Transaction Details

API

Overview Execution Plan Enhanced Plan Tree Plan Receipts Summary

Receipt:

GVwZidWNpwxtG4SAuEzsFScqecp9UZg3WndWxtLS2rMU

Status:

Success

Block:

219,872,335

Timestamp:

From:

offchainvm.testnet(ed25519:AaPYDFvbxMWFcfXDw6ZUJA9drktwtFi7euepdqPoFMVA)

To:

c5.offchainvm.testnet

Value:

0.1 Ⓝ

Burnt Gas:

3.149 Tgas

Burnt Tokens:

0.000315 Ⓝ

Actions:

Called method request_execution in contract c5.offchainvm.testnet

{

"input_data": {

"prompt": "What could the NEAR offshore project do?",

"history": [

{

"role": "user",

"content": "Tell me about NEAR"

{

"role": "assistant",

"content": "NEAR is a Layer 1 blockchain..."

}

"model_name": "fireworks::accounts/fireworks/models/gpt-oss-120b",

"openai_endpoint": "https://api.near.ai/v1/chat/completions",

"max_tokens": 16384

"code_source": {

"repo": "https://github.com/zavodil/ai-ark",

"commit": "159f403ff0dadaad432300058b16dfc6860bc696",

"build_target": "wasm32-wasip2"

"secrets_ref": {

"profile": "default",

"account_id": "zavodil2.testnet"

"resource_limits": {

"max_memory_mb": 128,

"max_instructions": 50000000000,

"max_execution_seconds": 60

}

Result:

8ktPwPPhDHHL8RzqhxdJjQVN3AShumUGmCc7vpG4WVCa

Logs:

{  "standard": "near-offshore",  "version": "1.0.0",  "event": "execution_requested",  "data": [    {      "request_data": "{\"request_id\":20,\"sender_id\":\"offchainvm.testnet\",\"code_source\":{\"repo\":\"https://github.com/zavodil/ai-ark\",\"commit\":\"159f403ff0dadaad432300058b16dfc6860bc696\",\"build_target\":\"wasm32-wasip2\"},\"resource_limits\":{\"max_instructions\":50000000000,\"max_memory_mb\":128,\"max_execution_seconds\":60},\"input_data\":\"{\\\"prompt\\\":\\\"What could the NEAR offshore project do?\\\",\\\"history\\\":[{\\\"role\\\":\\\"user\\\",\\\"content\\\":\\\"Tell me about NEAR\\\"},{\\\"role\\\":\\\"assistant\\\",\\\"content\\\":\\\"NEAR is a Layer 1 blockchain...\\\"}],\\\"model_name\\\":\\\"fireworks::accounts/fireworks/models/gpt-oss-120b\\\",\\\"openai_endpoint\\\":\\\"https://api.near.ai/v1/chat/completions\\\",\\\"max_tokens\\\":16384}\",\"secrets_ref\":{\"profile\":\"default\",\"account_id\":\"zavodil2.testnet\"},\"response_format\":\"Text\",\"payment\":\"100000000000000000000000\",\"timestamp\":1761163517903355767}",      "data_id": [        152,        57,        102,        0,        98,        211,        196,        240,        198,        22,        42,        223,        12,        40,        116,        69,        124,        68,        75,        12,        166,        174,        218,        233,        133,        41,        143,        119,        9,        40,        55,        98      ],      "timestamp": 1761163517903355600    }  ]}

Receipt:

8ktPwPPhDHHL8RzqhxdJjQVN3AShumUGmCc7vpG4WVCa

Status:

Success

Block:

219,872,336

Timestamp:

From:

c5.offchainvm.testnet(ed25519:AaPYDFvbxMWFcfXDw6ZUJA9drktwtFi7euepdqPoFMVA)

To:

c5.offchainvm.testnet

Value:

0 Ⓝ

Burnt Gas:

3.638 Tgas

Burnt Tokens:

0.000364 Ⓝ

Actions:

Called method on_execution_response in contract c5.offchainvm.testnet

{

"payment": "100000000000000000000000",

"sender_id": "offchainvm.testnet",

"timestamp": 1761163517903355600,

"input_data": {

"prompt": "What could the NEAR offshore project do?",

"history": [

{

"role": "user",

"content": "Tell me about NEAR"

{

"role": "assistant",

"content": "NEAR is a Layer 1 blockchain..."

