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    Near Fees & Revenue 2024

    NEAR is a blockchain platform designed to help developers build scalable applications for billions of users, across multiple blockchains.

    Transactions on NEAR consist of one or more actions, each consuming a fixed amount of gas units. These gas units are converted into a fee paid in NEAR tokens, which users must cover for their transactions to be processed.

    Gas Fees (Execution Fees)

    NEAR charges a small fee, known as gas, on every transaction. This fee serves several important purposes:

    • Spam Prevention: Gas fees discourage malicious actors from spamming the network with meaningless transactions.
    • Token Burn: A tiny fraction of NEAR tokens is burned with each transaction, reducing the token supply over time.
    • Developer Incentives: Smart contract developers receive 30% of the gas fees generated by their contracts as an incentive for maintaining and improving them.
    • Performance Cap: NEAR enforces a wall time by limiting transactions to 300Tgas, which is roughly equivalent to 300 milliseconds of compute time.

    Shoutout to the amazing Flipside Team, MasI and Sajjadiii for their incredible dashboard, providing valuable insights into the NEAR ecosystem!

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    Near Fee
    Revenue and Burned Fees
    According to the "Gas as a Developer Incentive" section in the NEAR documentation, 30% of the gas fees burned during contract execution are allocated to the contract's account.
    Chain Fees
    Disclaimer: Flipside AI is here to help but it can make mistakes. Always review outputs and use the upvote/downvote buttons to help us improve. This content is not financial advice.