Primitives are fundamental building blocks that can be combined to create a fully functional application. Blockchain primitives include Fungible Tokens (FT), Non Fungible Tokens (NFT), Decentralized Autonomous organizations (DAO), DEXs, Oracles, and Staking.
Fungible Tokens (FT)
Fungible tokens represent an asset on a blockchain that is interchangeable. Besides the native NEAR token, users can issue their own fungible tokens or use those that are already present in the ecosystem.
Fungible Tokens are ideal to create reward systems, fair tickets and any other type of token.
Non Fungible Tokens (NFT)
In contrast with fungible tokens, each non-fungible token (NFT) is unitary and therefore unique. Users can create their own non-fungible token, transfer to other users, or exchange them in marketplaces.
NFTs are ideal to represent ownership of assets such as collectibles, event tickets and other unique assets.
Decentralized Autonomous organizations (DAO)
Decentralized Autonomous Organizations (DAOs) are self-organized groups that form around common purposes. Membership, decision making, and funding are coordinated by publicly voting on proposals through a smart contract.
DAOs are ideal to create decentralized governance, funding, and decision-making tools.
Decentralized Exchanges (DEX)
Decentralized Exchanges (DEXs) are applications that allow users to trade tokens through smart contracts. DEXs work by having pools of token pairs that users can deposit tokens into and swap between different assets.
DEXs enable trustless token trading, liquidity provision, and decentralized price discovery.
Oracles
Oracles serve as intermediaries that connect smart contracts with external (off-chain) data. They provide real-time pricing for cryptocurrencies, event information, and API access to external web services.
Oracles are essential for price feeds, real-world data integration, and connecting blockchain to external systems.
Staking
Liquid Staking is a modern alternative to regular staking on NEAR that allows you to stake your tokens while maintaining liquidity. Your stake is represented by a liquid token that can be traded or used in DeFi applications.
Liquid Staking provides instant liquidity, validator diversification, and the ability to use staked assets in DeFi.