NEAR (token)

NEAR token is the native of the , a layer-1 public . The token is used for paying transaction fees, and for storage, and it can be by holders to participate in validating transactions and reaching network consensus. [1][2][3]


There were 1,000,000,000 NEAR tokens created at Genesis on April 22, 2020. [2]

17.20% of the Genesis token was allocated to Community Grants and Programs, 14.00% to Core Contributors, 12.00% to Community Sale, 11.76% to Early Ecosystem, 11.40% to Operations Grants, 10.00% to Foundation Endowment, 17.6% to Backers, and 6.1% to Small Backers. [4][1][2]

5% of additional supply is issued each year to support the network as epoch rewards, of which 90% goes to validators (4.5% total) and 10% to the protocol treasury (0.5% total). 30% of transaction fees are paid out as rebates to contracts that interact with a transaction, while the remaining 70% are burned. [1]



Validators as a group are paid a fixed 90% of around 5% of the total supply annualized (the other 10% goes to Protocol Treasury). Rewards are distributed per epoch — every half a day. Each validator receives a reward proportional to their participation. As a validator stakes, the seats taken is determined via simple auction. After each epoch finishes, the validator will be evaluated based on how many blocks and chunks were produced versus expected production. [7]

If it’s below 90% of what’s expected, the validator is considered to be offline/unstable, won’t get any rewards, and will be removed from the coming epoch’s validation (i.e., force unstaked). Validators with at least 90% online presence will receive rewards that grow linearly, with 100% of the reward given to those with a 99% or above online presence. [7]


Validators can receive $NEAR to stake from third parties via Delegation. NEAR Protocol enables delegation via . Validators that want to accept delegation can create a special contract and allow users who don’t want to run their own nodes to deposit their $NEAR into it. By doing so, funds deposited to that contract are available to the creator of the contract to use as part of their stake. [7]


The primary use of the NEAR token is to cover transaction fees and as collateral for data storage on the . NEAR tokens are also distributed as rewards to different stakeholders on the blockchain, such as transaction validators, who receive a reward of 4.5% of the total annual NEAR supply for their services. [6]

NEAR token is also used to run a validating node as part of the network by participating in the process and it helps determine how network resources are allocated and where its future technical direction will go by participating in governance processes. The NEAR token enables the economic coordination of all participants who operate the network plus it enables new behaviors among the applications which are built on top of that network. [6]

See something wrong? Report to us.

NEAR (token)


Average Rating

No ratings yet, be the first to rate!

How was your experience?

Give this wiki a quick rating to let us know!

Twitter Timeline




Join the IQ Brainlist

Sign up for the IQ Brainlist to get early access to editing on the site!

Join Now

Subscribe to our newsletter

The IQ Ecosystem Report will keep you updated on everything IQ.

Subscribe's vision is to bring blockchain knowledge to the world and knowledge onto the blockchain. A part of Brainfund group


What's IQ?StakingBonds


About usCareersBrandingIQ GPTIQ Dashboard

© 2024 Powered ByBrainDAO& IQ