NEAR

Last updated: Oct 23 2020

Protocol teams occasionally change the delegation / staking process. If the following instructions do not work, please email support@bisontrails.co for assistance.


NEAR Protocol is a scalable blockchain designed to provide the performance and user experience necessary to bridge the gap to mainstream adoption of decentralized applications.

Service Fee

10%

Unbonding Period

36—48 hrs

 

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Bison Trails’ Staking Pool ID

bisontrails.poolv1.near

Delegation Instructions

Before you start

In order to delegate, you must install the Node.js Pack Manager and NEAR CLI to perform the tasks listed below. All commands can be run in the Terminal on your computer.



Install NPM and NEAR-CLI

  1. Download and install the node.js most compatible with your system at this link or this link. (We recommend to download the LTS version that is recommended for most users, not the one with the latest features.)
  2. Confirm the installation by running this command in your terminal: node -v

    A successful installation will return a version number.
  3. Install Near-shell
  4. Run this command: sudo npm install -g near-cli

    Confirm the installation by running: near -h

    A successful installation will return a list of available commands for interacting with the network.

If you are delegating from a lockup contract…

1. CONFIRM OWNERSHIP OF YOUR LOCKUP CONTRACT.

  • From Terminal, execute the command: near view LOCKUP_CONTRACT get_owner_account_id ‘{}’
  • Match the owner_account_id to the lockup contract ID associated with that owner ID.

2. DESIGNATE THE STAKING POOL WITH WHICH THE CONTRACT SHOULD INTERACT.

  • Execute the command: near call LOCKUP_CONTRACT select_staking_pool '{"staking_pool_account_id": "bisontrails.poolv1.near"}' --accountId OWNER_ACCOUNT_ID

3. DEPOSIT NEAR INTO THE STAKING POOL.

  • Execute the command: near call LOCKUP_CONTRACT deposit_to_staking_pool '{"amount":"N000000000000000000000000"}' --accountId OWNER_ACCOUNT_ID --gas=150000000000000
  • Receive TRUE or FALSE value, along with your transaction receipt and a URL to view your transaction in the explorer.

4. STAKE TOKENS THAT WERE DEPOSITED IN THE STAKING POOL.

  • Execute the command: near call LOCKUP_CONTRACT stake '{"amount":"N000000000000000000000000"}' --accountId OWNER_ACCOUNT_ID --gas=150000000000000
  • Receive TRUE or FALSE value along with your transaction receipt and a URL to view your transaction in the explorer.

If you are delegating from an account…

If using Ledger, skip to step 2 and add --useLedgerKey to the end of the deposit and staking commands.

1. AUTHENTICATE YOUR NEAR WALLET WITH THE CLI.

  • Using the computer on which you installed the NEAR CLI, log into the NEAR wallet site
  • Execute the command: near login
  • Click Allow in the new tab.
  • Enter your Wallet ID.
  • Click Confirm

2. DEPOSIT NEAR TO THE STAKINGPOOL CONTRACT.

  • Execute the command using Bison Trails’ Staking Pool ID bisontrails.poolv1.near: near call <bisontrails.poolv1.near> deposit '{}' --accountId <WALLET_ID> --amount <N>
  • Receive the response: Log [my_validator.stakingpool]: @bt_admin.testnet deposited 100000000000000000000000000. New unstaked balance is 100000000000000000000000000

3. STAKE NEAR TO THE STAKINGPOOL CONTRACT.

  • Execute the command: near call <bisontrails.poolv1.near> stake '{"amount": "N000000000000000000000000"}' --accountId <WALLET_ID>
  • Receive the response: Log [my_validator.stakingpool]: @bt_admin.testnet staking 100000000000000000000000000. Received 100000000000000000000000000 new staking shares. Total 0 unstaked balance and 100000000000000000000000000 staking shares

4. CONFIRM THE TRANSACTION.

  • Go to the NEAR block explorer at https://explorer.mainnet.near.org/accounts/<walletID>

Congratulations! You are now staked to Bison Trails’ Staking Pool.

