Near Protocol's Treasury declined by $200 million quarter-over-quarter due to a decline in the price of tokens.
According to the July 10 report, the Near Treasury currently consists of $349 million in fiat, 315 million NEAR, and $90 million in loans and investments. A net total of $16 million and 1 million NEAR were distributed to the ecosystem in Q2. In comparison, the Near Treasury totaled $1.1 billion in Q1 2023. Developers wrote:
"The NEAR Foundation has continued to adopt a highly responsible approach to treasury management in order to minimize the risk of loss in a turbulent market, while continuing capital deployment to fulfill its mission. Exposure to non-NEAR assets therefore has been limited, with fiat reserves held in highly rated Swiss bank accounts."
Near developers also noted that in the face of industry headwinds, such as the U.S. Securities and Exchange Commission'sEnhancement of its blockchain operating systemNear Protocol's treasury summary in Q2 2023. Throughout Q2, the Near ecosystem saw 1.1 million monthly active accounts. For Q3, the Near team said it would focus on growing partnerships and supporting projects in the Near Horizon ecosystem. Previously in Q4 2021, Near Protocol
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