With ETH at new highs, I’ve been looking at activity across other ecosystems - @NEARProtocol being one of them. Recently, @rhea_finance launched its token, so here’s a quick look:
📜 @rhea_finance is one of Near's flagship protocols evolved from Ref Finance and Burrow. The $RHEA token centers on chain abstraction and cross-chain composability - swaps, lending, yield, and BTC-native vaults - all accessible with NEAR or EVM wallets.
Some notable changes:
🔒 xRHEA staking → token alignment
⚡ oRHEA incentives → tied to actual usage
🌉 Cross-chain LSTs → portable liquidity
₿ BTC-native vaults → filled almost instantly
📊 Current stats show some traction:
~$260M TVL
~$125M daily DEX volume
- 1.0 capital efficiency (above many DEXs)
- Supported by NEAR’s $700M+ stablecoin supply (majority flows through Rhea)
- Listed on Binance Alpha, Gate, MEXC, LBank, Bitget (still upside to land a T1)
I think RHEA could be an interesting proxy for NEAR - as one of the chain’s core DeFi platforms. Worth keeping tabs on.
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