Stake Near with Kiln enterprise-grade staking (2024)

What is NEAR?

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NEAR is a community run protocol that allows developers to build functional applications on it and is secured by a robust network of hundreds of nodes internationally. The native token on the NEAR protocol is also called NEAR. Providing easy-to-use tools like SDKs, NEAR aims to progress the creation of Web3 systems. Taking the baton from the Ethereum network, NEAR continues to push the conversation around blockchain functionality and implements many of the same technologies that were brought about through Ethereum, such as smart contracts and dApps.

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Is NEAR a Proof-of-Stake blockchain?

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The NEAR protocol uses an iteration of the Proof-of-Stake (PoS) consensus named Delegated-Proof-of-Stake (dPoS) to secure its network.Delegated-Proof-of-Stake (dPoS) is also used on the NEAR blockchain and offers a simpler method of participating in the security of the network through the validation of blocks. All of this contributes to the speed and scalability of the network. One of the core priorities of the NEAR network is to make transactions more rapid and offer a foundation towards interoperability and Web3 development. PoS is essential to making this a possibility as it is far superior in terms of how many transactions can be processed at one time.

Why should you stake your assets?

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Staking is the best way to get rewarded in the crypto space. It is a process that is encouraged and calculated to positively affect the production of new coins within a protocol as the value is derived from the blockchain’s native currency inflation. This is predictable and secure.

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By staking NEAR tokens you are also adding to the security and decentralization of the network and using your assets for the overall benefit of the chain as well as gaining a reward at the same time.

You can stake NEAR as well as other PoS cryptocurrencies to:

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  Put your treasury to work

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  Diversify and earn

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  Bring new opportunities by enabling your users to earn staking rewards

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Rewards are distributed per epoch, which is around 12 hours per epoch. NEAR validators receive 90% worth all yearly rewards, which account for 5% of the total supply annualized.

There is no slashing risk at the moment when staking NEAR but it is planned to be implemented in this protocol at a future time.

To gain a seat and stake NEAR as an operator will be worth the amount of the 100th validator. For those delegating their stake to a validator there is no minimum required to join in the consensus process.

Regardless of whether you stake NEAR yourself, or delegate your coins to a NEAR validator, it requires you to plan the custody of your a

When unstaking NEAR, you will have to wait until four epochs have passed. This is equivalent to around 48 hours, depending on what point in the current period you choose to unstake.

Staking NEAR offers rewards based on the percentage of your stake within a validator pool. Every year, NEAR rewards account for 5% of the total supply of NEAR available. Stakers are allocated 90% of this reward, while 10% goes into the NEAR treasury.Unlike other PoS based systems, NEAR does not include slashing (although this may change in future) therefore there are no outstanding penalties on the NEAR protocol at this time.

The average block time on NEAR is ~1 sec.

To participate in building consensus there is a fee of 35 NEAR that validators need to pay for gas and storage fees. Delegating your NEAR to validators also requires users to pay a fee for the rewards made on processed blocks. Users also need to keep in mind that unstaking takes 4 epochs to be received back in their wallet which equates to around 48 hours.