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About NEAR Protocol
NEAR is the native utility and governance token of the NEAR Protocol, a sharded layer-one blockchain designed for internet-scale scalability and developer usability. As the primary currency of the ecosystem, it is used to pay for transaction fees, data storage, and to participate in the network's Proof-of-Stake (PoS) consensus mechanism. NEAR is positioned as an AI-native platform, providing the infrastructure for user-owned AI, decentralized applications (dApps), and intelligent agents through innovations like chain abstraction and sharding technology. The token is also utilized for protocol treasury funding to support ecosystem development, with an annual issuance of 5% of the total supply allocated toward validator rewards and treasury growth.
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