Why Stake with Figment?



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.



Figment Prime and discounts available for large token holders. Contact us for more information.

Active participant in the NEAR ecosystem.



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

You maintain custody of your NEAR at all times.

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



Protected via industry-leading Delegation Agreement.

Staking Guide & Instructions

In short, you can use the NEAR team’s wallet interface to stake:

This is Figment’s Validator address:


This is Figment’s NEAR Staking Delegation Guide, and the NEAR team has also posted a guide.

Fiat-to-Token Exchange

Please see our comprehensive guide on fiat to crypto on-ramps for all staking tokens.

View Guide

Learn More

NEAR Protocol is a highly scalable and developer friendly layer-one sharded blockchain. The mainnet launched with token transfers on October 13, 2020, and staking rewards were enabled on October 20, 2020.

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. The technical design is focused on creating a quality user experience that is familiar, which the NEAR team hopes will lead to increased end user adoption of applications built on NEAR. 

NEAR’s technology includes 4 key elements:

Sharding: This will allow the blockchain to scale horizontally and indefinitely by distributing the work across multiple shards. The shards will be connected through a beacon chain that verifies  changes within the shards. 

Consensus: Consensus across all shards is achieved using NEAR’s novel Nightshade algorithm. Nightshade allows individual shards to produce only a “chunk” of a block on the network. The total block is a combination of all the chunks produced by individual shards. 

Staking Selection and Game Theory: NEAR uses a Proof of Stake design. Validators are randomly selected to perform work on the network and are rewarded for good behavior. 

Randomness: NEAR uses a simple randomness beacon which can tolerate up to ⅓ of malicious activity while still maintaining liveness, and up to ⅔ of malicious activity while remaining unbiasable and unpredictable. 

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. Read our FAQs for answers to the key questions you may have about participating in the NEAR protocol.

Frequently Asked Questions

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

NEAR explorer:
NEAR wallet:

Figment is currently developing the NEAR Hubble explorer.

When are staking rewards enabled? When are transfers enabled?

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.

What is the name of the asset being staked?

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

Which type(s) and what rate of rewards can I expect? Can I stake locked/vesting tokens?

In short: you can stake locked tokens to earn ~22% yearly 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.

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

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:

Figment has partnerships with a number of top-in-class custodians:

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.

How long does it take to unstake?

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.

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

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.

Can I lose out on potential rewards?

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?

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

NEAR Protocol launching 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.

How are decisions about NEAR's protocol made and executed?

In short: on-chain governance via validator token voting

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