FAQ

The overall inflation rate on NEAR is 5% per year. It will not meaningfully change in the first few years and does not fluctuate based on staking rate. Validators can expect to receive 4.5% of inflation per year. Given the expected staking ratio is 40%, the expected rate of reward for validators is 11.25%.

Validators as a group are paid a fixed 90% of around 5% of total supply annualized with the other 10% going to Protocol Treasury). For example, in the first year Validators will receive around 45,000,000 Ⓝ. Rewards are distributed per epoch — every half a day.

Each validator receives a reward proportional to their participation. As a validator stakes, how many seats they take is determined via simple auction. After each epoch finishes, the validator will be evaluated based on how many blocks and chunks they produced versus what they were expected to produce. Validators with at least 90% online presence will receive rewards that grow linearly, with 100% of the reward given for those with a 99% or above online presence.

As a delegator, rewards (minus the service fee) compound automatically, meaning they get restaked. They need to be unbonded in order to be accessed.

Slashing is currently disabled. However, if a validator is offline more than 10% of what’s expected, the validator is considered to be offline/unstable, won’t get any rewards, and will be removed from the coming epoch’s validation.

Bison Trails charges a percentage service fee on all rewards earned by tokens delegated to our validator. The service fee is paid to Bison Trails automatically by the protocol. You can then withdraw your rewards from the protocol directly.

Interested in delegating on other protocols?

Have tokens on other networks? Learn more about delegating to our public validators on Celo, Cosmos, Edgeware, Kusama, Livepeer, Ontology, Polkadot, Solana, and more. We also offer dedicated participation clusters.


Contact us




Please review our Digital Asset Rights Delegation Agreement.

bison cool

THIS DOCUMENT IS FOR INFORMATIONAL PURPOSES ONLY. PLEASE DO NOT CONSTRUE ANY SUCH INFORMATION OR OTHER MATERIAL CONTAINED IN THIS DOCUMENT AS LEGAL, TAX, INVESTMENT, FINANCIAL, OR OTHER ADVICE. THIS DOCUMENT AND THE INFORMATION CONTAINED HEREIN IS NOT A RECOMMENDATION OR ENDORSEMENT OF ANY DIGITAL ASSET, PROTOCOL, NETWORK OR PROJECT. HOWEVER, BISON TRAILS (INCLUDING ITS AFFILIATES AND/OR EMPLOYEES) MAY HAVE, OR MAY IN THE FUTURE HAVE, A SIGNIFICANT FINANCIAL INTEREST IN, AND MAY RECEIVE COMPENSATION FOR SERVICES RELATED TO, ONE OR MORE OF THE DIGITAL ASSETS, PROTOCOLS, NETWORKS, ENTITIES, PROJECTS AND/OR VENTURES DISCUSSED HEREIN.

THE RISK OF LOSS IN CRYPTOCURRENCY, INCLUDING STAKING, CAN BE SUBSTANTIAL AND NOTHING HEREIN IS INTENDED TO BE A GUARANTEE AGAINST THE POSSIBILITY OF LOSS. THIS DOCUMENT AND THE CONTENT CONTAINED HEREIN ARE BASED ON INFORMATION WHICH IS BELIEVED TO BE RELIABLE AND HAS BEEN OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE BUT BISON TRAILS MAKES NO REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AS TO THE FAIRNESS, ACCURACY, ADEQUACY, REASONABLENESS OR COMPLETENESS OF SUCH INFORMATION.

ANY USE OF BISON TRAILS’ SERVICES MAY BE CONTINGENT ON COMPLETION OF BISON TRAILS’ ONBOARDING PROCESS, INCLUDING ENTRANCE INTO APPLICABLE LEGAL DOCUMENTATION AND WILL BE, AT ALL TIMES, SUBJECT TO AND GOVERNED BY BISON TRAILS’ POLICIES, INCLUDING WITHOUT LIMITATION, ITS TERMS OF SERVICE AND PRIVACY POLICY, AS MAY BE AMENDED FROM TIME TO TIME.

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Questions?

If you have questions, or if you are interested in running a validator on the Bison Trails platform, please contact us. Our protocol specialists are happy to assist you.