Farming on Aurigami & Bastion & Burrow (coming soon) / Participate in Bastion Lockdrop (no cost)
👉 Be a contributor (getting the 3-PLY role on Aurigami Discord/ writing about Lockdrop for Bastion NFT)
👉 Mint Burrow NFT
20/ That’s all about the Near ecosystem. Some additional resources that can support you to get profit include:
The Near Ecosystem Spreadsheet: Near Ecosystem Tracking Sheet
21/ The Near Ecosystem deep dive article: https://coin98.net/near-ecosystem