NEAR’s Confidential Intents hits $70M TVL, triggering NEAR@3.33 reward program

NEAR’s privacy-focused swap product, Confidential Intents, crossed $70 million in total value locked on September 17, automatically triggering the first reward snapshot of a new token incentive program called NEAR@3.33, according to a NEAR-issued release distributed via PR Newswire.

• Eligibility requires a confidential balance over $100 and an active swap history on near.com
• A 2% per-wallet cap is built in to prevent any single holder from concentrating the reward pool
• Conversion is locked until NEAR’s three-day volume-weighted average price reaches $3.33 or higher, tying the payout to sustained price performance rather than the TVL milestone alone

• $70M Confidential Intents TVL that triggered the snapshot
• 333,333 milestone tokens unlocked in Drop 1
• $3.33 three-day VWAP required before tokens convert to NEAR

The milestone unlocks 333,333 tokens for eligible participants, but those tokens do not convert into spendable NEAR right away. NEAR is currently trading above the $3.33 threshold, though the program requires that level to hold as a three-day average, not just a momentary spot price.

A Reward Gated on Both Usage and Price

The structure is unusual in that it stacks two separate conditions. Reaching the milestone required genuine product usage, real deposits into Confidential Intents crossing the $70 million line, while the payout itself is withheld until the token clears a specific price bar for three consecutive days. That design ties the reward closer to durable price strength than to a single trigger, though it also means eligible users who already qualify for Drop 1 have no guaranteed timeline for when, or whether, their tokens convert.

Alex Shevchenko, GM of NEAR Intents, framed the milestone as part of a broader industry shift: “Confidentiality is quickly becoming a core requirement for the industry, and NEAR is becoming the rail to make it the new default.”

Part of NEAR’s Broader Privacy and Payments Push

NEAR@3.33 follows NEAR AI’s general availability launch of Confidential Intents’ underlying confidential execution infrastructure earlier this year, and comes days after NEAR Foundation joined the x402 Foundation to help build open payment standards for AI agents. Together, the moves point to a 2026 strategy centered on privacy-preserving infrastructure as NEAR’s core institutional pitch, rather than throughput or fees alone.

The CCS read: Gating token conversion on a sustained price average rather than the TVL trigger alone is a deliberate anti-dump design, but it also means Drop 1 recipients are effectively speculating on NEAR holding $3.33 for three straight days before they see anything spendable.

Watch NEAR’s three-day VWAP over the coming sessions. NEAR has not disclosed how many wallets currently qualify for Drop 1, or whether additional TVL milestones and drops are planned beyond this first one.