Near.com Hits $70M Confidential TVL Milestone
Near.com has reached a significant milestone in confidential DeFi, surpassing $70 million in Total Value Locked (TVL). This achievement triggers the snapshot for 'Drop 1' in the NEAR Incentive Milestone Program.
The confidential TVL represents a new era of private DeFi, providing protocols, institutions, and users with a proven privacy layer for cross-chain transactions. This growth is driven by near.com's innovative approach to confidentiality, which routes transactions through a NEAR private shard.
The $70 million mark also sets off the first 333,333 token reward in the incentive program, available to claim on near.com. Eligible participants must maintain a confidential balance above $100 and an active swap history. The rewards are locked until NEAR's three-day VWAP reaches $3.33 or higher.
Alex Shevchenko, GM of NEAR Intents, stated that 'Confidentiality is quickly becoming a core requirement for the industry, and NEAR is becoming the rail to make it the new default.'