NEAR Protocol 推出「[email protected]」里程碑空投，幣價、TVL 雙達標才解鎖

According to NEAR Protocol’s official announcement today (11), the new milestone incentive program “[email protected]” has officially gone live. The program addresses the drawback of traditional airdrops that lead to immediate dumping by instead issuing users “locked milestone tokens.” Only when the ecosystem’s total locked value (TVL) and the token price both reach specified dual milestones can the tokens be converted to NEAR tokens 1:1. The first wave of the “Drop 1” airdrop will lock up tokens for compliant users who have used privacy swaps on near.com.
(Background: Arthur Hayes called for the “Holy Trinity Coins,” then liquidated ZEC, NEAR, and WLD)
(Additional background: After liquidating Ethereum holdings, Bankless’ founder announced his latest positions: 50% into $LIT, 50% into VVV, NEAR, ZEC, and HYPE)

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• First wave “Drop 1” airdrop rules: focusing on privacy swap users
• Prevent monopolies through decentralization! Set a 2% cap per single wallet
• Pioneering a new Web3 incentive paradigm, completely bidding farewell to short-sighted point farming

For a long time, traditional Web3 projects’ airdrops (Airdrop) have often come with the curse of “dumping right after listing.” The massive wealth effect is quickly drained after short-term speculators sell off, resulting in a significant drop in community stickiness. To solve this industry pain point, the well-known public chain NEAR Protocol today (11) made a major announcement that it is rolling out a brand-new “Milestone Incentive Program,” codenamed “[email protected].”

The core of this program is to introduce a new mechanism called “Locked milestone tokens,” tightly binding users’ rewards to the protocol’s long-term economic prosperity. The rewards users earn will be in a locked state at the beginning. Only when both the ecosystem’s size of the privacy fund pool and the NEAR token price simultaneously cross specified meaningful growth thresholds can they be unlocked and exchanged 1:1 for the real NEAR tokens.

First wave “Drop 1” airdrop rules: focusing on privacy swap users

According to the official explanation, the program’s first phase “Drop 1” is now officially underway. As long as a user previously used the “Confidential Swap” feature on the official near.com platform, they automatically qualify for allocation in the first round of rewards. The official emphasized that although the tokens have not yet been formally injected into users’ accounts, past on-chain activity will directly determine allocation weights. And even for new users, before the snapshot is executed, they can still amplify their allocation share by increasing their trading activity.

The first-wave token pool will distribute a total of 333,333 milestone tokens, and the mechanism that triggers the snapshot distribution and final unlocking includes strict “dual milestone” restrictions:

• Distribution trigger (TVL milestone): The official will only execute the snapshot and distribute the locked tokens to eligible wallets once the NEAR ecosystem’s total locked value (TVL) for “Confidential Intents” reaches 70,000,000 USD.
• 1:1 unlocking trigger (price milestone): Even after receiving the tokens, users are still unable to transfer or sell them. Only when NEAR’s “Volume-Weighted Average Price (VWAP)” remains at 3.33 USD or above for 3 consecutive trading days will this batch of tokens be truly activated and exchanged 1:1 for freely transferable NEAR tokens.

Prevent monopolies through decentralization! Set a 2% cap per single wallet

To prevent whales from monopolizing token shares and manipulating the market after unlocking, [email protected] has added anti-concentration provisions, limiting any single wallet in that token pool (Drop pool) to a maximum of only 2% of the total.

At the same time, the official also released the minimum baseline threshold for participating in the snapshot: users must maintain at least 100 USD of continuous privacy asset balance on near.com (regardless of token type), and must complete at least one privacy swap. Above this floor threshold, accounts with higher holdings and more frequent privacy interactions will receive a higher proportion of distribution points. Although the components of the points formula are publicly disclosed, the specific weight allocation remains confidential to prevent malicious point-farming by “scientists” or robots.

Pioneering a new Web3 incentive paradigm, completely bidding farewell to short-sighted point farming

NEAR’s official statement says that [email protected]’s new architecture is fundamentally a collective experiment to change how benefits are distributed in Web3, aiming to pull the industry out of the swamp of short-sighted “point farming” that purely extracts value. Under this new mechanism’s safeguards, no single whale can cash out early through manipulation. Everyone can only grow the privacy fund pool together (bringing stronger privacy), increase the overall privacy protection strength, and work together to push up the NEAR coin price—achieving a collective win-win.

What’s worth expecting is that this milestone program is definitely not a one-time deal. The official revealed that the “Round 2” drops are already in the preparation stage. In the future, as ecosystem conditions gradually approach readiness, higher-level incentive waves will be unlocked. However, as the plan advances, future milestones will require higher ecosystem activity, and the eligible qualification floor thresholds for compliance will also be raised. On-chain hunters who intend to participate should arrange their positions early in the privacy intent ecosystem.