Value capture
What Intents volume turns into for the NEAR token, and what it would take to matter.
Net swap volume
$1.30B
2026-09-29 → 2026-10-28
Implied confidential
35%
2026-09-29 → 2026-10-28
Revenue / yr
$26.2M
2026-09-29 → 2026-10-28
Buyback yield / yr
0.43%
2026-09-29 → 2026-10-28
Gas burned / yr
$118k
2026-09-29 → 2026-10-28
Try your own assumptions
Starts at what the data shows today. Move a slider to stress-test the conclusion; the link in your address bar keeps your settings.
Annual buyback$26.2M
% of market cap0.43%
Volume for 2% of mcap4.7×
Volume for 5% of mcap12×
Source: same formula as pipeline/model.py. Today’s values: $26.2M annualized captured revenue, market cap $6.11B at $4.66. Multiples are assumptions, not forecasts.
What volume would it take?
Window 2026-09-29 → 2026-10-28. Gross fees 15.9 bps of reported volume; NEAR captures 34% (5.4 bps). Annual buyback if volume and take rate scale as shown, with market cap held at today’s.
| Take rate case | Volume vs now | Take (bps) | Annual buyback | % of mcap |
|---|---|---|---|---|
| current observed | 0.5× | 5.4 | $13.1M | 0.21% |
| current observed | 1× | 5.4 | $26.2M | 0.43% |
| current observed | 2× | 5.4 | $52.3M | 0.86% |
| current observed | 5× | 5.4 | $130.8M | 2.14% |
| current observed | 10× | 5.4 | $261.6M | 4.28% |
| half of observed | 0.5× | 2.7 | $6.5M | 0.11% |
| half of observed | 1× | 2.7 | $13.1M | 0.21% |
| half of observed | 2× | 2.7 | $26.2M | 0.43% |
| half of observed | 5× | 2.7 | $65.4M | 1.07% |
| half of observed | 10× | 2.7 | $130.8M | 2.14% |
| double observed | 0.5× | 10.8 | $26.2M | 0.43% |
| double observed | 1× | 10.8 | $52.3M | 0.86% |
| double observed | 2× | 10.8 | $104.6M | 1.71% |
| double observed | 5× | 10.8 | $261.6M | 4.28% |
| double observed | 10× | 10.8 | $523.2M | 8.57% |
Source: pipeline/model.py. Observed inputs are computed; multiples are assumptions in data/reference/model_assumptions.json.