NEAR Protocol Voters Approve Gradual Token Issuance Cut

TLDR NEAR Protocol’s House of Stake approved HSP-029 with 99.97% support from participating voting power. The proposal will gradually reduce maximum annual NEAR issuance from 2.5% to 1.6% over 24 months. The network will maintain its existing allocation of 90% of new tokens to stakers and 10% to the treasury. The proposal projects 11.8 million fewer NEAR tokens issued over two years and 66.1 million fewer over six years. Estimated gross staking yields could decline from 5.27% to 3.37% once the new issuance target is reached. NEAR Protocol’s House of Stake approved HSP-029 on November 2 to cut maximum annual NEAR issuance from 2.5% to 1.6%. The reduction would unfold over 24 months, not immediately. The vote drew support from 99.97% of participating veNEAR.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to CoinCentral.