Ref Finance, according to the Defillama website, ranks fourth in terms of TVL and is the most popular DEX on the Near platform, holding the top spot.

This platform has seen approximately 7.7M swap transactions and has 645K unique swappers, who have collectively swapped about $1.7B USD. The average swap volume on this platform is around $222 USD, with an average of 7.7K swap transactions and 640 swappers per day.

Analyzing the data over time, since the beginning of 2024, Ref Finance has experienced a significant resurgence. In March 2024, it hit an all-time high (ATH) with over 1.79M swap transactions and around 300K swappers. However, the platform still has room to grow to reach an ATH in monthly swap volume.

Regarding the top tokens on this platform, wNEAR is the most popular token for both incoming and outgoing swaps, boasting the highest swap volume among all tokens.

When examining user activity, most users conducted between 1 and 5 transactions. Grouping transactions by their volume reveals that the majority had less than $10 USD in volume. Notably, the user "yuxsccc.near" had the highest swap volume, exceeding $260M USD.

Furthermore, since the start of 2024, Ref Finance dominates the Near ecosystem with nearly 100% of the swap transactions and swappers, making its position virtually unchallenged.

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Built on top of the cutting-edge protocol NEAR, Ref Finance is the gateway into the NEAR ecosystem through its AMM DEX, which provides liquidity and swapping features. In addition, Ref utilizes the trustless Rainbow Bridge, which seamlessly bridges Ethereum-based assets over to NEAR, and vice versa, allowing for an array of DeFi users to access lower fees and faster transaction speeds Link.