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NEAR Protocol

NEAR Protocol is a layer-1 blockchain designed to address scalability and usability challenges commonly faced by decentralized applications (dApps). It offers developers a secure and scalable platform for building and deploying dApps that can handle large user bases and high transaction volumes.

The native token of NEAR Protocol is called NEAR. NEAR tokens serve multiple purposes within the network. Firstly, they are used to pay transaction fees incurred by dApp users. Secondly, NEAR tokens are used for network governance, enabling token holders to participate in decision-making processes regarding protocol upgrades and changes. Finally, NEAR tokens can be staked by network participants to secure the ntwork, contribute to consensus, and earn additional token rewards.

NEAR Protocol was created by the NEAR Foundation, a nonprofit organization based in Switzerland.

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Delegation overview

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Prerequisites

• Self-custody NEAR Wallet
• NEAR tokens to stake

OBS!

Be aware that as of January 1st, 2024 the NEAR Wallet will be discontinued

To reflect the priority of decentralization, over the next few months the domain https://wallet.near.org will migrate from being a browser wallet to being a wallet hub. In this way, https://wallet.near.org will become the reference place for all NEAR wallets, allowing users to discover and implement the right wallets for their specific needs.

Please refer to this page for more information: https://wallet.near.org/transfer-wizard

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Stake NEAR with NORTHSTAKE

Delegation guide

1. Open the NEAR wallet of your choice. For this tutorial, we will be using MyNearWallet.

2. In the menu bar, select Staking

3. In the Staking form click Stake My Tokens

4. On the Select a Validator Page, input Northstake’s Pool ID northstake.poolv1.near in the Validator account ID field.

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5. Insert the amount of tokens you wish to stake and press Submit Stake

6. Within a short period of time, you should be able to see a message confirming that your tokens have been successfully staked.

Congratulations! 🚀

Your NEAR tokens are now actively staking, and you will begin earning rewards while contributing to the network’s security.

By following this NEAR staking guide, you have taken an important step in participating in the NEAR ecosystem. If you found this guide helpful, consider sharing it with a friend to help them get started with NEAR staking too.

Get support

If you want to get continued support and want to know more about delegating and validating on the NEAR network, reach out to NORTHSTAKEat info@northstake.dk or join our Telegram group.

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