The NEAR Protocol is considered to be among the most advanced next-generation blockchains in the crypto space.
Its native token NEAR powers the network, and until today has only been available for productive use on the NEAR network itself, and centralized exchanges like Binance.
Today—May 28, 2021—we’re excited to announce that NEAR has been deployed as an ERC-20 token on the Ethereum network, making it immediately available for trading and productive use within the exploding Ethereum DeFi ecosystem.
We couldn’t be more excited to bridge our two ecosystems through a shared NEAR token! — Illia Polosukhin, Co-founder, NEAR Protocol
Trading on SushiSwap and DODO
Currently, there is over $1M USD of trading liquidity on the NEAR-ETH pair—available between SushiSwap and DODO, two great partner exchanges that have shown strong early support for NEAR and Aurora.
Here’s a few things to keep in mind:
- A request has been submitted to MetaMask to add NEAR as a known token in the wallet’s asset list. In the meantime, you can add the token manually with its contract address: 0x85F17Cf997934a597031b2E18a9aB6ebD4B9f6a4
We are thrilled to be the biggest home of the NEAR token on Ethereum. We look forward to exploring further collaborations with this exciting token on the Sushi platform and with the NEAR and Aurora chains. — Team SushiSwap
We are pleased to be one of the first two decentralized trading venues for NEAR tokens on Ethereum. We regard NEAR as a great ally in our quest to bring highly capital-efficient liquidity to different blockchain ecosystems. — Diane Dai, CMO and Co-Founder at DODO
How to move NEAR between NEAR Protocol & Ethereum
Moving the NEAR token between Ethereum and the NEAR Protocol is facilitated by the Rainbow Bridge.
Bridging tokens is a multi-step process:
- Connect your Ethereum and NEAR wallets.
- Choose the direction, and amount of NEAR to transfer.
- Confirm with your wallet on the sending side.
- Confirm with your wallet on the receiving side.
In the case of sending NEAR to Ethereum, the delay between steps three and four is about 16 hours. In the second half of 2021, we’ll be enhancing the bridge to dramatically reduce that delay, without any compromise to security.
Stay in touch!
We hope you’re as excited about this milestone as we are!
And we’re not stopping there. The NEAR Protocol, and recently launched Aurora, have an ethos of relentless execution. Be sure to follow @NEARProtocol and @AuroraIsNEAR to be the first to know, as we continue to develop and innovate in the crypto and DeFi spaces!