NEAR
Return
NEAR Foundation Transparency Report: Q1 2023 – NEAR Protocol

NEAR Foundation Transparency Report: Q1 2023

NEAR Foundation
April 6, 2023

Hello, NEAR World! Welcome to NEAR Foundation’s newly reformatted “Transparency Report”. Published quarterly, NEAR Foundation’s Transparency Report explores the NEAR Foundation’s progress towards  its OKRs, as well as the latest technology news and updates from the NEAR ecosystem.

NEAR Foundation is kicking off the new Transparency Report with the Q1 edition. It features a NEAR Foundation Treasury report and a variety of exciting updates on the recently announced Blockchain Operating System (BOS), the NEAR ecosystem’s thriving projects, and NEAR Foundation’s Web2.5 strategy. You’ll get the latest on NEAR Horizon Accelerator, NDC, NEAR’s Web2 → Web3 partnerships, and more. 

NEAR Foundation Treasury Update

At the end of Q1 2023, NEAR Foundation’s treasury totalled $1.1b, including $365m fiat reserves and 316m NEAR ($630m at a closing price of $1.99). 

The NEAR Foundation has continued to adopt a highly responsible approach to treasury management in order to minimize the risk of loss in a turbulent market. Exposure to non-NEAR assets therefore has been limited, with fiat reserves held in AAA-rated Swiss bank accounts. 



Q1 has been a turbulent quarter for the US banking sector. However, the NEAR Foundation treasury’s proactive risk management policies — including limited exposure to Silicon Valley Bank (under FDIC insurance levels) and no exposure to Credit Suisse — have prevented any loss of funds. NEAR Foundation’s risk management strategy helps ensure that the NEAR Foundation maintains sufficient resources and runway even if the market downturn lasts for multiple years. 

As a result, the NEAR Foundation is in an extremely strong position to continue to support the ongoing growth and development of the NEAR protocol and ecosystem .

A recap of NEAR’s go-forward strategy 

Despite well-known issues with Web2 platforms and legacy institutions, and the significant progress made in the blockchain industry, Web3 has yet to fully deliver on its promise to open the web. The Web3 of today is held back by inaccessible user experiences, siloed apps that are difficult to discover and explore, few real-world use cases, and technology tribalism. While there is a lot of hype in Web3, there just isn’t enough value for users. 

This is why the NEAR Foundation is focusing on making the most of NEAR protocol’s fundamentals and convictions. The NEAR protocol has the best tech in Web3, world-class talent, and an ample runway. The NEAR protocol also has the ability to achieve mainstream adoption through a focus on users, rather than cultish maximalism or hype, and the understanding that converting strong Web2 projects to Web3 will get the NEAR ecosystem there. 

With NEAR’s recent launch of the Blockchain Operating System, this next phase of adoption is already underway. The BOS makes it easier than ever for Web2 apps and communities to take advantage of Web3’s opportunities while giving developers and end users a richer, more sustainable experience. 

In 2023, NEAR Foundation is focused on two different approaches to bringing more users to the NEAR protocol and the BOS. It begins with the NEAR Foundation’s top-down approach to partnerships, led by a world-class business development team. By working with major applications and brands with substantial, established communities, the NEAR Foundation is partnering on real use cases that drive engagement on the NEAR protocol, like ticketing and earning. High-traction focus verticals for these partnerships include sports, entertainment, and loyalty. Major partnerships in recent months include Grupo Nutresa, Google Cloud, and Sweat Economy

Q1 has also seen NEAR Foundation’s bottom-up, grassroots approach. This is designed to empower the NEAR ecosystem to invest in its own expansion through grants, primarily through 3 major community DAOs: Developer DAO, Marketing DAO, and Creatives DAO (visit the DAO websites to get involved). These grassroots DAOs will be supported by the NDC, which has launched several working groups in Q1. This quarter has also seen the launch of NEAR Horizon, an early-stage accelerator that will provide support across education, tech, hiring, legal, UX, and GTM guidance, to promising projects and founders on NEAR.

With the launch of the NDC, the DAOs, and the accelerator, NEAR Foundation will focus less on the allocation of capital directly to projects. Instead, the NEAR Foundation will support the community in making these decisions and further decentralizing key elements of the ecosystem. Also, Proximity supports projects building DeFi applications on the NEAR protocol through grants, advisory services, and developer support.

Q1 Ecosystem OKR performance

Throughout Q1, NEAR Foundation experienced several areas of growth toward our OKRs. While the NEAR Foundation met many of its goals, there is always work to be done. 

