The protocol experienced an ebb and flow period in the last quarter. The revenue, TVL, and base layer were also affected by certain unexpected incidents.
Although NEAR had not fully recovered from the slump, protocols including Burrow and Orderly Network attracted substantial interest in Q2 to ensure that the TVL does not drop more than it had. Messari’s report explained,
Meanwhile, the adoption of NEAR soared within the same period, thanks to its Blockchain Operating System launched in March.NEAR created the BOS as an open-source platform. This was to enable developers to build on any blockchain irrespective of whether they use web2 or web3 networks. This increase suggests that the BOS use case was widely adopted. As a result, accounts on NEAR Social, the social base layer of the BOS, grew to 15,000 within four months. The report pointed out,
This was a significant hike from the number in Q1. However, the new addresses did not follow suit, falling by 19% from the previous quarter.Also, NEAR, known for its input in the NFT and gaming sector, maintained a downtrend in this regard.
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