Introduction

Near is a blockchain-based platform and cryptocurrency that aims to provide a scalable and user-friendly ecosystem for decentralized applications (dApps). Launched in 2018, Near Protocol, commonly referred to as Near, offers developers the tools and infrastructure to build and deploy their applications securely and efficiently.

Near operates on a Proof-of-Stake (PoS) consensus mechanism, where token holders can participate in securing the network and validating transactions. It focuses on scalability and usability, aiming to overcome the limitations faced by earlier blockchain platforms, such as high transaction fees and slow processing times.

The native cryptocurrency of the Near platform is also called Near, and it serves as a utility token within the ecosystem. Near tokens can be used for various purposes, including paying for transaction fees, participating in governance decisions, and supporting network security.

Near aims to enable the creation of decentralized applications that offer a seamless user experience, similar to traditional web applications, while maintaining the core principles of blockchain technology, such as decentralization, transparency, and security. With its emphasis on scalability, usability, and developer-friendly tools, Near aims to drive mainstream adoption of blockchain technology by providing a platform that is accessible to both developers and end-users alike.

Methods

The methodology employed in the analysis presented above involves a comprehensive examination of various graphs and data related to the Near social platform. The focus is on interpreting and drawing conclusions from the visual representations of key metrics, such as daily active users, transactions, new users, retention rates, and Horizon feature usage.

By analyzing the trends, patterns, and relationships depicted in the graphs, the methodology aims to uncover insights and make informed observations about the behavior of Near social users. This includes understanding the fluctuations in user activity, transaction volumes, adoption of platform features like Horizon, and the effectiveness of retention strategies.

Additionally, the methodology involves comparing and contrasting the data across different graphs to identify correlations and trends. It also includes examining the distribution of actions and active users by type to gain a deeper understanding of the evolving dynamics within the Near social platform.

Firstly, in the Daily Near Social active users graph, there are two significant peaks observed. One of these peaks surpasses 1.5k. However, following these peaks, the figures gradually decline.

Secondly, when examining the Daily Near Social transactions graph, there is a rather consistent trend observed since March 2023. Just before this period, there is a substantial peak, indicating a surge in transactions.

Lastly, in the Daily Near Social new users graph, two notable peaks stand out. In total, there are 12.2k new users identified within the given timeframe.

Comparing the Daily Near Social transactions graph with the Profile change and Post graphs, we observe that the figures are relatively similar, but there are more transactions in the Post category. This indicates that there is a higher frequency of transactions associated with posts compared to profile changes.

Furthermore, when analyzing the Distribution of actions by type graph, we notice that the action of Post is steadily gaining momentum over time. This suggests that posts are becoming increasingly prominent in terms of user activity and engagement.

Similarly, in the Daily Near Social active users graph, we observe a similar trend, although Post surpasses Profile change in terms of user activity. By examining the Distribution of active users by type, we can also see that the significance of Post is growing steadily. This indicates that posts are becoming more influential in attracting and retaining active users on the platform.

In the % social users using Horizon graph, we observe that the maximum number of users utilizing Horizon is 10. There is an unstable trend characterized by fluctuations over time. This indicates that the adoption and usage of Horizon among social users are inconsistent and not widespread.

Moving on to the Horizon activity from Near Social graph, we can see that social transactions exhibit a relatively stable pattern but with constant ups and downs. This suggests that social transactions conducted through Horizon maintain a consistent level of activity but experience fluctuations in volume over time.

Similarly, when analyzing the Horizon transactions and PCG social Horizon graphs, we find that they also display an unstable trend. Both graphs exhibit frequent variations and fluctuations in transaction levels. However, there are two significant peaks in the PCG social Horizon graph, surpassing 1k transactions.

Key insights

• The Daily Near Social active users graph demonstrates two significant peaks, indicating fluctuations in user activity. However, the overall trend suggests a decline in active users after the peaks.

• In the Daily Near Social transactions graph, there is a stable trend observed since March 2023, with a notable surge in transactions just before this period.

• The Daily Near Social new users graph reveals two significant peaks, highlighting a total of 12.2k new users joining the platform.

• When comparing the Daily Near Social transactions with Profile change and Post, it becomes evident that there are more transactions associated with posts. Furthermore, the Distribution of actions by type indicates a growing importance of the Post action over time.

• The Daily Near Social active users graph exhibits a similar trend, with Post surpassing Profile change in terms of user activity. The Distribution of active users by type also highlights the increasing prominence of Post.

• The Cumulative Retention Rate over time graph shows a significant upward trend since October 2022, particularly in March 2023. This suggests a successful retention strategy implemented by the platform.

• The Returning Users over time graph indicates a fluctuating trend with gradual overall growth, indicating the need for further analysis to identify factors impacting user retention.

• The % social users using Horizon graph indicates an unstable trend, with a maximum of 10 users utilizing the Horizon feature. The adoption of Horizon among social users is inconsistent.

• The Horizon activity from Near Social graph demonstrates relatively stable social transactions but with constant fluctuations. The Horizon transactions and PCG social Horizon graphs also display an unstable pattern, with two notable peaks in transaction volume.

In the Cumulative Retention Rate over time graph, a significant upward trend is observed since October 2022, with a particularly sharp increase in March 2023. This indicates a substantial improvement in retaining users over the specified period. The retention rate measures the percentage of users who continue to engage with the platform over time, and the significant upward trend suggests a successful retention strategy implemented by the platform, especially during the highlighted period.

On the other hand, when examining the Returning Users over time graph, the trend is less clear-cut. It shows a pattern of fluctuation, with continuous ups and downs, although there is a gradual overall growth. This suggests that while the number of returning users may vary from time to time, there is a positive overall trend of increasing returning users.