There is a lot of green. However, as an ecosystem we missed our North Star. NEAR Foundation’s goal was 2M MAAs but we came in short, just under 1M. There are a couple of key reasons for this, as well as a path forward to improve performance next quarter.

  1. SWEAT (which still represents the majority of MAA) is revisiting their MAA ramp up. Current expectations are that MAA growth will occur mostly in the second half of the year, with the US app launching in September.
  2. NEAR Foundation’s BD team has been closing great deals (23 in Q1 alone) — most announcements haven’t been made (6 only) and most launches will be towards the end of the year.

NEAR Foundation has built a new model to better forecast and set MAA expectations. With this new model, the NEAR Foundation is expecting just over 1.5M MAAs in Q2 of this year with a path to 10M by the end of 2023.

Outside of MAAs, the NEAR ecosystem  had a successful quarter with several areas of strength.

  • Crystalized strategy around the BOS with new branding + alpha.nearpages.wpengine.com launched in Denver (6K+ accounts).
  • Growth of Twitter followers far outpacing others in Web3 (175K per month vs. flat growth from others).
  • NDC Trust launched and grassroots DAOs starting to become fully independent and operational.
  • NEAR Horizon went from ideation to MVP with pre-cohort launch and partners signed up for full launch.
  • Despite macro conditions, the NEAR Foundation continues to manage its treasury effectively and NEAR ecosystem–based projects continue to raise external capital (Open Forest Protocol, Few and Far,  Calimero). The Backer / VC Network data infrastructure was also revamped.
  • Lots of exciting BD deals closed, setting the stage for a strong end of year when they go live.
  • The Data / Analytics team was formed to operationalize KPIs and better track and understand what’s going on in the ecosystem.
  • Q1 saw a consistent increase in total new accounts with 1.5m new accounts, as well as a consistent increase in total new contracts, seeing 3,800 new contracts on the NEAR protocol. Q1 also saw 25m transactions on the NEAR protocol.

NEAR Foundation is currently working on a suite of real-time dashboards so the ecosystem can have visibility into the progress against our OKRs. You can find this at NEARAtlas.com

OKR1: NEAR is the BOS 

At ETHDenver, it was announced that the NEAR protocol announced that it is becoming the Blockchain Operating System — a common layer for discovering and creating Open Web experiences, across all blockchains. As part of that announcement, NEAR protocol launched Alpha.nearpages.wpengine.com, a composable frontend for Web3 allowing end users to easily and frictionlessly discover all of Web3’s possibilities in one seamless experience. It also enables developers to create and code interfaces in a single environment with the ability to fork a host of components to build apps faster, and more efficiently than ever before.

The BOS announcement generated a lot of excitement, inspiring Pantera Capital’s Franklin Bi to tweet, “Decentralized frontends are the future.”

Quoting Illia’s announcement tweet, Redpoint’s Managing Director Jason Warner said: “Something I actually think is interesting is what Illia and crew are doing with NEAR and what they are calling the open web. It’s an experiment worth running for sure starting with Near.Social.”

“We need innovation at every level of the stack, not just the core protocol and smart contract layers,” tweeted Ali Yahya, General Partner at a16z crypto. “NEAR is leading the way.”

Since launching alpha.nearpages.wpengine.com, there has been strong usage and curiosity from the NEAR ecosystem community, with 6,000 accounts created and over 2,500 individual components published. The Pagoda team has been working closely with the active community of builders to help enhance the BOS experience.

Illia Polosukhin, CEO of Pagoda and co-founder of the NEAR protocol, also hosted a technical workshop where he zoomed in on each layer of the BOS stack and showed some examples of features, components to build from, and how gateways can become super apps by integrating with the BOS. 

The next big update on the Blockchain Operating System will be at Consensus. You can find out more about NEAR’s presence at Consensus here.

OKR2: NEAR is a thriving decentralized Ecosystem

One of the NEAR Foundation’s core mandates is to support the continued decentralization of the NEAR ecosystem, and great progress has been made on this front since the previous transparency report. 

A roundup of the ongoing decentralization efforts across the NEAR ecosystem follows. 

NEAR Digital Collective (NDC)

The NDC initiative was announced towards the end of last year, and has grown to become a grassroots movement with hundreds of participants, including users, projects, and other stakeholders. The NDC is focused on self-governance, aiming to empower the ecosystem to collectively make decisions in a robust and decentralized way on everything from funding to elected representatives and more. 

