NEAR Protocol’s Confidential Intents service had $160 million in value locked at Sept. 30, while the broader NEAR Intents platform processed $10.4 billion in third-quarter transactions, Nansen reported.
The figures cover different activity. The $160 million is a snapshot of assets held in Confidential Intents at quarter-end; the $10.4 billion counts transactions handled across the wider platform from July through September. Nansen said the service’s balance rose about 463% from the previous quarter.
NEAR made Confidential Intents available to outside developers in July. The project says it supports transactions across blockchains while keeping information such as order size and counterparties from public view. NEAR has said that visible trading details can reveal users’ intentions, and compared the privacy use case with dark pools in equity markets.
Nansen reported that cumulative fees for NEAR Intents exceeded $52 million. NEAR had captured more than $8 million for buybacks of the NEAR Protocol (NEAR) token. That figure tracks funds captured for the purpose; it does not show how much had gone toward completed purchases.
NEAR Intents released a postmortem on Oct. 16, before Nansen published its quarter-end figures on Oct. 20. The postmortem said a contract flaw enabled about $3.8 million in withdrawals and that the funds were recovered within 36 hours of discovery, as described in earlier coverage of the security incident.
Nansen identified sustained transaction volume and fee capture as indicators to watch in the fourth quarter.
