Introduction

NEAR Protocol:

NEAR is a public Proof-of-Stake (PoS) blockchain that aims to bring DeFi to the masses with low transfer fees and fast transactions.

Its consensus mechanism is Proof-of-Stake and it uses sharding technology to achieve speed and scalability. NEAR also provides a bridge and scaling solution for the Ethereum blockchain. NEAR Protocol uses PoS consensus to secure and validate transactions on the blockchain. Validators earn NEAR Token rewards for producing new blocks in the form of a static inflation rate of about 4.5% each year.

NETH:

Developed by Proximity, NETH is a smart contract that enables users’ Ethereum account to sign transactions and remotely control their paired NEAR account, allowing them to directly interact with NEAR dApps using their Ethereum wallet, such as MetaMask (the leading self-custodial software cryptocurrency wallet, Trusted by millions of users worldwide)

Deployed on the NEAR side, NETH allows the paired NEAR account to accept transaction details (payload) and the signature from the paired Ethereum account. The contract:

• verifies the signature from the Ethereum account,
• recovers the Ethereum public address and,
• executes the transaction if it matches the address from the initial NETH setup.

This means that NEAR is now accessible through the most widely used non-custodial wallet in crypto, removing the entry barrier for EVM users to enter the NEAR Native ecosystem. Also, NETH accounts can handle NEAR transactions with multiple receivers and multiple actions per receiver, making a NETH Account capable of using the most advanced NEAR dApps.

👇🏼👇🏼👇🏼 NETH Wallet (NEAR Protocol) 👇🏼👇🏼👇🏼

👇🏼 👇🏼 👇🏼 Linked EVM Wallet (Ethereum Chain) 👇🏼 👇🏼 👇🏼

In this part, you can see the total number of wallets that have registered on [NETH.APP](https://provide valuable insights into the world of NETH and NEAR. So let's dive into the data and see what we can learn!) (65 unique users) and their evolution over time. As we see, the highest peak of NETH wallet creation was during its first days of launch. after that high peak, we can see several days without any registered users in this protocol. again during the recent week, we can see some increased activity of registered users on the NETH app (most of them are MetricsDAO analysts!)

In the provided above table, you can see the full list of NETH users (their username) and their linked Ethereum wallet address + the creation date of their wallet. There are some familiar names in this table which are MetricsDAO analysts such as Jacktheguy, Voyagercrytpo, Adriaparcerias, Alik110 (Myself!) and etc.

And on the left chart, we can see the total number of transactions done by NETH users in the NEAR protocol (571 TXs). Fenz.near is by far the most active NETH user with 76 done transactions with his/her NETH wallet.

Summary & Conclusion

According to the above analysis, The highest peak of NETH app usage was during its first days of launch on December 2022 and as time goes on, the number of newly registered users on this app has decreased significantly over time. during the last week, mainly because of the registration of MetricsDAO analysts (including myself!), there was another high peak of registered users in the NETH app (maybe in order to be able to provide analysis for this bounty!) The highest peak activity of NETH users in the NEAR chain was also during the first days of their creation date (in December 2022) and Fenz.near with 76 transactions is by far the most active NETH user. However, the majority of NETH users have been active for only 1 day in NEAR protocol via their NETH account.

There was not much positive correlation between the activity of NETH users in NEAR vs Ethereum chains. This can be because NETH is still a newbie and the majority of its users have done low number of transactions via their created account. However, the most active NETH users (in NEAR protocol) have done a low number of transactions on the Ethereum chain.

The high number of transactions and also active days of NETH users in the Ethereum chain (via their linked EVM wallet) as well as their old age shows that the majority of NETH wallets are experienced DeFi & Cryptocurrency users.

The Wallet balance of NETH users in both NEAR & Ethereum chains is not so high which shows the low “Whale” activities among NETH users.

There are currently only 2 DeFi protocols in the NEAR chain which support NETH accounts (Burrow and Ref Finance), The popularity of Ref Finance (as the top DEX in the NEAR Chain) is way more than Burrow in NEAR Protocol. So we can conclude that Swapping is the most common action done by NETH users and Burrow-related actions such as Lending & Borrowing are in the next ranks.

**Discord: Ali3N#8546 Twitter: Alik_110 Email: Alik110.72@Gmail.com Check out My Other Dashboards at: **

An Overview of NETH Users

In the above-left chart, we can see the daily activity of NETH users via their registered NETH account in the NEAR protocol. the highest peak of their activity was during the first days of the NETH launch and the total trend line is decreasing which shows the lower activity of NETH users in NEAR protocol over time.

In the above-right chart, we can see the monthly activity of NETH users in the Ethereum chain via their linked Ethereum wallet. As we see, their main activity has begun since August 2022 and the majority of activities are done by Xiayuer.near. The highest peak of NETH users’ activity in the Ethereum chain was during December 2020 - February 2022 and after this timespan, there is a decreasing trend of NETH users activity in Ethereum chain.

In the above, we can see the activity of NETH users in both NEAR & Ethereum chains. Obviously, their activity within the Ethereum chain (via their linked Ethereum wallet) is way more than the NEAR protocol.

Moreover, we can see the majority of NETH users have more than 100 done transactions in the Ethereum chain and almost 18% of them (the second-highest percentage) have been active in the Ethereum chain for more than 100 days. So, we can conclude that NETH users are some high-experienced Ethereum users.

The majority of NETH users have done 6 - 10 transactions via their NETH account in NEAR protocol and most of them have been active on only 1 Day in this chain.

