NEAR Confidential TVL Passes $70 Million, Triggering First [email protected] Incentive Snapshot

NEAR announced that its confidential TVL has crossed the $70 million threshold, activating the first snapshot of the [email protected] incentive program. The snapshot will allocate 333,333 milestone tokens to users who meet the eligibility criteria.

Eligibility and Reward Mechanics

To qualify for the first token drop, users must maintain more than $100 in confidential balances and have an active swap history. Rewards remain locked until NEAR’s three‑day volume‑weighted average price (VWAP) reaches at least $3.33. Each wallet can receive a maximum of 2 % of the total distribution to limit concentration.

Confidential Intents Overview

Confidential Intents, NEAR’s private execution layer, routes cross‑chain transactions through a private shard, removing them from the public mempool and protecting against front‑running, strategy leakage, and other forms of maximal extractable value (MEV). The system provides confidential execution without the heavy computational demands of zero‑knowledge proofs and supports private liquidity for high‑volume swaps across more than 30 connected blockchains.

Program Milestones

• Confidential TVL reached approximately $70.8 million on September 17, according to NEAR’s internal data.
• The $70 million threshold closes the first phase of the [email protected] campaign.
• Milestone tokens will convert to NEAR once the three‑day VWAP hits $3.33.

Broader Infrastructure Developments

NEAR Intents, the abstraction layer for cross‑chain transactions, has generated over $35.4 million in cumulative fees, with daily fees exceeding $125,000 in June. Recent integrations include a one‑click swap API with Aptos, enabling transfers of assets such as Bitcoin, Ethereum, and XRP across more than 20 blockchains.

Privacy Strategy and AI Integration

NEAR positions confidential execution as a core component of its infrastructure for autonomous AI agents, allowing software to transact across multiple blockchains without exposing transaction details. The network also introduced a staking‑based AI payment system and automatic anonymization of personally identifiable information in AI prompts.