NEAR Protocol Confidential TVL Surpasses $70M, First Reward Snapshot Executed

NEAR Protocol's Confidential TVL has surpassed $70 million (approximately KRW 959 billion), leading to the execution of the first reward snapshot. AMBCrypto reported on September 18 at 3 a.m. UTC that NEAR's price rose 15% over 24 hours to $2.73, though this figure reflects market analysis rather than confirmed data.

NEAR Protocol announced the first snapshot for its NEAR@3.33 incentive program on September 17 at 11 p.m. KST after Confidential TVL exceeded $70 million. The distribution amount is 333,333 tokens, available for claim via near.com. Unlike standard airdrops, this reward requires users to maintain over $100 in Confidential balance with at least one Confidential Swap history, and each wallet can receive up to 2% of the total allocation.

The conversion of reward tokens into NEAR requires the protocol's volume-weighted average price (VWAP) to remain above $3.33 for three consecutive days. This $3.33 figure is a program condition, not a target price. Confidential TVL refers to locked value tied to Confidential Intents, which keep transaction details private from public mempool.

AMBCrypto reported Confidential TVL reached $70.79 million (approximately KRW 970 billion) post-snapshot, while NEAR Protocol's dashboard shows Confidential pool TVL at $169.05 million (approximately KRW 231.6 billion). The discrepancy stems from different reporting times and scopes. The dashboard also listed a 30-day total fee of approximately $5.19 million (KRW 710 million) and net revenue of about $1.66 million (KRW 230 million), though these figures reflect overall protocol activity rather than direct price movement.

CoinMarketCap's AI analysis cited the incentive program and social media growth as factors behind NEAR's September 16 price rise, but this automated report should be distinguished from expert analysis. Community reactions on Reddit from June, when the program was first announced, were limited to 14 votes and do not represent current market sentiment.