}

"model_name": "fireworks::accounts/fireworks/models/gpt-oss-120b",

"openai_endpoint": "https://api.near.ai/v1/chat/completions",

"max_tokens": 16384

"request_id": 20,

"code_source": {

"repo": "https://github.com/zavodil/ai-ark",

"commit": "159f403ff0dadaad432300058b16dfc6860bc696",

"build_target": "wasm32-wasip2"

"secrets_ref": {

"profile": "default",

"account_id": "zavodil2.testnet"

"resource_limits": {

"max_memory_mb": 128,

"max_instructions": 50000000000,

"max_execution_seconds": 60

"response_format": "Text"

}

Result:

"## Quick Overview **NEAR Protocol** is a fast, low‑fee, proof‑of‑stake (PoS) layer‑1 blockchain that’s built for developer friendliness and scalability. Its key technical features—sharding (called “Nightshade”), a WebAssembly (Wasm) runtime, and a developer‑centric toolset (NEAR SDKs, AssemblyScript, Rust, TypeScript, etc.)—make it a solid foundation for a wide variety of decentralized applications (dApps). When people talk about a **“NEAR offshore project,”** they’re usually referring to a project that is: 1. **Hosted or incorporated in a jurisdiction with favorable regulatory or tax regimes** (e.g., Singapore, Malta, the Cayman Islands, etc.). 2. **Built on the NEAR blockchain** to leverage its performance, low cost, and developer tooling. 3. **Targeted at a global audience**, often with a focus on financial services, tokenized assets, or privacy‑preserving solutions that benefit from the offshore environment. Below is a structured look at what such a project could realistically do, the advantages it would gain from NEAR, and the practical considerations you’d want to keep in mind. --- ## 1. Core Functionalities a NEAR Offshore Project Could Offer | Category | Example Use‑Cases | Why NEAR Helps | |----------|-------------------|----------------| | **Decentralized Finance (DeFi)** | • Cross‑border lending/borrowing platforms • Stablecoin issuance tied to offshore‑held fiat reserves • Yield aggregators that pool liquidity from multiple chains | • Near‑instant finality (≈1 sec) reduces settlement risk • Low gas fees make micro‑transactions viable • Native “access keys” enable seamless onboarding for non‑crypto users | | **Tokenized Real‑World Assets (RWA)** | • Tokenized real‑estate parcels, ships, or aircraft • Offshore‑registered securities (e.g., private equity tokens) • Commodity‑backed tokens (gold, oil) stored in offshore vaults | • NEAR’s “account model” (human‑readable account IDs) simplifies KYC/AML integration • Scalable sharding handles high‑throughput issuance and secondary markets | | **Offshore DAOs & Governance** | • DAO for managing an offshore fund or venture • Community‑governed protocol for cross‑border trade compliance • Voting platform that respects jurisdictional privacy rules | • NEAR’s “contract‑as‑account” model lets each DAO have its own account name (e.g., `mydao.near`) • Low‑cost proposals enable frequent governance cycles | | **Privacy‑Preserving Services** | • Encrypted messaging or file‑storage dApps with data residency outside restrictive jurisdictions • Zero‑knowledge proof (ZKP) based identity verification for offshore KYC • Confidential transaction mixers (subject to local law) | • NEAR’s support for zk‑SNARK/zk‑STARK libraries in Rust/Wasm • Ability to run off‑chain compute (via “NEAR Worker” or “NEAR Oracles”) for privacy‑sensitive logic | | **Supply‑Chain & Trade Finance** | • Tracking of goods that move through offshore free‑trade zones • Smart‑contract‑based letters of credit that are enforceable across borders • Tokenized invoices for factoring services | • Fast finality speeds up reconciliation • Low fees keep the cost of per‑item tracking affordable | | **Gaming & Metaverse** | • Play‑to‑earn games that reward offshore‑based token economies • NFT marketplaces for virtual land that is legally registered in offshore jurisdictions • Cross‑chain avatars that can move between NEAR and other ecosystems | • NEAR’s “Rainbow Bridge” enables assets to flow to/from Ethereum, Aurora, Polygon, etc., expanding liquidity • High TPS supports real‑time in‑game economies | --- ## 2. Technical Advantages of Building on NEAR | Feature | How It Benefits an Offshore Project | |---------|--------------------------------------| | **Nightshade Sharding** | Enables horizontal scaling—your dApp can handle thousands of concurrent users without a spike in fees. | | **Low Transaction Costs** | Typical transactions cost < 0.1 USD, which is essential for micro‑payments, frequent governance votes, or high‑frequency trading. | | **Fast Finality (≈1 sec)** | Reduces settlement risk for cross‑border financial contracts (e.g., payments, escrow). | | **Human‑Readable Account Names** | Instead of hex addresses, you can