Try Quests to earn FLOWNEAR 4 -New and improved transparency report
NEAR
NEAR is a high-performance blockchain built without limits. Designed to be super-fast, incredibly secure, and infinitely scalable.
The NEAR protocol was built by Alexander Skidanov and Illia Polosukhin in 2018, and NEAR crypto is the ecosystem’s native token. The pair initially held roles in companies such as Google, Microsoft and MemSQL before co-founding NEAR Inc. They initially set out working on a machine learning project but slowly pivoted towards blockchain technology.
NEAR Protocol is a decentralized platform where developers can host serverless applications and smart contracts which have easy access to open finance networks and benefit from an ecosystem of open web components. Unlike other blockchain-based platforms, the NEAR Protocol has been built from the ground up to be the easiest in the world for both developers and their end-users.
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==INTRODUCTION==
The NEAR Foundation is committed to providing transparency to the NEAR community. As part of this commitment, the Foundation publishes a Transparency Report each week. However, we want to take this transparency to the next level. How can you help us? We want to challenge you to create a dashboard that goes beyond the existing report. Consider which metrics should be taken into consideration and why. Analyze those metrics over the last several weeks and draw your own conclusions on the health of the NEAR ecosystem.
METHOD
n this dashboard Flipside Near database are used in this dashboard.
bounty asked for data for last several weeks and we have used data from last 30 days for some charts and 100 days .
Main tables that are used in this dashboard are:
1. near.core.ez_dex_swaps
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near.core.ez_nft_mints
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near.core.ez_usn_supply
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near.core.dim_staking_actions
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==SUCCESSFUL VS FAILED TRANSACTION==
ANALYSIS
Previous data’s helps us to calculate, & assume that Staking is the superpower of Near. The total number of stakes was much higher than unstake activities. The daily share of stake transactions is 70-80%, and Unstake transactions are lower than 30%. However, based on stake and unstake volume, the volume was similar. Some times Unstaked volume was higher than the stake, and some time staked volume was higher than the unstaked. Overall, Users staked 80M Near and Unstaked 46M Near. Almost the stake volume is double the Unstaked volume. We have also come to know that the average number of days that users hold their stakes is greater than100 days.
ANALYSIS
The observation of the graph shows that the Nakamoto coefficient of NEAR has been growing up over the past year, starting from a low of 7 and reaching a high of 9. This indicates NEAR is gaining popularity , as more people are investing in the cryptocurrency and its associated products. The increase in the coefficient is also likely due to the increasing quantity of developers and users interacting with the platform, as well as increased public awareness and media coverage. As the platform continues to improve , it is obvious that the Nakamoto coefficient may continue to increase, further representing the growing popularity of NEAR.
ANALYSIS
From the above charts & data provided, it appears that NEAR's smart contract usage is distributed across a variety of applications, with the top four contracts accounting for only a small fraction of total smart contract usage. Despite a recent drop in new contract deployments, the number of daily smart contract interactions has gone high over the past 90 days, suggesting that the network is being used more . This shows developing interest in NEAR and its smart contract capabilities. Additionally, it appears that the majority of interactions are taking place on smaller contracts, suggesting that NEAR is being used for a diverse set of applications and use cases
ANALYSIS
About 87.7% of transactions were successful, and 12.3% failed in the last 100 days, between September and late October, The daily share of Successful transactions was around 90%, but after October, the daily share of Failed transactions increased from 5-10% to 15-20%. After the middle of November, the daily share of successful transactions increased, and failed transactions decreased.
ANALYSIS
Since January of 2022, the highest number of new users can be seen in September, and the highest number of active users was found in October. Only 14 days past from December, But still, we can observe that the total new users on December is more than most of the other months. Also, in The last month, November, About 810K new users joined Near, which is higher than at the beginning of the year.
In the last 100 days, Near chain had 2.1M new users that is fantastic. Also, In the last 100 Users, Near had 160K unique Active users. The highest number of new users joined Near in September. After that time, The total daily number of new users decreased. Also, It seems the activity of Active users decreased too
Note: Months are not arranged in systematic order.
==NEW & ACTIVE USERS==
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FEES
ANALYSIS
It is clearly visible that among these popular chains, Algorand and Ethereum had the highest number of transactions in the last 100 days. Near is in a stable position. The total number of transactions on Near was higher than on Gnosis, Avalanche, and Optimism when we compared them . It was similar to Arbitrum. The total daily number of transactions on Near decreased from 900K to 350K in December. while the total number of transactions on some chains like Flow and Arbitrum has seen an increment .
CONCLUSION
The NEAR Foundation's Transparency Report’s data depicts that the platform is in demand & is becoming popular in usage. The number of active stake pools, the Nakamoto coefficient, and the number of smart contract interactions are all increasing. Additionally, the data suggests that the demand for NFTs on the NEAR platform is growing rapidly, with a large spike in mints and sales in 2021. This data indicates that the NEAR platform is a promising and stable platform that is being used for a variety of applications and use cases, and is having a bright future.
The swap volume from and to Near was similar to each other and didn’t change too much in the last 100 days. Users swapped 89M US dollars to Near and Swapped 92M US dollars from Near. The highest swap volume was in September and over time decreased on both ends .One of the health factors is swapping to a token.
In the last 100 days, many users swapped to Near near than swappers from Near. However, the total daily number of swappers decreased. The total number of unique swappers from Near is 28K, and the swappers to Near is 41K.