In the above data, you can see the data about the wallet age of NETH users in the NEAR protocol and Ethereum chain. (The wallet age is considered from the date of the wallet’s first transaction in NEAR or Ethereum, till today (current date))

The majority of NETH users have 2 - 3 Months of age in the NEAR protocol (since only 3 months passed since the launch of the NETH app (in December 2022), at the moment, there cant be users with higher ages)

On the other hand, the average wallet age of NETH users in the Ethereum chain is 597 days and the majority of them have a 1-2 years wallet age in this chain followed by wallets older than 2 years.

As mentioned in the medium article provided by Proximity, currently, NETH is live on NEAR’s Wallet Selector plugin on Ref Finance & Burrow dApps (with many more to come!). As we see, the most majority of NETH users have interacted with Ref Finance (more than 95% of them) which shows way higher popularity of Ref Finance compared to the Burrow cash among NETH users. Moreover, we can see USDC & USDT are the most popular used coins by NETH users in NEAR Protocol. in this list, there are also some other popular assets such as AURORA, REF Token, ETH, Wrapped & Staked NEAR, DAI Stablecoin, Burrow token & other currencies.

> Ref Finance is an automated market maker (AMM) and stableswap marketplace—essentially an AMM specifically for stablecoins—built atop Near Protocol. The platform aims to bring together DeFi tools including a decentralized exchange (DEX), lending protocol and synthetic asset issuer in a "one stop shop".

> Burrow is a decentralized, non-custodial pool-based interest rates platform that enables users to supply assets to earn interest, and to borrow against them to unlock liquidity. Burrow is similar in nature to Aave, Compound, and other pool-based protocols.

On the other hand, in the Ethereum chain, We can see also USDC is the most popular destination of NETH users’ transactions followed by Wrapped Ether (WETH) and ZkSync protocol in the next ranks. Uniswap (the biggest Decentralized Exchange in Ethereum) is also among the top destinations of NETH users in Etheruem.

In the above data, you can see some data about the wallet balance of NETH users in their NETH account in the NEAR Protocol & EVM wallet in the Ethereum chain.

As we see, the majority of users are low-balanced in both chains. in the NEAR protocol, the most number of users have less than 1 $NEAR balance (an average balance of 4.19 $NEAR) and in Ethereum, the majority of users have less than $10 balance (an average balance of 621 $USD) in their wallet.

There are not any NETH users with more than 100 $NEAR balance and the share of users with more than $10,000 USD balance in their EVM wallet is lower than other types of wallets. We can conclude there are not many “Whales” activities among NETH users.

NETH comprises a NEAR account with a deployed smart contract and the NEAR Wallet Selector plugin. Some of its key features are as follows:

• Everything is open-source.
• The entire process is non-custodial: users are in charge of their keys the whole time.
• The NETH Account setup flow is entirely client-side: it runs on user computer only and is not communicating with a server or third party.
• NETH is ***whitelisted ***on NEAR’s Wallet Selector, which smoothens the dApp integration process. Projects on NEAR only need to integrate the Wallet Selector and NETH will show up as one of the default options. The repo for the Wallet Selector can be found here.
• As with any transaction on NEAR, there are some fees that go to validators (not affiliated with Proximity) to fund the wallet initially. Currently, the creation of a NETH account is 0.5 $NEAR, which is used to pay for the account name, access keys, and contract storage.

(Read More at Medium Article)

What is this dashboard about?

In this dashboard, I am going to provide useful insights about the world of NETH and NEAR protocol. For this purpose, I am going to:

• Provide an overview of NETH users (like the total number of them, their evolution over time, and their activity in NEAR protocol)
• Provide comprehensive information and insights about NETH users in both NEAR protocol (by their NETH wallet) and Ethereum chain (by their linked EVM wallet)

NETH Users’ Behavior & Stats in NEAR chain (via their NETH account) and Ethereum Chain (via their linked EVM wallet)

According to the above charts, There is not much positive correlation between the activity of NETH users in NEAR vs Ethereum chains. This can be because NETH is still a newbie and the majority of its users have done fewer transactions via their created account. Also, we can see the most active NETH users (in NEAR protocol) have done fewer transactions on the Ethereum chain.

Correlation of NETH Users Activity in NEAR & Ethereum Chains

Methodology

The main table sources used for this analysis are Flipside’s near.core.fact_transactions. I have created a NETH account myself in order to identify the NETH contract address in Near protocol which is 'nethmap.near' meaning that the tx_receiver of NETH account creation transactions is 'nethmap.near'. Moreover, since NETH was officially launched on 19th December 2022 (based on this tweet and also published medium article by Proximity), I have filtered the timespan to the days after 19th December 2022 For extracting the equal EVM wallet address of the NETH users I have used near.core.fact_actions_events_function_call joined with near.core.fact_transactions table using (tx_hash). the EVM wallet address is extracted from args column.

For analyzing Ethereum chain data, I have mainly used ethereum.core.fact_transactions & ethereum.core.fact_event_logs tables and joined these tables with tables that I have extracted the equal EVM wallet address of NETH users from them.

In the above-left chart, we can see the daily transferred volume of NETH users in the NEAR protocol over time. As we see, the highest peak of these users’ activities was during the first days of the NETH launch and as time goes on, the volume of transfers (both inflow & outflows) is decreasing.

Also, the generated fee in NEAR protocol by NETH users (above-right chart) was at its highest amount during the first days of its launch and the total trend is decreasing over time.