NEAR Protocol launched a confidential perpetual futures trading product on September 17, 2026. The platform integrates the Confidential Intents privacy layer with the Hyperliquid execution engine. This setup allows for up to 40x leverage across more than 50 markets while keeping participant data private.
Following the launch, the price of the NEAR token increased from approximately $2.34 to $3.60, marking a rise of over 80%. The company's market capitalization grew from $3.2 billion to $4.46 billion. Daily trading volume rose by 120%, exceeding $1.24 billion.
The total value locked in the Confidential Intents layer reached $70 million. This milestone activated the NEAR 3.33 incentive program designed to boost user adoption. The system supports funding from assets across more than 35 blockchains, enabling cross-chain margin swaps without centralized exchanges.
The product is currently unavailable to users in the United States and several other jurisdictions. While order books remain public to ensure market liquidity, individual deposit and ownership details are processed through a private shard on the NEAR network.
