Near Protocol’s Q2 2023 Transparency Report
According to the July 10 report, the Near Treasury currently consists of $349 million in fiat, 315 million NEAR, and $90 million in loans and investments. A net total of $16 million and 1 million NEAR were distributed to the ecosystem in Q2. In comparison, the Near Treasury totaled $1.1 billion in Q1 2023.
Treasury Management and Strategy
The NEAR Foundation has taken a responsible approach to treasury management, aiming to minimize risk in a volatile market while fulfilling its mission. The foundation has limited exposure to non-NEAR assets, maintaining fiat reserves in highly rated Swiss bank accounts.
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Focus on Three Core Strategies
In response to industry challenges, such as regulatory actions against major exchanges, the Near Foundation has shifted its focus to three core strategies:
1. Enhancement of its blockchain operating system
2. Continued building of its decentralized ecosystem
3. Onboarding Web2 users to Web3
Growth and Partnerships
Throughout Q2, the Near ecosystem witnessed 1.1 million monthly active accounts. In Q3, the Near team will prioritize growing partnerships and supporting projects in the Near Horizon ecosystem.
Ecosystem Fund and Regional Hubs
In Q4 2021, Near Protocol established an $800 million ecosystem fund, which is allocated to decentralized finance grants, foundation grants, startup funds, and funds for regional hubs.
Hot Take
Despite a decline in the Near Treasury, the NEAR Foundation remains committed to transparency and responsible treasury management. By focusing on core strategies and fostering partnerships, Near Protocol aims to continue growing its decentralized ecosystem and onboarding Web2 users to Web3.
