What is Near Protocol?

Near protocol is a layer-1 blockchain that aims at delivering more interoperability, low fees, better transaction speed, and higher throughput than Ethereum. Its programming language, Rust, makes the protocol different in its unique approach to Sharding and use of the Doomslug consensus mechanism. The near protocol was created by Alex Skidanov and Illia Polosukhin in 2018, but the mainnet didn't go live until 2020.

What is NEAR? 

The NEAR token keeps the network's security by paying validators. It is also used to power smart contracts, Dapps, and transactions on the protocol. Until recently, becoming a validator and holding were the two ways to earn, but now, staking has been introduced to enable everyone to earn passively on their holdings. Stakers can deposit their NEAR in a validator pool to earn some yields over time. 

NEAR can also be used for governance on the protocol. For example, developments and marketing strategies can be proposed and deliberated on using the Near token, or the token's voting rights can be delegated to validators to make decisions on their behalf.

Should I buy the NEAR token?

The projects offering smart contract integration are becoming the norm. Still, a project launched a year ago to be in the top ten protocols offering smart contracts makes it worth looking into. It is not without its risks, as it is unclear how Ethereum's fork into the proof-of-stake network will affect all other projects offering smart contracts and Dapps integration. However, its market cap of about $5 billion is worth risking some funds into it.

How to get an instant NEAR Protocol loan

Don’t sell your NEAR. Use it as collateral for an instant crypto loan and get up to 90% of your collateral’s value in a variety of currencies. We have NEAR to USD loans, NEAR to EUR loans, NEAR to GBP loans, NEAR to CHF loans, and stablecoin loans as well. Simply deposit NEAR today, choose a loan plan – or create a custom one yourself – and you’ll receive up to 30,000 in a currency of your choice in seconds. 

How to borrow NEAR Protocol - How does it work?

With our Crypto-Backed Loan service, you can borrow BTC, USDT, USD, EUR, GBP, or CHF only. That means if you want to borrow NEAR you first must convert one of the above to fiat and convert it to NEAR using our exchange service. 

NEAR Protocol loan calculator

You can use our NEAR loan calculator with different loan plans to find the best option for you. You can see all parameters on the form such as loan duration, price down limit, and loan repayment. If you want to loan NEAR Protocol, please check the calculator first to see which plan works best for you. 

NEAR Protocol lending process

NEAR Protocol lending is easy with YouHodler. Just open and verify your account, deposit your crypto to the wallet and use it as collateral for your future NEAR loans.