NEAR Protocol said on Sept. 21 that NEAR’s volume-weighted average price, or VWAP, held at $3.33 for three straight days, meeting the condition required to convert milestone rewards into tradable NEAR. The team said the relevant rewards have already been converted and distributed, and users can check their accounts for allocations.
Under the project’s published rules, the first batch included 333,333 non-transferable milestone tokens. The snapshot that triggered those tokens required Confidential Intents TVL to reach $70 million. Those milestone tokens could only become tradable NEAR after NEAR’s three-day VWAP reached or exceeded $3.33.
The eligibility requirements also set user-level thresholds. Participants needed to maintain more than $100 in private balance on near.com and complete at least one private swap. The update confirms that the price condition has now been satisfied and that distribution has been processed for qualifying users.
NEAR Protocol said on Sept. 21 that NEAR’s volume-weighted average price (VWAP) stayed at $3.33 for three consecutive days, satisfying the condition tied to a reward conversion program. The project said the related NEAR rewards have already been converted and distributed, and users can check their accounts.
Price threshold for milestone conversion was reached
According to the official rules, the team’s first distribution involved 333,333 non-transferable milestone tokens. The snapshot condition for that batch was tied to Confidential Intents total value locked (TVL) reaching $70 million.
Those milestone tokens were designed to convert into tradable NEAR only after NEAR’s three-day VWAP reached or exceeded $3.33. NEAR Protocol said that requirement has now been met for three days in a row.
User eligibility requirements
The rules also said users needed to maintain more than $100 in private balance on near.com and complete at least one private swap to qualify.
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