Project Overview

Each week, the NEAR Foundation publishes data to help the NEAR community understand the ecosystem's health as part of their Transparency Report.

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We want your help in making the NEAR ecosystem even more transparent. How can you improve on the existing NEAR Transparency report?

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Explain which metrics should be taken into consideration and why. Then, analyze those metrics over the last several weeks and draw your own conclusions on the health of the NEAR ecosystem.

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Grand prize-winning dashboards will go above and beyond the existing report, allowing readers to get the best possible snapshot of NEAR, its users, and its ecosystem.

Introduction

NEAR Protocol is a decentralized platform that seeks to facilitate the development and deployment of dApps on its blockchain technology. More precisely, NEAR Protocol is a decentralized smart contract platform that focuses on creating a developer and user-friendly experience. 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. 1

Transaction stats

USERS

FEE stats

Contracts : Deployment and Performance

Network performance

Price

Findings

• The token price of a network is a summary of everything that happens in it. Therefore, by looking at the token price at a glance, many things can be quickly concluded.
• As can be seen, after a downward trend, the price of this token has been able to reach the highest level since mid-November after breaking the resistance.

The charts show an increase in the total number of transactions and active addresses in Near Blockchain since Christmas arrives and suddenly jump in that metric on Jan 9th .but the highest amounts were on SEP 12th with almost 129k and Aug 15 with 115k.since 2023 as mentioned, we can see an upward trend for this metric .

NFT stats

Method

I divided this dashboard to 9 sections and each section has his categories:

1. Daily Price (average, min, max)

2. Network performance which is including:

   1. weekly average block time
   2. weekly avg transactions per second (TPS)
   3. Weekly Failed Txns %

3. Transaction stats which is including

   a. Weekly #Txns and its change %

   b. cum. weekly number of transactions

   c. weekly total Blocks

4. Users:

   a. weekly #Active Addresses and its change %

   b. Weekly new addresses and its change %

5. FEE stats

   a. Weekly Fee and its change %

   b. Weekly Fee per txn and its change %

   c. 10 contracts with most of the gas used

   d. Monthly top 5 contracts in Gas usage

6. Contracts : Deployment and Performance

   a.Number of active contracts over time

   b. ratio of active contracts over time

   c. weekly new NEAR contracts deployed and its change

7. Swap Stats :

   a. weekly volume of swaps and its change %

   b. weekly number of swaps and its weekly change %

   c. weekly number of swappers and its weekly change %

8. NFT stats

   a. weekly NFT stats

   b. Top collection by Volume

   c. weekly number of Mints, Minters and Minted NFTs

   d. Top collection by Mints Volume

9. Burrow stats:

   a. Borrow USD Volume per action and Token

   b. daily and last TVL, liquidity, collateral amount in USD

   c. daily TVL & Collateral utilization ratio

Burrow Stats

Introduction

Burrow is a decentralized, non-custodial, pool-based interest rate market protocol built on NEAR that allows users to supply assets and earn passive interest, and borrow against them to utilize liquidity. Users are also able to deposit a token as collateral and then borrow another one to create a leveraged position. In general, it is similar to other pool-based protocols such as Aave and Compound. The smart contracts of Burrow are written In Rust and run natively on the NEAR blockchain.

The burrow protocol has a native token named BRRR that allows holders to benefit from boosted APY by staking it. Stakeholders will receive xBRRR tokens in exchange that enables extra rewards of more than two to four times the rewards they would have earned without it. They are also able to partake in DAO governance through token-weighted voting.

Swap stats

Findings

• Network Performance, as its name suggests, shows the overall quality of system performance. In this section, we have reviewed average block time, weekly avg transactions per second (TPS) and Weekly Failed Txns %.

• The average time to form a block (between two blocks) was at its lowest value at Jan 2nd with 1.14 sec, but as we move forward, we see increasing to 1.6 seconds . Looking in general, we can conclude that a upward trend for this average was formed in 2023 ,till now.

  
  In the month of Aug and Sep, we see the highest values in TPS . but , by the time passes , the TPS is decreasing from 9 in highest to 3.5 in lowest on other days of 2022.we see an upward trend for TPs in 2023 to 5.84on mid January.

  
  Although we saw the highest daily percentage of failed transactions on Mid Aug with over 65% in its highest, we cannot ignore the downturn trend of this percentage in 2022, in such a way that its percentage fluctuated from 7 to 9 on 2022.in 2023 we can see an upward trend for this metric .

There are two interesting points about the number of new addresses, the first is that we saw 576K active addresses on Sep 12th.

All this coincides with the increase in the price of Near , which can be the reason for attracting users. And the second point is that we have the day with second most new addresses in Jan 16th 2023. the trend of daily new addresses was relatively positive on 2023.

Weekly Fees was also on its highest on mid September .the interesting point is decreasing trend in this metric by the time going. we see an increase in Fee per txn till neaw year arrived and then a sharp drop by -69%.

token sweat was the contract with the most of gas used , followed by Aurora and app nearcrowd .

you can also find the monthly top contracts in gas consuming in the other chart provided.

To close this section, here it can be seen the number of smart contracts created over time, both successful and failed creations.

In this case, the trajectory looks similar to the trasnactions fees one. The number of new smart contracts remained constant from the beginning until April 2022, but then decreased a little bit.

So far, there have been more than 10k unique smart contracts created and 233 failed contracts.

According to the obtained results, it can be said that the NFT market in Near is not very prosperous. On November 21, with $29k sales, it has experienced its highest amount since 2022 until today. But gradually, the sales have decreased. But since the beginning of the new year, a positive trend has been observed.

We also see that all the following metrics have experienced a positive shock since Christmas Day and have started a positive upward trend:

• daily sales per collection
• daily sales volume $ per collection
• daily #sales per Buyer
• daily USD per per Buyer

The current TVL amount for Burrow platform is 71.4M USD

The current Liquidity amount for Burrow platform is 56.4M USD

The current Collateral amount for Burrow platform is 17.8M USD

The current TVL Utilization ratio is 0.232

The highest TVL was on Aug 8 with 511M USD, on this date also the liquidity was the highest with 443M USD.

The highest Collateral or borrow amount was on July 25 with 84M USD

after this we can see clearly there was high decreasing in all three amounts

Conclusion

• highest amount of mints was on Jul 14, 2022 with 13.44K Mints event.
• Feb, 2022 was an active month for NFTs on Near ecosystem
• highest daily Mint Volume was on Jun 18, 2022 with more than 16.6K $NEAR
• Mint Volume in the last 3 months is very low
• Top collection base on Mints Volume is RokcetBois with 23.75K $NEAR
• highest NFTs sales Volume was on Feb 03 with 59.42K $NEAR
• Last three months sales Volume was very low and that reflects low popularity Of NFTs recently
• Top collection base on Sales asac.near with 260K $NEAR
• the highest transfer Volume in $NEAR and USD was on Apr 20 with 69.36M $NEAR and 1.18B USD
• the activity of NEAR network recently was very low because the transfer Volume was very low
• the highest Volume of swap was on May, 11 with 78.18M USD
• recently both of swap Volume and users number had a very low amounts
• in Burrow Most of the Volume belongs to Borrow action with 31.5%
• The current TVL amount for Burrow platform is 70.5M USD