NEAR Protocol enabled private perpetual futures by default on September 17, routing all deposits through a confidential layer that masks positions. The feature is powered by Hyperliquid's infrastructure and represents the industry's first 'confidential by default' perpetuals trading.
Illia Polosukhin, co-founder of NEAR Protocol, has proposed creating a protocol sovereign fund seeded with approximately 30 million NEAR tokens (valued between $57-450 million) to generate yield for network operations and potentially reduce token inflation. The fund would consolidate treasury assets and use protocol revenue to support validators, security, and public goods.
BitMEX co-founder Arthur Hayes disclosed he sold his complete positions in Hyperliquid (HYPE) and Near Protocol (NEAR), warning that financial markets could be approaching a major top ahead of AI IPOs and U.S. midterm elections. The move came days after Hayes made a $100,000 public bet on HYPE.
NEAR Protocol plans to launch a post-quantum-safe signing testnet in Q2 2026 using FIPS-204 standard, allowing users to rotate keys to quantum-resistant alternatives. The announcement comes as Project Eleven warns quantum computing threatens blockchains, banking systems, and digital infrastructure, with concerns that Bitcoin may face challenges in quantum migration.
DeFi protocol Rhea Finance on NEAR was exploited for $18.4 million through deliberately constructed swap routes and fake token contracts, with losses more than doubling initial estimates of $7.6 million.
