NEAR has surpassed $70 million in confidential total value locked, automatically triggering the first snapshot under its [email protected] incentive program and setting aside 333,333 milestone tokens for eligible users.
Summary
- NEAR’s confidential TVL has crossed $70 million, triggering the first snapshot under the [email protected] incentive program.
- The snapshot allocates 333,333 milestone tokens to eligible users who maintain more than $100 in confidential balances and have an active swap history.
- Rewards remain locked until NEAR’s three day VWAP reaches at least $3.33, while individual wallets are capped at 2% of the distribution.
- Confidential Intents currently supports private execution across more than 30 connected blockchains.
According to a Sept. 17 announcement from NEAR shared with crypto.news, the milestone was reached through Confidential Intents, its private execution system for cross chain transactions, with the snapshot determining eligibility for the first reward distribution.
Users who qualify for the first drop must maintain more than $100 in confidential balances and have an active swap history. The milestone tokens will remain locked until NEAR’s three day volume weighted average price reaches at least $3.33, when they can convert into NEAR.
The incentive program places a 2% cap on the amount that can be allocated to any single wallet. NEAR said the restriction is intended to limit concentration and spread the distribution across more participants.
NEAR confidential TVL triggers first token snapshot
Confidential Intents routes transactions through a private NEAR shard, which NEAR says removes transactions from public mempool exposure and protects users from front running, strategy leakage and other forms of maximal extractable value.
The system is designed to provide confidential execution without relying on the computational requirements associated with zero knowledge systems, according to NEAR. Its confidential liquidity can be used for high volume swaps across connected blockchains without publicly linking the activity to the party behind the transaction.
Live data cited by NEAR showed confidential TVL crossing the $70 million threshold required for the first phase of the [email protected] program. Independent NEAR Intents tracking data showed the figure at approximately $70.8 million on Sept. 17.
Alex Shevchenko, general manager of NEAR Intents, said the growth showed demand for confidential execution was extending beyond a specialized segment of the market.
“Confidentiality is quickly becoming a core requirement for the industry, and NEAR is becoming the rail to make it the new default,” Shevchenko said.
He said combining cross chain liquidity with protection against front running, strategy leakage and other forms of MEV gives institutions and decentralized finance users a way to transact at scale while retaining privacy.
The $70 million threshold closes the first phase of the [email protected] campaign. NEAR said Confidential Intents currently supports execution across more than 30 connected blockchains.
NEAR Intents expands cross chain infrastructure
NEAR has been building Intents as an abstraction layer for transactions that move across different blockchain networks. Instead of requiring a user or application to manually determine how a transaction should move between chains, users specify the intended outcome and solvers compete to execute it.
As crypto.news previously reported, NEAR has positioned Intents as part of its infrastructure for autonomous AI agents that may need to transact across several blockchains without separately managing assets and transaction routes on each network.
By June, cumulative fees generated by NEAR Intents had surpassed $35.4 million, while average daily fees during that month were above $125,000. The protocol has connected the system with its plan to provide a common settlement layer for cross chain activity and software agents.
Confidential Intents extends that system by placing privacy around execution. NEAR has developed the feature alongside other privacy tools for areas including onchain treasury management, payroll, multisig operations and balance management.
The network’s cross chain infrastructure has continued to gain integrations. An Aptos integration with NEAR Intents gave users access to one click transfers involving assets such as Bitcoin, Ethereum and XRP across more than 20 blockchains. Developers were given access through the 1 Click Swap API, which allows applications to integrate Intents without requiring users to manually operate bridges.
NEAR has tied the infrastructure to its work around AI agents, where software may need to execute payments or trades without manually navigating individual blockchain networks.
Confidential execution fits into NEAR’s AI strategy
Privacy has become part of NEAR’s push to build infrastructure for autonomous agents. The network argues that software handling payments, trading strategies and other financial activity may need to keep transaction details or user information from becoming publicly visible.
In July, NEAR introduced a staking based AI payment system that lets users lock NEAR to receive monthly compute credits for its AI platform. The tokens are not spent and can be recovered when users unstake them.
At launch, the mechanism covered 43 AI models available through NEAR AI, including models from OpenAI, Anthropic and Google. NEAR said users could access confidential AI inference and hosted autonomous agents without providing a credit card or maintaining a conventional cloud billing account.
The protocol has separately introduced automatic anonymization for personally identifiable information contained in prompts sent to closed AI models. NEAR said the system removes sensitive information before prompts reach external inference infrastructure.
A network upgrade released in June introduced dynamic resharding, allowing blockchain capacity to adjust as transaction demand changes. The same release introduced post quantum secure signatures, giving u
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