use `mycompany.offshore.near`, making onboarding for non‑technical users smoother. | | **Developer Tooling** | SDKs for Rust, AssemblyScript, TypeScript, and a powerful CLI (near‑cli) accelerate time‑to‑market. | | **Interoperability** | The **Rainbow Bridge** connects NEAR to Ethereum, Aurora (EVM on NEAR), and other chains, letting you tap into existing liquidity and DeFi primitives. | | **Contract Upgradability** | NEAR supports “state‑preserving upgrades”, so you can evolve your business logic without forcing users to migrate. | | **Built‑in Access Keys** | You can give a user a limited‑permission key for a specific action (e.g., “sign a loan agreement”) without exposing the full private key. | --- ## 3. Typical Architecture for an Offshore dApp on NEAR ``` +-------------------+ +-------------------+ +-------------------+ | Front‑End (Web / | <---> | NEAR Wallet / | <---> | NEAR Smart | | Mobile App) | | Key Management | | Contracts | +-------------------+ +-------------------+ +-------------------+ | | v v +----------------+ +-------------------+ | Off‑Chain API | | NEAR Indexer / | | (KYC, AML, | | Explorer (for | | compliance) | | analytics) | +----------------+ +-------------------+ | v +-------------------+ | Offshore Legal | | Entity / Custody | +-------------------+ ``` * **Front‑end** – React, Vue, or native mobile SDKs that interact with NEAR via `near-api-js` or the mobile wallet SDK. * **NEAR Wallet / Access Keys** – Users sign transactions with a wallet that can be hosted in a jurisdiction‑friendly way (e.g., a custodial wallet operated by a licensed offshore entity). * **Smart Contracts** – Written in Rust/AssemblyScript, handling token issuance, escrow, voting, or any business logic. * **Off‑Chain API** – Needed for KYC/AML, off‑chain data (price feeds, legal documents), or integration with traditional banking APIs in offshore jurisdictions. * **NEAR Indexer** – For compliance reporting, audit trails, and analytics required by regulators or auditors. * **Offshore Legal Entity** – The entity that owns the smart‑contract deployment key, holds fiat reserves, or provides custodial services. Being offshore can simplify licensing, tax, and reporting requirements (subject to the laws of the chosen jurisdiction). --- ## 4. Regulatory & Compliance Considerations | Topic | What to Keep in Mind | |-------|----------------------| | **KYC/AML** | Even offshore projects often need to meet “Know Your Customer” and “Anti‑Money Laundering” obligations, especially if you issue tokenized securities or stablecoins. NEAR’s account model makes it easy to attach KYC data to an account (via an off‑chain hash or on‑chain proof). | | **Tax Residency** | The jurisdiction where the legal entity is incorporated determines tax treatment. Smart‑contract code itself isn’t taxed, but token sales, fees, and earnings may be. | | **Securities Laws** | If you tokenize equity, debt, or other investment contracts, you may need a securities license in the offshore jurisdiction (e.g., a “Capital Markets License” in the Cayman Islands). | | **Data Privacy** | Offshore jurisdictions often have looser data‑storage rules, but you still need to respect GDPR, CCPA, or other privacy regulations if you collect personal data from EU/US users. NEAR’s on‑chain data is public, so sensitive PII should stay off‑chain. | | **Sanctions & Blacklists** | Use an on‑chain “allow‑list/deny‑list” contract or an off‑chain compliance service to block addresses from sanctioned jurisdictions. | | **Legal Entity Structure** | Common structures: International Business Company (IBC), Special Purpose Vehicle (SPV), or a limited partnership. Choose one that aligns with your tokenomics and investor base. | > **Bottom line:** Building offshore does not give you carte blanche to ignore regulations. Most reputable jurisdictions require at least a baseline of AML/KYC and transparent reporting for token offerings. --- ## 5. Potential Business Models | Model | Description | Revenue Streams | |-------|-------------|-----------------| | **Token‑Backed Stablecoin** | Issue a USD‑pegged stablecoin whose reserves are held in an offshore bank. | • Issuance fees • Interest on reserve assets • Transaction fees | | **RWA Marketplace** | Tokenize real‑estate or commodities stored offshore; allow fractional ownership & secondary trading. | • Listing fees • Marketplace commission • Custody fees | | **DeFi Lending Platform** | Lend tokenized assets to global borrowers, using offshore legal contracts for collateral enforcement. | • Interest spread • Origination fees • Liquidation penalties | | **DAO‑Managed Fund** | An offshore venture fund governed by token‑holders, with profits distributed via NEAR‑based tokens. | • Management