NEAR Averaged 46% of Supply Staked in Q3 as Issuance Cut Goes to Vote

NEAR averaged a 46% staking rate in Q3 as gross annualized yield edged down to 4.87%, while a separate governance proposal to reduce issuance remains under a House of Stake vote.

An average of 596 million NEAR was staked during the quarter, against an estimated supply of 1.304 billion tokens. The average amount staked and its share of supply were unchanged from Q2, when gross annualized yield was 4.88%. These are quarterly averages, not a current balance.

NEAR’s target inflation rate fell from 5% to 2.5% in Q4 2025, and the network completed its Halving Upgrade. Gross staking yield stayed nearly unchanged over the following three quarters. Staking rewards are funded by protocol issuance, and yield depends on both the issuance rate and the share of NEAR staked.

House of Stake is voting on HSP-029, a proposal to lower NEAR’s annual issuance ceiling from 2.5% to 1.6% over 24 months. It would retain the current allocation of 90% of new issuance to staking participants and 10% to the treasury.

A House of Stake vote alone would not enact the change; validators would also need to adopt an upgrade. Voting closes Nov. 2 at 11:48 a.m. ET (16:48 UTC).