NEAR Protocol: What is it? – What Reddit is Saying

NEAR Protocol: Hype Train or Highway to Hell?

So, NEAR Protocol's Intent layer is supposedly raking in the dough – almost $4 billion in trading volume. Big deal. Anyone remember 2017? Every other project was "revolutionizing" something. This feels like the same song, different verse. And "what is near protocol" anyway? Another blockchain promising the moon?

The claim is that this Intent layer automates on-chain swaps. Okay, fine. But who actually benefits? Are regular users seeing lower fees, or is this just another way for whales to skim off the top? I see these headlines about "increased adoption," but I'm always left wondering...adoption by whom?

Breakout Rally? More Like Breakout of My Patience

They're touting a "breakout rally" because NEAR broke out of a "descending channel." Oh, the suspense! Look, I've seen more convincing breakouts from my local prison. And the retail interest is "increasing?" Please. That Coinglass data showing futures Open Interest (OI) up by 65%? That just means more suckers are piling in, ready to get rekt when the inevitable correction hits.

And the technical indicators? RSI above 50? MACD crossing the signal line? Give me a break. You can find any indicator to support your narrative if you squint hard enough. It's like reading tea leaves, only the tea is made of crypto hopium.

The "Most Potential" List: A Who's Who of Maybe

Now I'm reading that NEAR is on some "Top Crypto With Most Potential" list alongside BlockDAG, SEI, and OKB. 4 Top Crypto With Most Potential: BlockDAG, SEI, Near Protocol, and OKB Set New Growth Benchmarks BlockDAG with its $435 million presale? Sounds like a Ponzi scheme with extra steps. SEI focused on "speed and market structure?" So basically, they're trying to make trading faster for the bots. And OKB, the exchange token? Please, that's just a loyalty program disguised as crypto.

Near Protocol is cutting inflation, supposedly good for the token's price. But didn't the community initially reject this change? So much for decentralization. Plus, they got some "major partnership" with OceanPal Inc. to build a confidential AI cloud. $120 million committed, using up to 10% of NEAR's supply... It all sounds great on paper, but I'll believe it when I see it.

Here's a thought: what if all these "innovations" are just distractions from the fact that most of these projects don't actually do anything useful?

The Validator Revolt: Follow the Money

Ah, here's where it gets interesting. Validators are voting on halving network rewards, and some are pissed. Chorus One is calling it a "serious governance issue." Translation: "We're losing money!"

Offcourse, no one likes getting their income cut in half. But let's be real: these validators aren't in it for the love of decentralization. They're in it for the profits. So, should we trust their judgment when their own wallets are on the line?

This whole situation reminds me of the California Gold Rush. Everyone rushed in, hoping to strike it rich. A few made a killing, but most ended up broke and disillusioned. I suspect the same thing will happen with crypto.

Then again, maybe I'm just too cynical. Maybe NEAR Protocol really is the future. Maybe this Intent layer will revolutionize finance. Maybe pigs will fly.

This Ain't No Revolution, Just Another Hustle