# NEAR Governance Approves Plan to Lower Annual Issuance to 1.6% By Simon Yoon Canonical URL: https://www.tokenpost.com/news/technology/47033 Published: 2026-11-02T23:23:17.000Z Updated: 2026-11-02T23:23:17.000Z Section: Technology > 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. 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](). ## Links in this article - [issuance proposal while the governance vote was open](https://www.tokenpost.com/news/technology/36519)