NEAR Protocol Hits $70M TVL, Sparks Airdrop and Price Surge

NEAR Protocol's total value locked (TVL) has reached $70.79 million, triggering an airdrop of 333,333 NEAR@3.33 tokens to eligible users.

The milestone, dubbed the 'NEAR@3.33' Milestone Incentive Program, was designed to reward ecosystem growth and incentivize the use of confidential transactions on the network's cross-chain pipeline.

Users who maintained a balance above $100 and successfully executed at least one confidential swap are eligible for the airdrop, with those having higher balances and more swaps receiving larger allocations.

The NEAR@3.33 tokens will be redeemable for NEAR tokens at a 1:1 ratio once the network's volume-weighted average price (VWAP) holds above $3.33 for three consecutive days.