Rhea (RHEA) Briefing — The First Binance Alpha Project in the NEAR Ecosystem
On July 30, Rhea (RHEA) will officially launch on Binance Alpha.
Notably, it is the first Alpha project in the NEAR ecosystem.
🔍 Overview of the Rhea Project
Rhea is a decentralized finance (DeFi) platform based on chain abstraction, deployed on the NEAR protocol, aiming to provide seamless financial services through cross-chain technology.
Main Uses:
Seamless cross-chain financial services (trading, lending, leverage)
Unified account experience (no need for frequent chain switching or signatures)
High efficiency + low-cost interactions (relying on NEAR's asynchronous architecture)
📌 Recent Progress of Rhea
✅ On July 20, Rhea launched its largest UI upgrade, integrating four core modules (Swap, Lend, Leverage, Bridge)
✅ On July 21, launched the $REF, $BRRR → $RHEA conversion channel, supporting different lock-up periods
✅ On July 30, Alpha will go live, starting the RHEA airdrop redemption.
Currently, the basic DeFi functions have been launched, with more advanced financial products to be gradually introduced after TGE.
📈 Recent Data Performance of Rhea
Monthly Trading Volume: $1.6 billion (mid-July statistics)
Total Lending Volume: $330 million (of which NEAR accounts for $11 million)
20-week lock-up pool: fully filled within 3 hours
10-week lock-up pool: queued immediately after opening
In July, there was a trading volume of $1.6 billion, and the lending market also had a TVL of $330 million. Among them, NEAR-related assets accounted for $11 million, making it one of the standout projects in the NEAR ecosystem.
🚨 Rhea Token Model
Total Supply: 1 billion tokens
Unlocking Mechanism: Three years of linear release, ensuring long-term controllable supply
Airdrop Distribution: 4% Season 1 has been distributed, 6% for subsequent activities
Application Scenarios: Fee discounts, functional permissions, governance, etc.
The remaining token distribution of Rhea has not yet been clearly announced, with $5 million raised in the seed round.
🔥 Rhea Financing Institutions
Established VCs including Dragonfly, ParaFi Capital, Lemniscap, D1 Ventures, Jump Crypto, QCP Capital, DeFi Capital, GFS Ventures, MOVE Capital participated in the $5 million seed round.
Rhea is the litmus test for DeFi on NEAR, and Alpha is Binance's traffic accelerator. The launch of Rhea is not just a trial for the NEAR ecosystem, but also a typical layout for Binance Alpha in exploring new chains and narratives. Hope this round of airdrops will be a big success, and wish everyone good fortune!