There are now several working groups that have been launched as part of the NDC’s work, covering various ecosystem needs including governance (Governance WG), marketing (Distribution Network WG), project incubation (Startup DAO), and legal work (Legal WG). 

To learn more about the NDC, please see here.

NEAR Community Treasury Launch

One of the NDC’s biggest achievements is the recent launch of the NEAR Community Treasury. Championed by the NDC’s Governance Working Group with support from the NEAR Foundation and other stakeholders, the NEAR Community Treasury leverages an innovative legal framework to provide the ecosystem with a robust, sustainable, and decentralized treasury. 

At the outset, the NEAR Community Treasury will hold 5,662,061 NEAR, which was donated to the NEAR Digital Collective by the NEAR ecosystem community (along with a nominal amount of USDT that was donated by the NEAR Foundation as part of the administrative setup process). 

The NEAR Community Treasury wallet is viewable here.

Grassroots DAO funding activity

The three core grassroots DAOs — Developer DAO, Marketing DAO, and Creatives DAO — have been making great strides recently in updating their internal governance and processes to ensure they are as transparent, sustainable, and effective as possible. 

NEAR Foundation has been supporting each of the grassroots DAOs through that update process. Both the Developer DAO and Marketing DAO have already begun allocating funding again, and the Creatives DAO intends to follow suit shortly.

The grassroots DAOs remain the key source of funding for anyone looking to build in the NEAR ecosystem.

NEAR Horizon (Accelerator) 

The mission of NEAR Horizon is to attract the highest quality founders to build on NEAR protocol and support them in taking off. To that end, NEAR Horizon’s strategy consists of three components. 

Product

The NEAR Horizon team is building a dApp on NEAR’s Blockchain Operating System that is a double-sided marketplace, which allows founders to find people and organizations who can help them. The team launched an MVP of the product for beta testers in early March 2023. 

Partnerships

The team is launching a series of RFPs (the first RFP was released in Feb 2023) to create partnerships with people and organizations who are well positioned to help Founders. In early Q2, the NEAR Horizon team will be releasing additional open calls for:

  • Engineering support resources
  • Talent / recruitment platforms and services
  • Legal platforms and services
  • Back office accounting platforms and services
  • Marketing services
  • Product management services

Content & Tooling

The NEAR Horizon team will provide asynchronous content and access to tooling within the dApp. Think go-to-market examples, legal how-to guides and tools like back office accounting software specifically made for Web3 businesses. 

OKR3: Web2 → Web3 

Starting in Q2 last year, the Business Development team’s  plan was to revamp and hire a full BD team, restructure past historic deals, solve for key infrastructure gaps, and bring the highest quality builders to the NEAR ecosystem. The team is now fully hired, ramped up, has met most key infrastructure gaps, and is in process of renegotiating past deals. Q1 marked the first full quarter that BD has focused on bringing builders to the NEAR ecosystem.

The goal of BD is to help enterprises and startups realize that the NEAR protocol should be the default chain of choice to start building any blockchain application. Fundamentally, BD is attempting to kickstart a flywheel effect to drive network effects to attract builders to the NEAR protocol in order to make it that default choice. 

The flywheel starts with enterprises, marquee use cases, or household brands building on NEAR that provide brand awareness and legitimacy. This in turn attracts startups to NEAR. Collectively, these support real world use cases and increase adoption to attract more users to the chain, which in turn draw more enterprises and startups to build on NEAR. 

For core use cases, BD is focused on a few key categories, including gaming, loyalty and rewards, and emerging verticals such as sustainability and decentralized science. In Q1 we focused on improving the number of partnership opportunities we were seeing, and our pipeline has increased dramatically. We found high quality sources of leads to be from backer referrals and agencies / dev shops so have strengthened those ties. BD has also seen a rise in projects looking for more support and a number of builders came over from other chains to make NEAR as their primary, or sole, chain (e.g. Passion, Dropt, Solaire). Geographically, the team now has expanded its focus to India and Korea, and expects to drive meaningful opportunities from entrepreneurs in those countries. 

SWEAT continues to be a  category leader in the move-to-earn space becoming one of the most popular Web3 apps in the world. SWEAT is being consistently used by a million monthly active users engaging voluntarily with NEAR protocol and using SWEAT tokens for staking or transactions. NEAR Foundation’s BD team will continue working with the talented SWEAT team on launching new features such as Learn & Earn, token swaps, and games that will create deeper bonds between the NEAR blockchain and SWEAT users. 

