Stake NEAR with Kiln, enterprise-grade staking

What is NEAR?

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.

Is NEAR a Proof-of-Stake blockchain?

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.

What is staking?

Proof-of-Stake (PoS) based protocols require users to validate blocks to the chain in a process called staking. The incentive for this comes in the form of rewards that are given in return for confirming blocks to the chain. It is now the most popular form of consensus algorithm due to its efficiency and eco-friendly approach to block production.

By locking a protocol’s native tokens (ie NEAR) to give “validators” the right to secure a chain. Validators propose new blocks or attest other validators’ blocks, gaining rewards for doing so.

Why should you stake your assets?

Staking is the best way to earn a secure yield 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.

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 making a yield at the same time.

You can stake NEAR as well as other PoS cryptocurrencies to:
  • Put your treasury to work
  • Diversify and earn
  • Bring new opportunities to generate safe yields to your users
You stake
You get
every year
Protocol Card
Number of live validators
PoS + dPoS
Epoch duration

How to stake NEAR with Kiln?

To stake NEAR on Kiln you need to follow these simple steps:

  1. Login to the Kiln dashboard
  2. Initial Stake by selecting your Account and the amount of NEAR (plus the transaction fee)
  3. Connect your wallet: NEAR wallet, Moonlet Wallet …Kiln supports multiple wallets as well as WalletConnect
  4. Delegate Stake

NEAR works on a 5% yearly inflation rate, which means only 5% of the total amount of available coins will be released through staking annually. As with most other PoS and dPoS systems, rewards are shared in ratio to your staked NEAR. Staking NEAR is part of a compounding process, meaning your rewards are automatically restaked until you decide to unstake them.

What are the rewards associated with staking NEAR?

As an incentive for helping to safeguard the network, you can earn up to 9.62% APR* from the total NEAR staked.

Why should you stake your NEAR with Kiln?

Kiln is one of the most trusted names in validator operation with a great record of staking many different cryptocurrencies such as NEAR. Kiln is the leading enterprise-grade staking platform, enabling institutional customers to stake NEAR and to whitelabel NEAR staking functionality into their offering.

  • Stake NEAR in 1 click
  • Manage all your NEAR stakes and rewards from a single dashboard 
  • Non-custodial, work with your existing custodians solutions e.g.Fireblocks
  • SOC 2 certified and Industry leading SLAs (0 penalties recorded and 99.95% effective uptime)

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What does Proof-of Stake mean?

Proof-of-Stake (PoS) is a type of consensus mechanism used to validate cryptocurrency transactions. Through PoS, validators can contribute to the block production of a chain while keeping environmental concerns to a minimum, which is becoming an increasingly large issue in Proof-of-Work.

By staking capital rather than energy, validators risk losing a portion of their value and future potential for staking by misbehaving while creating blocks. This incentivizes collaboration and minimizes malicious activity in the consensus process.

When will I receive NEAR rewards?

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.

What are the risks associated with staking NEAR?

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.

Is there a minimum and maximum amount to stake for NEAR?

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.

Do I maintain custody of my NEAR tokens? Is NEAR staking non-custodial?

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

What is the lockup period to stake NEAR ? When can I unstake and withdraw my NEAR?

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.

How do rewards and penalties work?

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.

What is the average block time on NEAR?

The average block time on NEAR is ~1 sec.

What are the specificities of NEAR validators?

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.

What is an Annual Percentage Rate (APR) and how is it different from Annual Percentage Yield (APY)?

APR, or annual percentage rate, is the fixed interest rate earned on an investment over a one-year period. It is the percentage of return investors can expect to receive on their investment. On the other hand, APY or annual percentage yield, takes into account the compounding of interest on a fixed schedule. It includes both the interest earned and the interest on previously earned interest.

When it comes to PoS protocols, compounding does not always apply as additional validators can be needed to stake more. Therefore, APR is used instead of APY. It's worth noting that APY and APR cannot be compared directly, as they measure different things. However, it is possible to convert APR to APY and vice versa.

Where can I learn more about NEAR?

There are many existing resources but we invite you to visit the NEAR foundation's website and to check our latest articles on our blog.

Ernest Oppetit, CPO
February 24, 2023
This may change over time and fees might apply.