NEATPrice

(NEAT)

NEAT is a rollup scaling protocol designed for AI and machine learning applications on the NEAR blockchain. Its primary goal is to offer a cost-effective and efficient solution for AI-related data storage, processing, and decentralized applications by leveraging NEAR as a data availability layer. This enables the storage of AI data, parameters, algorithms, models, and outputs as on-chain inscriptions.

NEAT functions as an on-chain data provider for NEAR AI, employing off-chain indexer nodes for execution while relying on NEAR's Layer 1 for data availability. This strategy significantly reduces transaction costs for AI and gaming applications that require extensive computation. The NEAR Foundation actively supports NEAT's role in advancing AI on its blockchain, including a delegation of 1 million NEAR tokens.

NEAT offers a one-key mint function, decentralized operations, low transaction fees, and a user-friendly interface. It includes a staking mechanism for NEP-141 token holders, allowing them to secure the decentralized indexer network and earn rewards. NEAT also provides universal Wrap and Unwrap functionality for smooth conversion between NRC-20 and NEP-141 tokens. Furthermore, it aims to establish a customizable decentralized indexer network to prevent single points of failure.

The NEAT token exists in two forms: NRC-20 and NEP-141. Holders of NEP-141 NEAT tokens can stake them to earn rewards, including fees from wrap/unwrap operations, the NRC-20 marketplace, and a portion of indexing fees. Stakers also receive rewards generated from the NEAR Foundation's 1 million NEAR token delegation. Holders of NRC-20 NEAT tokens are eligible for airdrops of newly minted NRC-20 tokens. NEAT also serves as a utility token within its ecosystem for services/asset payments, DeFi integration, and AI governance.

NEAT tokens can be acquired on decentralized exchanges (DEXs). Rhea Finance is a popular platform for trading NEAT, typically against WNEAR. While NEAT may not be directly listed on all major centralized exchanges, it can often be purchased through Web3 Wallets offered by various platforms, by swapping stablecoins on supported DEXs. Users can generally find guides on how to acquire NEAT through DEXs after setting up a compatible crypto wallet.

To stake NEAT, users must connect their NEAR account to the NEAT platform and specify the desired amount of NEAT tokens. A typical 21-day unstake period applies before tokens can be fully withdrawn. Early withdrawals before this period may incur a penalty, where a portion of the tokens is burned. Staking contributes to network security and enables holders to earn passive income through additional tokens.