Validators process transactions and receive validator rewards (supply-side fees).

NEAR Protocol is a smart contract platform for decentralized applications (a blockchain). NEAR Protocol was founded by Alexander Skidanov & Ilya Polosukhin and launched in 2017.

NEAR holders own and govern the protocol. They currently take (burn) all of the total transaction fees paid by users (revenue). NEAR Protocol's investors include a16z, Pantera Capital, Libertus, etc.

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Blockchains (L1)

NEAR Protocol

# near Staking Market Cap Methodology

## 1. Overview

The total market value of all NEAR assets currently staked on the Near network is measured by Staking Market Cap. This metric is utilized to quantify the economic security of the network and the level of participant commitment to the Proof-of-Stake consensus mechanism. Staking Market Cap is calculated by aggregating the staked balance of every account on the network and converting the total value to USD.

## 2. Data sources

- **Blockchain events**: `account_changes` and `receipts` from the Near network
- **External data**: End-of-day price feeds for the NEAR asset

## 3. Step-by-step calculation

### Component A: Staked balance extraction

- **Purpose**: Extract the staked balance associated with every account on the network
- **Logic**: Staked balance changes are parsed from `account_changes` records and joined with transaction `receipts` to establish a chronologically ordered sequence of balance updates. This extraction identifies the specific `affected_account_staked_balance` for every account involved in a state change.
- **Key fields**: `affected_account_staked_balance` (raw staked balance), `affected_account_id` (account identification), `block_timestamp` (timing)

### Component B: Daily account state tracking

- **Purpose**: Determine the daily staked balance for all active accounts
- **Logic**: The final staked balance record for each account is identified for every UTC day based on the latest transaction within that period. To ensure a continuous and accurate time series, balances for inactive accounts on any given day are forward-filled using the last known staked balance state.
- **Key fields**: `staked_balance`, `account_address`, `timestamp`

### Component C: Aggregation and USD conversion

- **Purpose**: Calculate the total network-wide staking value in USD
- **Logic**: Individual account staked balances are summed daily to calculate the total aggregate staked supply of the network. These quantities are normalized by decimal precision and multiplied by end-of-day price feeds to arrive at the final Staking Market Cap value.
- **Key fields**: `staking_market_cap` (aggregated staked balance), `price` (asset price in USD)

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Value of native tokens currently staked to secure a proof-of-stake network.

NEAR ProtocolNEAR

Staking market cap

Staking market cap

Competitive landscape