Hey everyone! As our first public post here, we want to address two things: 📌 Recent events in NEAR DeFi 📌 How the ecosystem is moving forward (and why we're excited!) 1. First, the sudden drop in TVL on Monday. This thread explains what happened: https://twitter.com/pikespeak_ai/status/1643185809296883713 • Alameda, previously inactive since November, withdrew a substantial amount of liquidity from several NEAR and Aurora protocols. The majority of this liquidity was in the dormant USN/USDT pool ($16M) • For NEAR <> stablecoin pairs, liquidity has already begun to recover. And thanks to more efficient pool designs on Ref v2, Arctic, and the orderbook protocols, equivalent liquidity for these pairs is still available on-chain 2. Fortunately, the NEAR ecosystem is well-positioned to move forward Within the next several months, we believe NEAR will have decentralized experiences that truly rival their centralized counterparts. These are the some of the key initiatives Proximity and DeFi teams in the ecosystem are focused on: • Broadly accessible stablecoin on-ramps (more to come soon) • Seamless onboarding for crypto natives and net new users (full MetaMask support, gasless onboarding, walletless onboarding via FastAuth) • Campaigns and programs to increase engagement with NEAR's best-in-class core trader products: Orderly, Tonic, Spin, CellFi, and more • One-stop shop DeFi experiences, powered by BOS • Joint initiatives targeting on-chain traders Stay tuned for DeFi season on NEAR! If you'd like to contribute, please join us in the NEAR DeFi Builder's telegram: http://nearbuilders.com/tg-defi