Near Protocol announces a $350M grant

Hey guys, near protocol just announced a $350M grant for DeFi projects.

What's my take on this?

Dubbed as the educational arm of ETH, NEAR protocol just announced a whopping $350M grant. Before I go further explaining about near, I kinda wanna let that sink in.

$350M is insane, Avax has $180M, CELO has $100M, NEAR is way ahead of the curve and outstripping all of its competitors in that regard.Now when it comes to tech, Near has sharding - made possible via its nightshade. That’s something that ETH 2.0 will have. It has its rainbow bridge to serve as interoperable between ETH and NEAR. Moreover. Its TX fees are insane. I made a transaction on the protocol and the fees are like in fractions of cents. YES, THAT’S RIGHT! Meanwhile the fees on eth are like $100 ish with ETH hitting new ATHs.With the $350M grant, I kinda hope that its DeFi scales up. The only DEX to receive grants that I currently know of is REF but hopefully that should accelerate DeFi adoption on it, once that happens NEAR should gain a ton of traction.

Although it’s $4B in market cap, it’s EVM compatible with ETH and is a protocol that is primed to become a key layer-1 blockchain for DeFi applications.

Kinda optimistic to see what happens with Near since it has features (like POS mechanisms, sharding, etc) that ETH 2.0 will have. The prominence it gains will reflect that for ETH the traction it could potentially get.