As a machine-learning project turned into a Proof-of-Stake blockchain protocol, NEAR was built to explore the field of automation programming. NEAR focuses on making blockchain more accessible to its communities across Asia, Europe, Africa, and other regions. The founders previously worked at Google and MemSQL. NEAR’s mainnet went live in 2020, and over $500M has been raised for the project. In 2022, NEAR’s developer community was one of the most active – consistently maintaining one of the highest levels of Github developer activity throughout the entire year relative to other competing protocols. NEAR protocol is known for low-cost and fast transactions taking less than 1 second.
*Stated Annual Percentage Reward (APR) is estimated based on reported network data. APR stated is not guaranteed and may fluctuate overtime.
Learn More About Near Protocol
What is Near Protocol (NEAR), and what is it used for?
NEAR is the native token used to pay for transaction fees and act as collateral for storing data on NEAR Protocol’s Proof-of-Stake network. NEAR has established a protocol treasury, which receives 0.5% of the total NEAR supply annually, for the purpose of reinvesting in the further development of the ecosystem.
What are NEAR Protocol staking rewards?
Staking rewards in the form of native blockchain tokens (BAND) are distributed to validators for locking up their cryptocurrencies to a blockchain network to support validator node’s participation in the consensus mechanism and securing the network for a period of time. Refer to the data above for the latest NEAR Protocol staking reward figures.
What are the costs of staking NEAR Protocol?
StakeSeeker charges a small percentage-based fee (stated above) allocated towards the administerial 24/7 maintenance and monitoring of our staking infrastructure required to operate our validators effectively and securely. The rewards distributed to our community will be a net of the validator fee charged.
Is staking NEAR Protocol secure?
When NEAR is staked, it’s actually being delegated to a validator. In our case, StakeSeeker facilitates the role of the validator. Similar to staking tokens on any other protocol, staking NEAR comes with certain risks. If any downtime is experienced, or if a validator misses another part of the necessary requirements, then a percentage of the staked NEAR can be lost as a penalty (known as “slashing”). StakeSeeker monitors its nodes 24/7 and has an excellent track record that minimizes these risks.
What are the current use cases of NEAR Protocol?
NEAR protocol’s sharding technology makes it a highly scalable blockchain on which over 800 projects are built spanning across Decentralized Finance (DeFi), non-fungible tokens (NFTs) and Decentralized Applications (DApps).
How long does it take to unstake NEAR Protocol?
Unstaking (also called unbonding or undelegating) can be initiated at any time. However, it takes approximately 48 hours for your NEAR to unstake from the network and become transferable. During this time, you will not earn rewards. When the process is complete, you regain the ability to transfer/trade your NEAR tokens.
What is the minimum amount of NEAR Protocol to stake?
You can stake as little as 1 NEAR, but remember to keep some NEAR token unstaked in your wallet to pay for any potential future transaction fees.
What are the risks of staking NEAR Protocol?
Like many blockchain protocols, the consensus mechanism used by NEAR Protocol includes a slashing mechanism whereby any validator that misses too many blocks or double signs a block is penalized by the network, slashing the staked amount on that validator. StakeSeeker is run by Nasdaq listed BTCS Inc. which has its own tokens staked on the same validator nodes, so we are highly incentivized to minimize these risks and maximize our staking reward. However, delegators should be cognizant of these risks.
How do I get started staking NEAR Protocol?
To begin staking NEAR Protocol, click the “Start Staking” button at the top right, create an account with StakeSeeker and gain access to the platform’s crypto portfolio insights. Then, you can begin staking with our validator nodes by delegating your tokens. Within the platform, there are instructions and tutorials on how to link your crypto exchange accounts and digital wallets and how to navigate the platform’s tools. You can view our supported blockchain networks for staking on our homepage.
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