After reading a few stories about Near: Native, how did they bring them together in a closed loop Near Intents， It has already begun to take shape with a cumulative trading volume of 19 billion, with the intention of cross chain interaction. Compared to L0, I personally feel that it is the upper layer of traditional bridges, closer to chain abstraction. It is worth mentioning that Confidential Intent has been launched, which has once again taken up the concept of privacy. Enable agents to use Intents and launch the AI Agent Market. Agents can independently trade tasks and services, and pay with Intents. It echoes Intents and adds another layer of AI privacy concept. Dynamic sharding, a technological upgrade, has the most direct effect of improving throughput. The official statement is specifically prepared for large-scale transactions and on chain activities by AI agents. At this point, the basic three axes are closed to each other. Near is now strongly packaging itself as "AI Native Layer 1", and this narrative Grayscale and Bitwise seem to have entered the game. Grayscale has listed NEAR as its largest position in its decentralized AI fund, and recently Arthur Hayes has also started calling for orders. From the perspective of the on chain situation, the TVL of the Near ecosystem is highly concentrated, with over 90% of it being on the Rhea Finance project. Aixbt questions whether 93.6% of its transaction volume comes from only two entities, which is very concentrated. But I haven't found any data yet, that's not the most important thing. I think whether the momentum of Near can be sustained depends on the amount of intent transactions brought by AI agents, whether they can truly be implemented on a large scale, and generate sustainable fee income. If it is still the traditional L1 upper set, then this price will be greatly discounted.