General overview of the NEAR ecosystem
Over the past 6 months, the Gonear team has been breathing NEAR, talking to great builders, the NEAR team and other ecosystem players. With scalable, high transaction throughput, rapid YoY developer increase, and several major upcoming catalysts: NEAR protocol is headed for all time highs.
Near protocol is a development platform built on a sharded, proof-of-stake, layer-one blockchain designed for usability. It consists of a permissionless base layer, an independent native currency, a predetermined monetary policy, and a marketplace of computing resources. Near is the result of a huge, open source, decentralized collaboration effort by a team of 90+ world class developers and researchers with backgrounds from tech giants such as Google, Meta, Microsoft, and MemSQL.
Favoring pragmatism over perfection, Near’s underlying value proposition is that simplicity will ultimately drive adoption. Therefore, its measure of success is determined by the protocol’s ease of use and the ability for developers to build on Near as people who have never owned cryptocurrency before. Near is a developer-centric, layer-one blockchain platform that prioritizes both the developer and end user experience, which is why it will succeed in the long term.
$USN as a key catalyst, amongst other factors
Near has several catalysts that makes it a fundamentally attractive investment. At the end of January, they closed another $350 million round of funding led by Tiger Global, which only adds to the stellar list of venture capital behemoths supporting the Near ecosystem. According to Messari, Near is the 3rd most commonly held asset by crypto funds as of Q3 2021.
Moreover, Near will be listed on Coinbase’s exchange in the next couple of months, which will help drive retail visibility like never before. This also paves the way for Near NFTs to be integrated into Coinbase’s upcoming NFT marketplace.
Lastly, on April 20th, Near will announce the launch of their own native algorithmic stablecoin $USN in partnership with other well capitalized stablecoins. They will offer an extremely attractive ~20% APR, which will ignite DeFi capital rotation into the Near ecosystem, siphoning the total value locked from other alternative layer-one protocols.
This will lead to a comparison of Near to Terra ($LUNA) as the narrative for attractive stablecoin yields proliferates. Terra currently has a market capitalization of approximately $40 billion while Near sits at $10 billion. The catalysts above will strengthen Near’s fundamentals in both the short and long term and likely cause its market capitalization to appreciate by 100% at minimum over the next few months.
With Gonear, decentralized projects can raise awareness, build a loyal community, and receive long-term support. Users of the platform will be able to participate in a secure and compliant environment, and use assets both in and beyond the Near Protocol standard.