NEAR

Tokens

NEAR’s token economy is built around the NEAR token (aka $NEAR), a unit of value on the platform that enables token holders to use applications on NEAR, participate in network governance, and earn token rewards by staking to the network.

Overview of the NEAR Token

The NEAR token (aka $NEAR) is a utility token that powers the NEAR Protocol blockchain and all applications that use it. NEAR Protocol is a fully operational, open-source blockchain designed from the ground up to give builders the best tools to create scalable applications that real people can actually use.

As described in the Economics section below, $NEAR uses a block-rewards-with-burn model that, at high rates of usage, means token supply will be reduced over time.

Current Price in USD
Source: CoinGecko.com

Who uses it?

The NEAR token is used by two main groups of people:

Apps &
Users

Similar to blockchains like Ethereum, the NEAR token is used to pay for transactions by users of applications which are built on top of the NEAR platform. These apps can be anything from new Defi protocols to NFT marketplaces to everyday games.

Validators &
Delegators

The nodes which run the network are compensated by inflationary rewards. Tokenholders of any size can stake by lending their tokens to a validating pool and earn return by helping to secure the network this way.

How do I get it?

There are three ways to get $NEAR. Try all three!

Earn It

You can earn $NEAR by taking part in development bounties, by running a community that helps people build on NEAR, by winning a NEAR hackathon, or by being an active part of the community.

Buy It

$NEAR is available on several major exchanges, where you can sign up and buy the token using either fiat currency or crypto. Opportunities will vary based on your location.

From a Friend

You don’t need a NEAR account to receive NEAR tokens! The “NEAR Drop” approach allows your friend to pre-fund a new account and send you a hot link to retrieve the tokens. Join the community and find some NEAR friends.

How do I store it?

Similar to other blockchains, NEAR tokens are linked to accounts that are secured by private keys. For most people, that means you need to sign up for a wallet that supports NEAR and it will take care of the difficult parts.

If you bought $NEAR on an exchange, they will hold your tokens for you.

If a friend sent you a NEAR Drop, you will be asked to create a NEAR Wallet.

Learn more about how to custody NEAR tokens in the custody docs.

What can I do with it?

The ways to use $NEAR are growing! But as a starting point, we’ve outlined a range of easy, simple things you can do with your $NEAR and an account.

Simple, yet powerful things

Here are a few simple, beginner-level, things you can do with NEAR.

Transfer NEAR

Send $NEAR back and forth between accounts and check out the transactions in the Block Explorer. Because transaction fees are very low, you can quickly and easily move very small amounts of $NEAR quickly, simply and cheaply.

Try a NEAR Drop

Send your friend a NEAR drop to help them get started on NEAR.

Use NEAR Apps

To view the growing list of apps being built on NEAR, click here.

Earn rewards while securing the network

Intermediate & Expert level tasks that allow you to earn rewards by staking or delegating your NEAR.

Stake your NEAR

Stake your NEAR by delegating to a validator.

The NEAR Wallet now has Staking Support, see HERE for details. Info on other upcoming wallet features in this post.

From the community (unofficial): Dokia offers a community-run staking interface.

Run a Validator

Running your own validator requires technical expertise.

Resources

Dive deeper into token economics and more.

Token Economics

NEAR’s economics are designed to make the network secure but inexpensive to use, even while it scales. Find out how.

Tokenholder Issues

Discussions about tokenholder issues, including economics and governance, take place in the NEAR Forum.

As always, please use care and judgement when responding to anyone who appears to be from the “team” on social channels and never give up your account information or transfer tokens based on these conversations.

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