In early 2024, the Notcoin project attracted the attention of Telegram users who wanted to mine NOT tokens. The success of the project was so immediate that numerous similar projects soon began to appear.
NEAR Wallet
One of the alternatives to the sensational Notcoin is the NEAR Wallet, which runs on the NEAR blockchain and is available as a Telegram Web App. The project is actively supported by the creator of the network, Ilya Polosukhin. NEAR Wallet is a non-custodial wallet that functions as a web application on Telegram and supports NEAR network assets, including HOT tokens. This is the first time that the token is used as a full-fledged cryptocurrency.
How to create NEAR Wallet?
NEAR Wallet allows users to send, receive, and stake NEAR tokens. To do this, you need to create a wallet in the bot.
- Create a NEAR Wallet wallet using the official NEAR Wallet bot – mine HOT.
- Type /start and select Open Wallet.
- Select Log in to import an existing wallet if you have one.
- To create a new wallet, select Create new account. At this stage you will be asked to generate a seed phrase. Write it down and don’t give it to anyone. Seedphrase is a unique sequence of 12 English words. If someone gets access to your seed phrase, they will be able to control your funds, so be careful.
- A wallet address will be created automatically based on your Telegram nickname.
- After completing registration on NEAR Wallet, the user will be awarded a bonus in the amount of 0.01 HOT. In addition, HOT mining will start automatically immediately after creating the wallet.
How to start mining HOT
After creating NEAR Wallet, you will be taken to the main menu. To activate mining, click on the “Claim” button. That’s all you need to get started. The extraction of tokens will continue even in your absence, but at the initial stage you will need to log in every 2 hours and collect coins by pressing the “Claim HOT” button.
There will be a gas fee to collect HOT tokens, as all transactions in NEAR Wallet are real and require costs to confirm the operation on the blockchain. You can pay for gas in the following ways:
- Free transactions (initially 3 free transactions will be available, their number can be increased by completing tasks such as subscribing to social networks).
- Payment in NEAR tokens (just top up your wallet with a few tokens, this will be enough to cover the commission for a long period).
- Payment with HOT tokens (a free method in which the network fee will be deducted from the tokens earned, but on a long-term basis it is more profitable to pay for gas using NEAR).
NEAR Wallet boosts and storage
Initially, the storage can receive tokens no more than 2 hours with a frequency of 0.01 HOT per hour. After this, the mining process is suspended until tokens are collected. To increase storage fill time and increase mining speed, various improvements are provided:
- Storage (increases storage fill time)
- Fireplace (increases the speed of obtaining tokens)
- Wood (multiplier that accelerates HOT mining)
Storage: There are six levels of storage. It is recommended to upgrade it no more than two or three times in order to enter the game a little more often (every 4-6 hours), but spend less on upgrades and, accordingly, accumulate more HOT tokens.
Fireplace: This is one of the most important parameters that allows you to get more HOT tokens per unit of time. The base mining speed is 0.01 HOT per hour, but with the help of these same tokens you can increase the mining speed by improving the level.
Wood: Used to complete special missions that greatly speed up the mining process. Completing each mission allows you to rise to a new level, increasing the coefficient, which is a multiplier for the Fireplace level. Tasks can be completed in any order. At the moment, there are six levels (with multipliers from 1 to 2.5) and four tasks.
History and prospects
The project launched on January 31, 2024 and attracted 200,000 users in the first day and a half thanks to almost free HOT mining. NEAR Wallet is essentially a lightweight version of HERE Wallet for mobile devices. The developers probably have high hopes for the Telegram version, otherwise the NEAR Foundation would not promote the application on its social networks.
Exchange support
The project quickly received support from major cryptocurrency exchanges such as Binance, Gate.io, OKX, which announced the possibility of using their platforms to deposit funds on the NEAR network. There are rumors that the tokens will also be circulated on WhiteBit with Bingx.
Achievements
In an interview with Incrypted, the head of HERE Wallet, Peter Volnov, noted that over 470,000 users have registered accounts with NEAR Wallet, of which more than 350,000 are engaged in HOT mining daily. This is a new record for the NEAR ecosystem.
NEAR Wallet Affiliate Program
Attracting new users is the most effective method of increasing tokens in NEAR Wallet. For each referral mark you will receive 20% cashback and 5% for each second-level referral mark:
- 20% income from first level referrals
- 5% income from second level referrals
Villages
On February 10, a new method of mining HOT was launched together with the community in the villages. An active participant creates his own village and invites friends and other users there. Each time a new villager is recruited, 5% of the amount is sent to the village’s general fund as a bonus. These funds can be shared among participants or used to develop the community.
Management
The process is quite simple and straightforward. Be sure to re-read the manual if you still have questions. In a nutshell: log into the bot, mine and accumulate HOT tokens, complete all available tasks, and we hope to receive an airdrop for activity and see a favorable price on listings.
Withdrawing funds from NEAR Wallet
At this stage of farming it is not possible to withdraw Hot coins. But the developers promise that such an opportunity will appear soon. Most likely, farming of this token will then stop.
Conclusion
The rapid growth in popularity of NEAR Wallet demonstrates the high demand for simple ways to earn tokens without investing money. Like Notcoin, this application opens up great prospects for promoting blockchain technologies in Telegram. HOT mining attracts many new users, but time will tell whether it will be possible to retain the audience after the token distribution ends. In any case, the marketing strategy was very successful during the product launch phase.
