- NEAR Protocol launches a privacy-focused Solana deposit service through Kamino.
- Users can earn yield without disclosing wallet addresses or locking up funds.
NEAR Protocol has launched a privacy-focused service that lets users deposit Solana (SOL) and earn yield without publicly disclosing their wallet addresses. The new feature connects deposits to Kamino, a decentralized finance (DeFi) platform on Solana, while allowing users to retain control over their funds.
NEAR Protocol Brings Wallet Privacy to Solana Deposits
NEAR Protocol announced the service on October 16 through its official X account. The launch gives Solana holders a way to access yield opportunities without exposing their wallet addresses externally during the deposit process.
The service manages deposited SOL through Kamino, which operates within the Solana DeFi ecosystem. By combining yield opportunities with privacy features, NEAR aims to make DeFi more accessible to users who want to limit the public exposure of their wallet information.
Public blockchains let people track transactions and monitor wallet activity, raising privacy concerns. NEAR’s new service protects users’ privacy by preventing the deposit service from disclosing their wallet addresses externally.
No Mandatory Lock-Up Period for SOL Holders
The new service does not require users to lock up their Solana holdings for a fixed period. Users can swap their assets or transfer them to another wallet at any time.
This flexibility allows depositors to respond to changing market conditions without waiting for a lock-up period to end. It may also appeal to SOL holders who want to explore DeFi yield opportunities while retaining access to their assets.
However, the service’s privacy features do not necessarily make every transaction anonymous. Deposits are managed through Kamino, and users should understand the platform’s terms and the limits of the privacy protections offered.
Solana Price Outlook Remains Uncertain
Despite the potential benefits of the new service, Solana’s near-term price outlook remains mixed. The supplied market analysis places SOL’s RSI at 28.66, indicating oversold conditions, while its bearish MACD reading points to continued selling pressure.
The analysis identifies $106 as an important level for a potential recovery. A move above that price could open the way toward $109–$114, while a failure to recover could expose SOL to declines toward $101 and $96.
For the medium term, holding $109 could support a recovery toward $118–$122. A failure to stabilize could instead send the price below $100, with $92–$96 identified as a potential downside range.
The longer-term outlook is more positive in the supplied forecast, which identifies a break above $122 as a possible trigger for a move toward $130–$138. However, broader weakness across altcoins and Bitcoin’s market dominance could limit gains.
NEAR’s New Service Could Expand Solana DeFi Access
NEAR Protocol’s privacy-focused deposit service adds another option for SOL holders seeking yield opportunities without publicly disclosing their wallet addresses through the deposit process. Its integration with Kamino and lack of a mandatory lock-up period could attract users who value both flexibility and greater privacy.
The service’s broader impact will depend on user adoption and whether it attracts additional capital into Solana’s DeFi ecosystem. While the launch introduces a new use case for NEAR’s privacy-focused approach, its effect on SOL’s price remains uncertain.
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