Inventory of NEAR Ecological DeFi Applications

DeFi, that is, decentralized finance, is a very critical factor for building a truly open network. The recent success of Ethereum is largely due to the sudden emergence of DeFi last year, and experiments related to blockchain-based financial tools and incentives have also made great progress due to the popularity of DeFi. With the help of DeFi's composable native building blocks, moves that take weeks in the traditional financial system can take seconds in the DeFi industry, while the cryptocurrency economy also provides people around the world with unreliable local currencies and bank alternatives.

However, while the surge of interest and experimentation in DeFi has provided a large number of opportunities for DeFi users, it has also greatly increased the difficulty for the general public to enter the industry. Whether it is network congestion, sky-high gas fees, or rising prices of a large number of popular currencies, the current entry barriers for the DeFi industry have become increasingly difficult for those builders and creators who have just begun to explore the cryptocurrency field. unattainable.

Now NEAR is working hard to change this situation and make it easier for ordinary users to participate in DeFi.With the release of Rainbow Bridge, the DeFi function is officially launched on NEAR, creators and users all over the world can use NEAR's DeFi products and services. All assets originated on Ethereum (currently valued at billions of dollars) can now seamlessly interact on NEAR's platform.Since launch, more than one million dollars worth of ETH, DAI, USDT, and other popular coins have crossed the Rainbow Bridge and are now being used within NEAR’s native apps such as Pulse and Ref. Thousands of users have begun to explore NEAR applications, enjoying the Web2-like fast transaction time (about 1 second) and low gas fee (less than 1 cent) of the NEAR network.secondary title

Gradually emerging NEAR native ecology

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core components

Rainbow bridgeThe Rainbow Bridge Connecting NEAR and Ethereum is Live, the same architecture only needs small changes by technicians to allow NEAR to connect to all EVM-compatible blockchains, including Polygon, Matic, Binance Smart Chain, Avalanche, and finally connect to the new L2 blockchain. Such as Optimism and Arbitrum. In addition, the Rainbow Bridge team is planning to expand Rainbow Bridge to support blockchains that are not EVM compatible, including Bitcoin, Cosmos IBC, and any other chains with high-value assets and data.SputnikDAODAOs are an important part of almost every blockchain protocol's decentralized governance strategy. SputnikDAO is the DAO infrastructure on NEAR. With the help of this tool, it will be much easier for projects or individuals to publish DAOs on NEAR, set the governance model for their treasury management, and update the smart contracts of the agreement. Projects can set up multi-sig governance or issue and distribute governance tokens (both through Sputnik), or both.URL: https://sputnik.fundBoringDAOBoringDAO is a decentralized asset bridge that will connect NEAR assets to Ethereum and other blockchains in the future, and introduce PoW assets such as Bitcoin into NEAR. BoringDAO bridges assets using a DAO-operated "channel" that manages the minting and burning of cross-chain tokens.secondary title

DEXs/swaps

 Ref FinanceRef is the first DeFi platform on NEAR. The first version of Ref is somewhat similar to UniswapV2, which can support more pool types, multi-hop pools (all pools are in one smart contract), configurable fees, etc., and it is completely owned by the community.Ref beta version: https://app.ref.finance/Discord：https://discord.gg/uKSXEMYGTwitter：https://twitter.com/finance_refLiqualityOracleLiquality：https://liquality.io/

Oracle

FluxFlux protocol teamPlanning to release a new oracle aggregator to power DeFi applications on NEAR. The optimized Flux oracle can support API, random and price feed data, and the security is guaranteed by economic guarantee. In addition to organic data, Flux oracles can also leverage existing oracles and price feeds (Chainlink, Band, Uniswap) to provide developers with secure, customized price feeds.Flux：https://fluxprotocol.org/Band ProtocolBand Natively Brings Price Feeds and Data Sources to the NEAR Blockchainprediction market

prediction market

Pulse Pulse is a community-owned and community-run app, and the first application powered by the Flux oracle. Users can use the app to predict a series of events, such as good or bad weather, whether people find any loopholes in the NEAR Rainbow Bridge, etc., and submit the prediction results.liquid pledgePulse：https://pulsemarket.eth.link/Twitter：https://twitter.com/pulsemarkets

liquid pledge

MetapoolStaking derivatives and DAO-based staking distribution are critical for PoS networks to remain decentralized. Metapool can achieve the above two points at the same time. Users can pledge their NEAR through Metapool, and Metapool will distribute NEAR to the verification nodes on the whitelist, and then return $stNEAR. stNEAR and NEAR have a 1:1 redeemable relationship, and holders will receive staking rewards in the form of stNEAR. These stNEAR can be used in DeFi applications, and you can enjoy an additional 10% annualized return by staking NEAR through this method.Metapool：https://www.narwallets.com/dapp/testnet/meta/Oysterpacksecondary titleTwitter：https://twitter.com/OysterPack

Synthetic Assets/Lending

OIN FinanceOIN is a decentralized stablecoin issuance platformsecondary titleOIN：https://oin.finance/

Points Card

Cheddarsecondary titleTwitter：https://twitter.com/CheddarFi

Building the Next Generation of DeFi Products for NEAR

The projects mentioned in this article are just the beginning of the NEAR DeFi ecosystem: the NEAR ecosystem is still full of opportunities for various protocols, applications, and pilot areas to explore and further promote its decentralization.If you are interested in building a project on NEAR, you may consider applying for a grant from the NEAR Foundation to help your DeFi project obtain financing. You can also get involved in our community by joining our Telegram group, Discord and Reddit or follow us on Twitter.