Drawing from the original vision of Ethereum, the NEAR team defines the protocol as a blockchain based community cloud that combines compute and storage in a trustless way.

Ultimately, NEAR sees itself as a developer platform for the open web and abides by these principles:

  • Governed by community
  • Hackable and composable
  • Open and permissionless
  • User-first and sovereign
  • Open markets

The NEAR token is the native token on NEAR. It will be used to provide network security through staking as well as to pay for transaction fees.


Stake Now
Market Cap
$2,268,469,284
Price
$5.1557
Rewards
Automatically handled
Slashing
None
Inflation
4.5% annually
Unbonding
Max 48 hours
Compounding
Automatically

Optimizing Staking With Figment

Figment offers peace of mind to its customers and provides the most complete staking experience in the industry

EXPERIENCED & TRUSTED

Original testnet participant, genesis block producer on mainnet, and member of Near Protocol’s Validator Advisory Board.

Serving many of Near Protocol’s early investors.

Figment is a venture funded, registered Canadian company, based in Toronto. Canada offers stability, rule of law and clear crypto regulation.

FEATURES & BENEFITS

Our Commission rate is 10%.

Active participant in the NEAR ecosystem.

Third-party custody solutions are available through our institutional partners. Contact us for more information.


SECURITY & SAFETY

The world’s most advanced physical IDC + multi-cloud staking infrastructure.

You maintain custody of your NEAR at all times.

Protected via industry-leading Delegation Agreement.

Looking to stake over 100,000 NEAR?

Get in touch with our team to discuss Prime customers advantages and unlock the full Figment experience

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Staking Guide & Instructions

Stake your NEAR tokens in a few clicks by following these steps:

Mainnet Delegation

Now that the NEAR mainnet staking is enabled, you will be able to earn staking rewards. Use the NEAR Wallet to delegate to the Figment staking pool: figment.poolv1.near

Staking

  1. Select “Staking” from the navigation bar (or dropdown on mobile)
  2. Click the “Select Validator” button
  3. Choose ‘Figment’
  4. Confirm your choice and select “Stake with Validator”
  5. Enter the amount of NEAR you would like to stake, and click “Submit Stake”
  6. You will need to confirm two transactions, one to select the validator, and another to deposit and stake with the validator.

Figment's Validator Addresses

figment.poolv1.near

Need more detailed instructions?

See full guide

NEAR Protocol FAQ

Where can I explore the network and create a NEAR wallet?

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NEAR explorer: https://explorer.near.org

NEAR wallet: https://wallet.near.org

Figment has developed the NEAR Hubble explorer.

What is the name of the asset being staked?

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NEAR Protocol's native token, NEAR, is used to stake, pay for transactions, and for validators to participate in on-chain governance.

When are staking rewards enabled? When are transfers enabled?

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In short: transfers and staking rewards are now enabled

Token transfers were enabled by validators on October 13, 2020 via on-chain vote. Staking rewards began after we upgraded the network on October 20, 2020.

Why stake NEAR?

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Good question!

Initially, the NEAR token is being staked to earn new issuance ("inflationary") subsidies. That means that the NEAR supply will increase and stakers will capture the newly issued NEAR.

In short: you can stake locked tokens to earn annually ~22% as of Oct 21

You can stake locked tokens. Stakers will proportionally share the newly issued NEAR tokens. The targeted issuance rate is 5% annually with 10% of that going to the NEAR treasury.

This means that 4.5% of issuance will be given to validators and NEAR token holders who decide to stake NEAR.

As of Oct 21, 20% of the supply is staking, meaning that stakers are earning just over 22% annually. If 70% of the token supply participates in staking, then stakers should expect about 6.4% in yearly rewards.

Since staking rewards are tied to inflation, read about how inflation and rewards are related here.

The NEAR token also gives validators the right to vote on policy decisions for how the NEAR protocol will operate and distribute treasury funds.

How long does it take to unstake?

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In short: up to 48 hours

From the moment you initiate the unbonding process, it takes up to 48 hours (4 epochs) to unstake. During this time you will not earn rewards. When the process is complete, you can transfer/trade your NEAR tokens.

Do I maintain custody of my NEAR tokens? Who or what controls my staked NEAR tokens?

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In short: self-custody or third-party; the protocol controls staked NEAR

You will be able to self-custody your NEAR tokens, ideally using a Ledger hardware wallet. You can use the NEAR team's wallet with (or without) a Ledger device: https://wallet.near.org

Figment has partnerships with a number of top-in-class custodians: support@figment.io

NEAR Protocol takes control of your NEAR tokens while you are staking. If you unbond your tokens, this process will take 36 to 48 hours before the protocol returns your tokens to you. While your NEAR are staked, you will earn staking rewards and your validator will vote in on-chain governance on your behalf.

Can my staked NEAR be slashed (seized or destroyed)?

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In short: no

Your validator (and stake) will not be slashed for downtime. Validators who perform an equivocation (ie. double signing a block at the same height) or an invalid state transition (producing an invalid chunk of a block) will not will not lose stake.

However, you can lose potential rewards for downtime, and you can learn more about how we secure our infrastructure here.

How is staking income disbursed? Is staking income liquid or automatically staked?

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Staking income on NEAR is automatically distributed. Figment is never in control of your rewards.

Staking income is staked automatically, which means you will need to unstake to withdraw your staking income.

Can I lose out on potential rewards?

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In short: yes, if your validator is offline too long

Your validator (and stake) will not be slashed for downtime, but your validator will be removed from the active set if offline for more than 10% of a 12 hour period. If this happens, your validator will not be able to earn rewards for up to 36 hours. Your validator (and stake) will not be slashed for downtime.

If your validator is online at least 99% of the time, you will earn 100% of your potential rewards. Anything below that and you will lose potential rewards, and ultimately you will earn no rewards for the epoch (ie. 12 hour period) below 90% uptime. That means, for example, that if your validator has 95% uptime, you should receive ~50% rewards for that epoch.

You will not lose potential rewards if your validator performs an equivocation (ie. double signing a block at the same height) or produces an invalid state transition (producing an invalid chunk of a block).

What is the rate of new issuance (aka "annual inflation") for NEAR? How does the token supply change?

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In short: a 5% increase in supply via new issuance (and a 70% burn rate for transactions)

NEAR Protocol launched with a supply of 1B NEAR tokens, 176M of which will be circulating. New supply issuance will not begin until Mainnet Phase II. You can read about token distribution here.

According to the Economics Blog Post and Economics Paper, 5% of additional supply is issued yearly: 90% goes to validators (4.5% total) and 10% to the protocol treasury (0.5% total). 30% of transaction fees are rebated to the contracts touched by the transaction and 70% are burned.

Read more about token distribution here.

Where can I learn more about NEAR?

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