At the end of Q2 2023, the Near Protocol (NEAR) treasury wasreduce$900 million down to $900 million, the result of a drop in the price of the NEAR token from $1.99 to $1.38.
As of July 10, the Near Treasury currently comprises $349 million in fiat currency, $315 million in NEAR, and $90 million in loans and investments. A net total of $16 million and $1 million of NEAR were distributed to the ecosystem in Q2. By comparison, the Near Treasury totaled $1.1 billion in Q1 2023.
The Near developers also noted that In the face of industry backlash, such as the US Securities and Exchange Commission’s lawsuits against Binance and Coinbase, the Near Foundation shifted its focus to three key strategies:
- Improvements to the Blockchain Operating System
- Continuously building a decentralized ecosystem
- Onboarding Web2 users to Web3
Through Q2, Near’s ecosystem had 1.1 million active accounts per month. And in Q3, the Near team says it will focus on expanding collaboration and supporting projects in the Near Horizon ecosystem.
Earlier in Q4 2021, Near Protocol established an $800 million ecosystem fund comprised of a decentralized finance grant, a foundation grant, a startup fund, and a regional hub fund.
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