NEAR Chain TVL Stands at $244 Million Amid Privacy Criticism

NEAR Protocol’s chain total value locked (TVL) stood at $244 million, including $171 million in Confidential Intents, while the entire Internet Computer (ICP) ecosystem held about $12 million.

The figures cover different scopes: NEAR’s is chain-wide, while ICP’s spans its full ecosystem. Confidential Intents’ balance reflects assets held in that product and is separate from transaction volume across the broader NEAR Intents service.

Confidential Intents’ TVL grew 6.4-fold since June, with incentives contributing to part of the increase. NEAR’s market capitalization was about 25 times its TVL, compared with about 100 times for ICP.

Dom, the ICP founder, criticized NEAR’s confidentiality model and raised concerns about vetKeys. The trust model discussed includes a private shard, permissioned validators and a trusted execution environment bridge. NEAR outlined the permissioned shard and bridge at launch in February.

Dom previously accused NEAR of using technology licensed only for ICP without permission, a claim covered in the earlier dispute over licensed technology.