NEAR Token Issuance Reduction Proposal Cuts Annual Supply Rate to 1.6%

NEAR Token Issuance Reduction is approved by the House of Stake, which is the decentralized governing body for the NEAR Protocol, reducing the maximum token issuance per year from 2.5% to 1.6%. This process will be implemented over 24 months, with the network being able to increase or decrease its supply of tokens through a schedule that has been disclosed to the public. With this decision, NEAR token holders have the opportunity to affect a crucial aspect of the network’s economy via on-chain governance. The new rate will not be introduced immediately; instead, the NEAR Token Issuance Reduction will happen step by step, with each increase happening within the network epoch. In this way, the changes in token supply will become more transparent to the community.

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