# Near Protocol Staking market cap Methodology

## 1. Overview

Staking market cap measures the value of native tokens currently staked on a proof-of-stake blockchain. It reflects how much capital is helping to secure the network. For Near Protocol, this metric represents the total USD value of all NEAR assets deposited into staking contracts or held in staked accounts by validators and delegators.

## 2. Data sources

- **Blockchain events**: Account changes and transaction receipts from Near Protocol
- **External data**: End-of-day price feeds for the native NEAR asset

## 3. Step-by-step calculation

### Component A: Staked balance tracking

- **Purpose**: Capture the amount of NEAR locked for staking purposes at the account level
- **Logic**: Account state changes are parsed from the core ledger. Every change to an account's staked balance is identified and extracted from the affected account state records. These changes are joined with transaction receipts to ensure the precise chronological ordering of balance updates within each block.
- **Key fields**: `affected_account_staked_balance` (staked amount), `affected_account_id` (account identification)

### Component B: Daily account state derivation

- **Purpose**: Establish a continuous daily snapshot of staked balances for every account on the network
- **Logic**: The final balance update for each unique account is identified for every UTC day. To account for days without activity, the most recent known balance for each account is forward-filled across subsequent days. This ensures that the cumulative network stake is accurately represented even if specific accounts do not trigger balance changes daily.

### Component C: USD valuation and aggregation

- **Purpose**: Normalize native asset quantities and calculate the total market value in USD
- **Logic**: Staked balances for all active accounts are summed to calculate the network-wide total for each day. Amounts are normalized by decimal precision. The resulting aggregate native balance is multiplied by the end-of-day price for NEAR. All calculations are performed at daily granularity using UTC day boundaries.

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

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

Staking market cap

Blockchains (L1)

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.