fees • Performance fees (carried interest) | | **Privacy‑Focused Wallet** | Provide a custodial wallet that stores private keys in a jurisdiction with strong data‑privacy laws, while interacting with NEAR. | • Subscription fees • Transaction fee rebates | | **Cross‑Chain Bridge Service** | Operate a bridge that connects offshore‑registered assets on other chains to NEAR. | • Bridge fees • Liquidity provision incentives | --- ## 6. Sample Roadmap for a New Offshore NEAR Project | Phase | Milestones | Key Deliverables | |-------|------------|------------------| | **1️⃣ Concept & Legal Setup** | • Choose offshore jurisdiction • Register entity & obtain any needed licenses (e.g., fintech, securities) | • Legal opinion on token classification • Compliance framework (KYC/AML) | | **2️⃣ Architecture & Prototyping** | • Design smart‑contract architecture (token, escrow, governance) • Build off‑chain API for KYC & data feeds | • PoC contracts on NEAR testnet • UI mockups | | **3️⃣ Testnet Deployment** | • Deploy contracts to NEAR testnet • Run a closed‑beta with invited users (e.g., institutional partners) | • Audited contracts (formal audit report) • Documentation (API, SDK) | | **4️⃣ Mainnet Launch** | • Deploy final contracts • Open KYC/AML onboarding • List token on NEAR Explorer & partner exchanges | • Live dApp & wallet integration • Initial liquidity provision (e.g., via NEAR‑based AMM) | | **5️⃣ Scaling & Governance** | • Implement DAO governance module • Add cross‑chain bridge (Rainbow Bridge) • Introduce analytics dashboard for compliance | • DAO voting UI • Bridge contracts & liquidity pools | | **6️⃣ Expansion** | • Add new asset classes (e.g., tokenized art) • Integrate with traditional finance APIs (offshore banks) • Explore zk‑privacy upgrades | • Multi‑asset marketplace • Privacy‑preserving transaction layer | --- ## 7. Risks & Mitigation Strategies | Risk | Description | Mitigation | |------|-------------|------------| | **Regulatory Change** | Offshore jurisdictions can tighten rules on crypto or tokenized assets. | • Maintain a legal counsel on retainer • Build modular contracts that can be upgraded or migrated | | **Smart‑Contract Bugs** | Vulnerabilities could lead to loss of funds. | • Conduct at least two independent audits • Use “multi‑sig” admin keys for emergency upgrades | | **Liquidity Shortfall** | New tokens may lack market depth. | • Partner with NEAR‑based DEXs (Ref Finance, Burrow) • Provide initial liquidity incentives (yield farms) | | **Custody & Counterparty Risk** | Offshore banks may be less transparent. | • Use multi‑signature custodial solutions • Store reserve assets in diversified banks | | **Cross‑Border Tax Complexity** | Users may face unexpected tax obligations. | • Offer tax‑reporting APIs and documentation • Work with tax advisors familiar with offshore structures | --- ## 8. TL;DR – What a NEAR Offshore Project Could Do 1. **Create a fast, cheap, and scalable DeFi or tokenized‑asset platform** that leverages offshore legal structures for regulatory or tax efficiency. 2. **Issue stablecoins, security tokens, or NFTs** whose backing (cash, real estate, commodities) is held in offshore vaults or banks. 3. **Run a DAO‑governed fund or marketplace** where token holders vote on investment decisions, fee structures, or protocol upgrades. 4. **Provide privacy‑focused services** (e.g., encrypted messaging, ZK‑based identity) that benefit from offshore data‑residency rules while still being built on a public blockchain. 5. **Integrate with traditional finance** via off‑chain APIs, enabling things like cross‑border payments, trade‑finance letters of credit, or supply‑chain verification. All of this is technically feasible today on NEAR, thanks to its sharding, low fees, developer‑friendly SDKs, and cross‑chain bridges. The key to success is aligning the **technical design** with a **robust compliance framework** that respects both the offshore jurisdiction’s regulations and the global regulatory environment. --- ### Want to Dive Deeper? - **NEAR Documentation** – <https://docs.near.org> (SDKs, contract patterns, bridge guides). - **Rainbow Bridge** – <https://bridge.near.org> (move assets between NEAR and Ethereum). - **NEAR Auditors** – Firms like **Trail of Bits**, **CertiK**, and **Quantstamp** have published audit reports you can reference. - **Offshore Legal Resources** – Look for firms that specialize in “FinTech & Crypto” services in the jurisdiction you target (e.g., **Maples Group**, **Conyers**, **MinterEllison**). Feel free to ask if you’d like a more detailed walk‑through of a specific use‑case (e.g., tokenized real‑estate, stablecoin design, or DAO governance) or guidance on the next concrete steps for your project!"