For NEAR Foundation’s Q1 goals, the BD team set out to close three Tier 1 partnerships and seven Tier 2 partnerships for a total of 10 lighthouse partnerships — a goal which the NEAR Foundation surpassed. Although several of those deals are yet to be announced, NEAR Foundation is excited to highlight and welcome the following partners to the NEAR ecosystem:

  • Dropt — By using Dropt, teams and enterprises can now easily and seamlessly introduce blockchain-powered loyalty and engagement mechanics into their customer journey. These Web3 features will help increase engagement, retention, and lifetime value without customers ever even knowing they are interacting with the blockchain.
  • BORA (Kakao games) — An affiliate of Kakao Games and its parent company BORANETWORK, BORA is focused on game development and blockchain-based gaming ecosystems. NEAR and BORA will support each other in spreading local brand awareness, invest in research and collaboration on cross-chain, host events, and generate Web3 opportunities in Korea.
  • WEMADE  – As one of the largest publicly-listed gaming companies in South Korea and a leading game developer in South Korea for over 20 years, WEMADE will be vital in NEAR’s push toward mainstream adoption of Web3. NEAR and WEMADE will support the development of blockchain apps in Korea as well as other markets.
  • Crystals of Naramunz – Featured in a premium spot under Sweden Showcases side by side with traditional games at one of the biggest gaming events in the country.  Their alpha waitlist surpassed 10,000 signups.
  • SLiC Images – In February, NBA All-Star Baron Davis announced SLiC Images, a photo and video rights management platform. Built on NEAR, it has received a grant worth $250K funded by Mintbase Grants Program.
  • SeatlabNFT – Recently named as finalists in the Mobile and Emerging Technologies category for StartUp of the Year.
  • Hydra Ventures – A first in the Web3 space, Hydra Ventures is designed to help other investment DAOs get off the ground. This partnership will open the door to the eventual launch of the first investment DAO in the Near ecosystem, with the goal of helping to provide critical funding to purpose-driven, socially impactful web3 startups.

NEAR Foundation is also excited to partner with Flow Carbon (tokenized carbon credits market), Starchain Gazer (play and own gaming), Vizta Digital (fashion metaverse), and Popp (customer engagement for SMBs) to continue expanding the NEAR ecosystem. The NEAR Foundation’s BD team remains committed to bringing the best Web2 and Web3 builders to NEAR, and look forward to sharing next quarter’s list of partnerships.


Building stronger connections with the NEAR ecosystem

As part of NEAR Foundation’s ongoing commitment to transparency and building stronger connections with the NEAR ecosystem, a number of new initiatives are in progress. 

First, the NEAR Foundation is restarting NEAR Town Halls. Similar to their previous incarnation, the Town Halls will be open to the entire NEAR ecosystem. Hosted by Marcus Ribeiro, a member of NEAR Foundation’s Community Team, they will be held bi-weekly — giving everyone a chance to get a firsthand look at the latest updates and exciting developments in the NEAR ecosystem. You can watch our March Town Hall here.

Earlier this year, NEAR Foundation kickstarted the Ecosystem Roundtable. Meeting weekly, the Ecosystem Influencer Roundtable is designed to enhance communication and increase accountability between major ecosystem projects, Pagoda, and NEAR Foundation. The roundtable’s regular meetings help with aligning on updates, sharing insights from the ecosystem, and discussing high-level ecosystem goals. These meetings, however, are not for decision-making purposes. 

Most recently, the Ecosystem Influencer Roundtable met at an offsite at ETHDenver. Over time, the goal is for the Ecosystem Influencer Roundtable to become more autonomous, and for the participants to work independently to collaborate, set goals and initiatives for the NEAR ecosystem, and develop their own governance structure. You can read more about the roundtable here

The Community Team also put out a NEAR Foundation Community Survey. The goal of this survey was to measure the ecosystem sentiment around NEAR Foundation and gather feedback on where to focus and improve efforts.The common areas for improvement that were identified were around funding, improving communications and transparency, and improving the support and engagement with the NEAR ecosystem.

