Good day community,
I would like to get an idea of the state of Defi on NEAR. Ideally i would like to speak to someone at proximity to gte a good overview and breadth of whats going on. I have alot of questions like
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How many defi projects are currently building on NEAR?
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is there alot of interest from groups to build DEFI on NEAR?
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an opinion about the quality of the projects and their teams currently building?
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Whats missing, whats being addressed and what is not being addressed?
Etc…
The reason being im in discussions with an incredible gaming project i wish to help bring in to the ecosystem, but their requirements is an evolving and flourishing DEFI ecosystem. Of course it doesnt need to be in place now, but i still need to understand where we are at, and where we are heading.
Id love to hear honest and genuine community opinions about this as well.
I am aware of awesomenear.com, but what i really want is insight & opinions from people.
Thank you for your time!
2 Likes
Howdyyyy ser, well as a degen who stay quite up-to-date with the NEAR/Aurora eco, here is some of my thought about your questions :
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There are about 70 projects running ( there is more on that on the Awesome NEAR Map, but let just take the number down since some projects are not yet running)
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Yes there is interest to build on the Aurora/NEAR ecosystem, mostly in the form of direct incentivize to bootstrap in the form of Aurora/NEAR/Proximity grant, i.e if you think your gaming project has what it takes why not try to reach out for a grant, they literally paid u grant to build lol=)))
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Quality of the project can be ranging as well, some projects are like “meh” (pardon me but I won’t call them out directly) while some projects can be extraordinary, just by looking at Aurora TVL - DefiLlama u will see which is which. For NEAR there is coding barrier IMO, so the number of project running on NEAR is less sinigficant than Aurora but IMO all seem to be align with my expectation( or im just a NEAR maxi lol)
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This is what im seeing on both Aurora/NEAR : There are enough protocols for DEXs, Lendings, launchpads, and bridges IMO, if there is anything missing I think it would be a. stablecoins - smt that can support Aurora/NEAR network and can be traded on CEX would be ideal
b. hedging tools like deriviates/future/options (this is ongoing with Thetanuts, Ribbon, Spin.fi and others
jumping in )
c. Solid asset management platforms, earlier attempts on onboarding multichain protocols doesn’t do much IMO, need something native build
d. some next step innovation apart from normal DEX (maybe a farming-as-a-service protocols or leveraged yield farming like https://pembrock.finance/#community or just an auto-compounder sit on top of Ref and NEAR network would be neat, i saw one already but only the testnet website nothing else lol https://staging.fluxus.finance/
Hopes some of my thoughts can help u come up with your decision ser^^
3 Likes
Brother Larry,
Thank you so much for taking the time to let me know your thoughts about Defi on NEAR.
They we’re very informative.
One thing i do notice is how many of the defi projects are on Aurora.
I am curious. For projects building directly onto NEAR, lets say a gaming platform/ metaverse etc…
Is it efficient to use the Dapps built on Aurora if i’m really a NEAR native app? Would it be better to use Defi built on NEAR and not Defi built on Aurora?
I appreciate you taking the time
Hmm full disclosure i more like a degen and less like a developer, so I’m afraid I’m not a good pick to ask about the comparison between NEAR an Aurora Dapps
All I know is the Aurora projects is built-in Solidity code- which is easier to build and run since u can fork the code from ETH projects, but for the NEAR Rust it’s longer to build, and not many developers willing to learn a new language as well
I think this might be up for the dev of NEAR/Aurora to answer for u, i think u can track them down on the Discord server: NEAR sub channel: dev-support might be the lead
cool thanks for the thoughts LarryLang