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NEAR Governance Approves Plan to Lower Annual Issuance to 1.6%

HSP-029 outlines a 90-day grace period after ratification and a 24-month phase-in. The change still requires a protocol upgrade adopted by validators.

By Simon Yoon
Published
An unmarked metal token approaches a narrowing mechanical gate / TokenPost.ai
An unmarked metal token approaches a narrowing mechanical gate / TokenPost.ai

NEAR governance approved a plan to reduce the maximum annual issuance of the NEAR token (NEAR) from 2.5% to 1.6%, lowering the target for how quickly new tokens can enter circulation.

HSP-029 sets a 90-day grace period post-ratification, then a 24-month reduction pending validator adoption of a protocol upgrade. The proposed lower rate could also reduce staking rewards.

TokenPost covered the issuance proposal while the governance vote was open.

Simon Yoon

Reporter

Simon Yoon reports on blockchain technology for TokenPost. Send corrections or tips to info@tokenpost.com.

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