Logs:

Retrieving large output from storage for request_id: 20 [[yNEAR charged: "52892000000000000000000"]] {  "standard": "near-offshore",  "version": "1.0.0",  "event": "execution_completed",  "data": [    {      "sender_id": "offchainvm.testnet",      "code_source": {        "repo": "https://github.com/zavodil/ai-ark",        "commit": "159f403ff0dadaad432300058b16dfc6860bc696",        "build_target": "wasm32-wasip2"      },      "resources_used": {        "instructions": 383564,        "time_ms": 11532,        "compile_time_ms": 31360      },      "success": true,      "error_message": null,      "payment_charged": "52892000000000000000000",      "payment_refunded": "47108000000000000000000",      "compilation_note": null,      "timestamp": 1761163565592379100    }  ]} Execution completed successfully. Output: Text: ## Quick Overviewnn**NEAR Protocol** is a fast, lowu{2011}fee, proofu{2011}ofu{2011}stake (PoS) layeru{2011}1 blockchain tha, Resources: { instructions: 383564, time_ms: 11532 }, Cost: 52892000000000000000000 yoctoNEAR, Refund: 47108000000000000000000 yoctoNEAR

Receipt:

E4otuMXtQJq32qgL4RhoxXLgqJWZnL8Qs1L48PifaSNa

Status:

Success

Block:

219,872,418

Timestamp:

From:

c5.offchainvm.testnet(ed25519:AaPYDFvbxMWFcfXDw6ZUJA9drktwtFi7euepdqPoFMVA)

To:

offchainvm.testnet

Value:

0.047108 Ⓝ

Burnt Gas:

0.223 Tgas

Burnt Tokens:

0.000022 Ⓝ

Actions:

Transfer 0.047108

{

"deposit": "47108000000000000000000"

}

Result:

Empty Result

Logs:

No Logs

Receipt:

AxDAACKGuuyQ8HsGkx4sRcb1Wm7uLzuiWZhMFTD9wvf6

Status:

Success

Block:

219,872,418

Timestamp:

From:

system

To:

offchainvm.testnet

Value:

0.029388 Ⓝ

Burnt Gas:

0.223 Tgas

Burnt Tokens:

0 Ⓝ

Actions:

Transfer 0.029388

{

"deposit": "29387917367288300000000"

}

Result:

Empty Result

Logs:

No Logs

Receipt:

Status:

Block:

Timestamp:

From:

To:

Value:

Burnt Gas:

Burnt Tokens:

Actions:

Result:

Logs:

{ "standard": "near-offshore", "version": "1.0.0", "event": "execution_requested", "data": [ { "request_data": "{\"request_id\":20,\"sender_id\":\"offchainvm.testnet\",\"code_source\":{\"repo\":\"https://github.com/zavodil/ai-ark\",\"commit\":\"159f403ff0dadaad432300058b16dfc6860bc696\",\"build_target\":\"wasm32-wasip2\"},\"resource_limits\":{\"max_instructions\":50000000000,\"max_memory_mb\":128,\"max_execution_seconds\":60},\"input_data\":\"{\\\"prompt\\\":\\\"What could the NEAR offshore project do?\\\",\\\"history\\\":[{\\\"role\\\":\\\"user\\\",\\\"content\\\":\\\"Tell me about NEAR\\\"},{\\\"role\\\":\\\"assistant\\\",\\\"content\\\":\\\"NEAR is a Layer 1 blockchain...\\\"}],\\\"model_name\\\":\\\"fireworks::accounts/fireworks/models/gpt-oss-120b\\\",\\\"openai_endpoint\\\":\\\"https://api.near.ai/v1/chat/completions\\\",\\\"max_tokens\\\":16384}\",\"secrets_ref\":{\"profile\":\"default\",\"account_id\":\"zavodil2.testnet\"},\"response_format\":\"Text\",\"payment\":\"100000000000000000000000\",\"timestamp\":1761163517903355767}", "data_id": [ 152, 57, 102, 0, 98, 211, 196, 240, 198, 22, 42, 223, 12, 40, 116, 69, 124, 68, 75, 12, 166, 174, 218, 233, 133, 41, 143, 119, 9, 40, 55, 98 ], "timestamp": 1761163517903355600 } ]}

Retrieving large output from storage for request_id: 20 [[yNEAR charged: "52892000000000000000000"]] { "standard": "near-offshore", "version": "1.0.0", "event": "execution_completed", "data": [ { "sender_id": "offchainvm.testnet", "code_source": { "repo": "https://github.com/zavodil/ai-ark", "commit": "159f403ff0dadaad432300058b16dfc6860bc696", "build_target": "wasm32-wasip2" }, "resources_used": { "instructions": 383564, "time_ms": 11532, "compile_time_ms": 31360 }, "success": true, "error_message": null, "payment_charged": "52892000000000000000000", "payment_refunded": "47108000000000000000000", "compilation_note": null, "timestamp": 1761163565592379100 } ]} Execution completed successfully. Output: Text: ## Quick Overviewnn**NEAR Protocol** is a fast, lowu{2011}fee, proofu{2011}ofu{2011}stake (PoS) layeru{2011}1 blockchain tha, Resources: { instructions: 383564, time_ms: 11532 }, Cost: 52892000000000000000000 yoctoNEAR, Refund: 47108000000000000000000 yoctoNEAR