NEAR governance votes to cut issuance, trimming staker yield to 3.37%

On Monday, the NEAR House of Stake voted to approve proposal HSP-029. This proposal lowers the network’s annual token issuance limit from 2.5% to 1.6%. As a result of the cut, the proposal’s own modeling shows that the gross staking yield will drop from about 5.27% to about 3.37%. Validator commission revenue would drop about 36% 90% of newly minted NEAR goes to stakers and 10% to the treasury. HSP-029 , authored by SVRN chief executive Sal Ternullo, keeps the split and changes one parameter. The yields assume a staking ratio of 42.71% of supply, a measure of the share in a Sept. 22 snapshot. NEAR climbed 86% in the two weeks leading up to the snapshot to $4.30, while the staking ratio dropped from 46.92%.

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