Lastly, NEAR Foundation has been working on an overhaul of NEAR’s Twitter Spaces/AMAs, which showcase and highlight projects building on the NEAR ecosystem. The NEAR Foundation’s Community Team is finalizing a structured process for projects to leverage NEAR Foundation’s platforms to conduct Twitter Spaces/AMAs with the NEAR Foundation team. The team encourages feedback by following up to the Spaces/AMAs with a feedback form, which is reviewed to ensure community voices are heard and the valuable feedback is put into action. NEAR Foundation has run a few of these in a test flight to refine the project, and the new process should be live by May 2023. Stay tuned on NEAR Twitter, Telegram, and Discord accounts for an announcement on this new process. 

NEAR in the press

Q1 saw a number of top news stories from the NEAR Foundation and NEAR protocol’s thriving ecosystem. The NEAR ecosystem was covered in over 400 articles across the globe in Q1, including over 15 tier 1 stories in outlets including  CoinDesk, Forbes and  Bloomberg, and 34 tier 2 stories in outlets including  Block and Cointelegraph.  

Headlines included the announcement of the Blockchain Operating System at ETHDenver, as well as coverage from many of our partnership announcements, ecosystem hubs, and progress from many of NEAR protocol’s ecosystem projects. These include Kakao Games, SlickImages (led by ex-NBA all-star Baron Davis), Recur, LedgerLive, Calimero, Few&Far and the NDC, amongst others (more details on these below).

To find out more about NEAR Foundation’s and the NEAR ecosystem’s press coverage you can check out the  monthly roundups below:

NEAR Foundation PR Roundup for January 

NEAR Foundation PR Roundup for February


NEAR Foundation PR Roundup for March

Ecosystem Highlights

Completed Raises

Q1 2023 saw several projects complete a fundraising round.

Ecosystem News & Community 

  • The NDC GWG announced the NEAR Community Treasury is now live. 5.7 million NEAR is now available for decentralized funding of grassroots initiatives through the NDC. This is a major milestone in the efforts in decentralization of the NEAR ecosystem.
  • DevDAO, the organization behind NEAR Developer Governance, made significant strides in fostering open discussions and development via the Community and Work Groups. They established a framework and platform for decentralized funding for developer opportunities, and distributed funding to several projects. At its core, DevDAO is an embodiment of the future of decentralization of the NEAR developer ecosystem. The roadmap includes a range of initiatives such as hackathons, virtual and in-person events, documentation, and dev support programs. If you’d like to learn how to get involved, check out this post outlining the various contribution pathways.
  • The NEAR Wiki Landing page has been overhauled to provide a better user experience and a more refined journey for the end user to find what they’re looking for.
  • NEAR DemoDay kicked off this quarter on the 15th and 16th of March. DemoDay is a full spectrum ecosystem showcase, aiming to run once a quarter, which brings projects, leaders and VCs/Funds together to showcase new projects as well as discussions of hot topics in the space and exciting developments on NEAR. It was an impactful event, garnering significant interest,  including from CoinTelegraph. DemoDay saw 64 projects registered, 22 projects presented live on DemoDay, with ten ecosystem VIP judges, including Marieke Flament and Alex Shevchenko and folks from Huobi Incubator and Pantera Capital. The recap content can be found on PitchTalk.com.
  • The NEAR Foundation Community Team kicked off a weekly NF Ecosystem Amplification Twitter Spaces/AMAs series to highlight the multitude of projects building in the NEAR ecosystem. ~30 projects expressed their interest in participating.
  • NEAR protocol is being included in CoinGecko’s Candy Rewards Learn and Earn Program. It is set to officially kick off in early April.
  • The Governance Forum has gone from 8,888 members at the start of Q1 to 9,329 (~5% growth in the quarter). Weekly pageviews on the forum have gone up from 82,269 (December average) to 124,445 (~51% increase). However, the number of posts are down by 15% from the previous quarter.
  • NEAR Social (BOS) has gone from 483 MAA at the start of Q1 to 4141 MAA as of today. (~857% growth in the quarter, ~319% growth since NEAR Day @ETH Denver)

DeFi

  • NEAR protocol saw a peak of $88m TVL in Q1 2023. Ref.Finance led the way for TVL on NEAR protocol, followed by MetaPool. There was, however, a 34% drop in TVL at the beginning of April as a result of the bankruptcy of Alameda, following on from the effects of FTX.
  • Ref.Finance launched an Orderbook built on top of Orderly. The orderbook provides a transparent, efficient, and decentralized mechanism for matching buy and sell orders on the platform, allowing users to experience a Central Limit Order Book (CLOB)-like user interface.
  • Spin launched Strategies, aka DeFi Option Vaults, on NEAR protocol. DeFi Options Vaults (DOVs) are instruments that simplify option investment strategies for users. The DOV automatically deploys staked assets into specific options strategies — a process entirely run by smart contracts.

