Do I need to be holding NEAR to participate in staking?
Yes, in order to stake NEAR protocol (NEAR), you first need to deposit NEAR into your account.
Can I unstake NEAR at any time?
You can stake and unstake at any time. However, please note that the processing time to unstake NEAR is 3 days.
Which network can I use to deposit NEAR?
Currently NEAR can only be deposited by using the native Near protocol network. Make sure to only deposit native NEAR to your account. Please refrain from using other networks/blockchains when depositing NEAR to your Bake account, as it will otherwise result in the loss of your coins.
How long do I need to wait after staking to begin earning rewards?
Rewards are earned after staking with the next reward cycle. The first rewards can be seen after 12-24 hours.
How often do I get rewards in NEAR protocol staking?
Rewards are paid out twice a day.
What are the advantages of staking NEAR on Bake?
Stake and Unstake anytime - there’s no lock up period. You may easily stake and unstake crypto at your convenience.
Receive staking rewards in-kind, i.e. in NEAR token - less hassle, and rewards can be auto-compounded.
Receive rewards 2x a day - staking rewards are paid out every 12 hours.
Gain full transparency on your rewards - rewards can be tracked on-chain via a staking address. You may be able to verify here anytime.
Benefit from other Transparency & Security Protocols - as a Singapore-headquartered fintech company, we continuously find innovative ways to provide security and transparency to our users. For more information, you may click here to read about Proof of Reserves and Liabilities or here to read about relevant platform features and protocols.
For more information about Staking, please check our other Staking FAQs.