Top 10 Protocols on Near Protocol by Monthly Transaction Activity

Blockchain technology is rapidly evolving, but along the way, it has encountered various issues that must be resolved before blockchain finally conquers our economy. Near Protocol is one of the blockchain networks that came to challenge some of the major players in the space, with its unique Nightshade sharding technology and WASM-based virtual machine. Furthermore, Near has a healthy ecosystem that is constantly growing with decentralized applications various types. Hence, its worth having a look at the current state of Near Protocol ecosystem and its current top 10 most used decentralized applications.

Top 10 Protocols on Near Protocol by Monthly Transaction Activity

Protocol NameCategoryTransaction Volume
Aurora (AURORA)Infrastructure14,027,513
Near CrowdInfrastructure3,108,517
Ref Finance (REF)Decentralized Exchange1,210,457
Paras (PARAS)NFT Marketplace399,172
Burrow (BRRR)Lending126,582
Cryptoheroes (PXT)Game84,004
Skyward (SKYWARD)Launchpad59,751
Meta Pool (META)Liquid Staking53,528
Jumbo Exchange (JUMBO)Decentralized Exchange20,629
Berry ClubYield Farming18,719
Top 10 Protocols on Near Protocol by Monthly Transaction Volume(source AwesomeNear)

A brief overview of the top 10 protocols

1. Aurora

Aurora is an EVM-compatible sidechain built on the Near Protocol which allows developers familiar with the EVM technology stack to easily deploy applications on Near Protocol. Builders on Aurora can get the best of both worlds – EVM compatibility and Near Protocol’s sharding technology. This allows Aurora to provide high throughput and scalability with low transaction costs.

2. Near Crowd

NEAR Crowd is a service that allows people to earn $NEAR by completing small tasks. While tasks are provided and funded by a centralized entity, called the Requestor, NEAR Crowd significantly limits the power that the Requestor has, and moves the power to the community instead. In particular, while the Requestor provides the specification of what needs to be done in each task, it’s the community that decides whether each task is completed correctly. This is achieved by creating a set of rules, checks, and balances that are enforced by a smart contract deployed on NEAR.

3. Ref Finance

Ref Finance is a community-led, multi-purpose Decentralized Finance (DeFi) platform built on NEAR Protocol. Currently, Ref Finance has a general AMM DEX component, designed based on the Uniswap AMM model as well as a Stableswap component designed based on Curve Finance AMM model.

4. Paras

Paras is an NFT marketplace that focuses on digital collectibles. The team aims to bring conventional collectibles to crypto space. They started with digital art cards that were inspired by real-world trading cards. These types of collectibles have remained popular since they were first introduced back in the 80s. Paras is built on the Near Protocol and IPFS/Filecoin. Running on top of NEAR, a scalable blockchain, Paras offers very cheap and fast transactions for users. 

5. Burrow

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.

Burrow aims to unlock liquidity for interest-bearing assets, particularly layer 1 staking derivatives such as stNEAR and stETH. Users of Burrow will be able to deposit stNEAR as collateral, then borrow more NEAR to create a leveraged staking position, or borrow a stablecoin to create a self-repaying position.

6. Cryptoheroes

Cryptoheroes is a blockchain-based game, focused on PvE looting, trading, and forging items as well as fighting bosses with friends to earn PXT.

Enter dangerous dungeons on your own, defeat evil minions and gather loot to improve your strength! Join raids with allies to defeat more evil bosses in epic fights and compete for weekly pixeltoken treasures! Each raid consist of 8 players and the top 20 raid teams are rewarded each week. You can also place your items on the marketplace or reforge them to improve your existing gear.

8. Skyward Finance

Skyward Finance is a decentralized platform to enable fair token distribution and price discovery for projects built on NEAR Protocol. Skyward Finance is a type of launchpad that allows projects to raise initial funds/liquidity.

Skyward Finance’s goal is to provide mechanisms for initial price discovery and token distribution through a streaming time-based auctions that are accessible to the general public in a decentralized way while being resistant to front-running, price manipulations, and Sybil attacks.

7. Meta Pool

Meta Pool is the liquid staking solution for NEAR and wNEAR token holders. Similar to other liquid staking solutions, users staking NEAR with Meta Pool receive in exchange a NEP-141 standard token, stNEAR. The stNEAR token simultaneously accrues staking rewards while users can further use the token in the various Near and Aurora protocols, by further earning additional yield.

9. Jumbo Exchange

Jumbo is designed to be the most user-friendly exchange that sets out to eliminate the common struggles people experience when navigating Decentralized Exchanges. Jumbo Exchange, similar to Ref Finance is also based on Uniswap’s AMM model.

Thanks to various aspects of NEAR Blockchain and proprietary algorithms, Jumbo works seamlessly meaning each interaction with the exchange is supplemented with immediate visual feedback and appropriate instructions. Jumbo is specifically created to serve one purpose – an unobtrusive and fun experience when trading/swapping and staking your digital assets.

10. Berry Club

Berry Club seems to be one of the first and one of the most engaging protocols on the Near blockchain. As per the records, Berry Club has actually been developed even before Near mainnet was launched. Berry Club together with Berry Farm and Banana Swap are a suite of DeFi yield farming protocols. They were developed partly for community participation and creativity, but also to prove the viability of DeFi apps on NEAR.

Aris Ioannou
Aris Ioannouhttps://coinavalon.io
Aris created Coinavalon with the purpose of helping the average person navigate the decentralized web. Aris has been passively in the space since 2017 and full time since late 2020. Before Coinavalon, Aris worked as a Business & IT Architect in the financial services sector. Aris holds an MSc in Advanced Computing from Imperial College London, a BSc in Computer Engineering from University of Cyprus and currently pursuing an MBA degree from CIIM.

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