Back to News

NEAR Foundation Partners with NEAT Protocol

Twitter icon  •  Published för 3 månader sedan  •  Hassan Maishera

The Near Protocol announced via a blog post on Tuesday that the NEAR Foundation has partnered with NEAT, a roll-up protocol designed for scaling AI applications on NEAR.

The Near Protocol announced via a blog post on Tuesday that the NEAR Foundation has partnered with NEAT, a roll-up protocol designed for scaling AI applications on NEAR.

Thanks to this partnership, NEAT has received a 1 million $NEAR token staking delegation from the NEAR Foundation. All NEAR token rewards from the delegation will be redistributed to $NEAT stakers, producing approximately 120-200% APY.

The funding is part of the NEAR Foundation’s efforts to support AI and blockchain projects on NEAR and to promote use cases of AI integration with blockchain technology more broadly. NEAT Protocol will use the funds to attract a wider user base to its ecosystem.

NEAR Protocol is a decentralized application platform designed to make apps similarly usable to those on today’s web. The network runs on a Proof-of-Stake (PoS) consensus mechanism called Nightshade, which aims to provide dynamic scalability and stabilize fees.NEAR is trading at $7.841, up by 1% in the last 24 hours.

Next article Trump Pledges to Make USA a Crypto Hub if Re-Elected

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.