Gaming

  • Duel Network, an innovative play-to-earn gaming project on BSC, launched their token on NEAR. By embracing NEAR’s technology and growing ecosystem, Duel Network is positioned to attract and engage users from BSC. This strategic move not only amplifies the Dual Network’s reach, but also strengthens the collaboration between NEAR protocol and other leading chains.

NFTs

  • EveryoneEatsEntertainment recently launched Music Feast, a decentralized label and NFT marketplace, on NEAR protocol. With Music Feast the team is aiming to bridge the gap between the traditional music industry and Web3 by utilizing high caliber talent, and simplifying the purchase process for the end user by masking the current complexities. For example, there is fiat on-ramping with auto generated non-custodial wallets. The platform launched with a NEARWEEK AMA, along with their pioneer artists AshleeBANKZ and world-renowned hip-hop icon DJWhooKid.
  • They are currently working with 8 artists, and others are on the way. 
  • Artists will release 6 NFTs per collection on a tiered system with each providing additional perks and benefits. 
  • The main artist drop right now is Whoo Kid, featuring Ashlee Bankz. Between Whoo Kid and ClassiQ there are an estimated 1.3 million reachable fans.
  • Salmon Wallet is building an all-in-one, open-source wallet with an integrated bridge, NFT marketplace, and other features. According to the project, the Source of Water NFTs work as an exclusive membership program — holding a Source of Water NFT grants a wallet perpetual free commissions on any swap/bridge/on-off-ramp. 
  • YouMinter launched on mainnet. YouMinter is an NFT Social platform where users can create, communicate, and build a community within a sleek UI, with effortless onboarding and usage.

Infra & Devs 

  • A 2022 Near Foundation grant recipient completed and launched their Rust Smart Contract Security Course. And the best part? It’s completely free on YouTube.
  • Welldone Studio / Welldone Wallet dropped a NEAR plugin for Remix IDE. WELLDONE Studio demoed their new plugin on April 4th, which enables developers to create and deploy smart contracts on NEAR with Remix Project, the most popular IDE on Ethereum.
  • Coinpanda announced its API integration with the NEAR protocol. Coinpanda is an easy-to-use crypto tax platform that supports DeFi, NFTs, and 800+ integrations.
  • At ETHDenver, Calimero announced the launch of private sharding on NEAR. Now anyone with minimum experience and proficiency in blockchain technology can launch their own private shard in a matter of minutes and be sure about the performance and security that is managed by the platform itself. This is facilitated by Calimero Console, a user-friendly interface that makes deploying, monitoring, and maintaining private shards a streamlined and user-friendly process.
  • Keypom is a tool built and recently launched on NEAR that allows anyone to create highly customizable onboarding experiences for both new and existing users. They launched a companion no-code app as well as an SDK and docs at ETHDenver. Keypom will be at Consensus, where they’ll show off trial accounts — a way to instantly sign in and start using an app with the click of a link.
  • NEAR Foundation, in partnership with Developer Governance, Proximity Labs and Aurora Labs, sponsored over $36,000 worth of bounties at ETHDenver, and there were a number of great submissions. There will be many more hackathons coming up this year, so be on the lookout for announcements so you don’t miss out.
  • Aurora released Aurora Cloud, a turnkey blockchain solution for businesses transitioning to Web3.

A Look Ahead

to Q2, the NEAR Foundation is continuing its strategic focus on similar  OKRs to Q1, including more work on the Blockchain Operating System, the continuing efforts toward a thriving decentralized ecosystem, and our Web2.5 strategy.

This NEAR Foundation Transparency Report (the “Report“) is provided for informational purposes only. The information contained herein is provided on an “as is” basis, and the NEAR Foundation makes no representations or warranties, express or implied, regarding the accuracy, completeness, or reliability of the information contained in this Report.

The NEAR Foundation, its affiliates, directors, employees, and agents, shall not be held liable for any errors, omissions, or inaccuracies in the information provided herein. NEAR Foundation reserves the right to update, modify, or amend any information contained in this Report without prior notice. This Report is not intended to provide financial, investment, legal, tax, or any other professional advice. Readers should consult with their own professional advisors before making any decisions based on the information contained in this Report.


Share this:

Join the community:

Follow NEAR:

More posts

A Post from Illia Polosukhin
May 22, 2024

User-Owned AI is NEAR