Was kinda confusing
Some eggs made the cut, others didn't
Got bored and forgot about it
NEARWEEK Daily Newsletter 📩
Wednesday, October 02, 2024
💥 Big things around the ecosystem 💥
ON–276: NEAR Mega Issue ⋈
https://x.com/ournetwork__/status/1841161743659151825
NEAR ALPHA FOR YOUR DAILY GRIND
https://x.com/NEARWEEK/status/1841466846286885233
🪅Events🪅
The Near Alpha Show
https://x.com/NEARWEEK/status/1841182164521796070
Join the NEARDevHub as they sit down with the Masa team to talk AI, the REDACTED online Hackathon
https://x.com/NEARProtocol/status/1841294508199227483
Tune for the latest NEAR AI Office Hours with Jason Warner from Poolside.ai
https://x.com/i/broadcasts/1eaKbaXkXOrxX
💰 DeFi 💰
Meta Pool : One day +50% APY
https://x.com/meta_pool/status/1841388412693082154
🔼 Projects update 🔼
Future of software will have 3 layers
https://x.com/ilblackdragon/status/1841238657631437283
Join us with the NEAR ecosystem from Nov 9-11 to explore the future of the Internet
https://x.com/NEARWEEK/status/1841379740109717551
Get Ready for Calimero’s Exciting New Privacy-Focused Hackathon Series
https://x.com/theRZLT/status/1841451333905228233
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NEAR Protocol incorporates a burning mechanism primarily through transaction fees and penalties for validator misconduct.
### Transaction Fee Burning
NEAR Protocol burns 70% of all transaction fees collected on the network. This fee-burning mechanism helps counteract the inflation caused by the annual issuance of new tokens, which is set at 5% of the total supply. As network usage increases, this burning process contributes to a deflationary effect on the NEAR token supply, making it more scarce over time[2][4].
### Validator Slashing
Additionally, NEAR employs a slashing mechanism to penalize validators for malicious behavior, such as double signing. When a validator is slashed, a portion of their staked tokens is burned. For instance, if a validator with 1% of the total stake double signs, they could lose 3% of their stake, which would be burned rather than redistributed[1][2]. This serves both as a deterrent against dishonest actions and as a method to maintain network integrity.
In summary, NEAR's burning mechanisms are integrated into both its fee structure and its validator penalty system, fostering a more sustainable economic model for the protocol.
It was in beta just seeing what the response would be. The whole thing just kinda took on a life of its own.
Читать полностью…The shells turn into your new egg. That allowed staking. Next phase is hatching then into dragons
Читать полностью…