Markets Published Nov 3, 2026
The suggested issuance reduction will stop 11.8 million NEAR tokens from entering the circulating supply over a two-year timeframe, which equates to roughly $45 million based on current valuations.
The native token of Near Protocol, NEAR, declined by approximately 7% on Tuesday, notwithstanding the community’s greenlighting of a measure to gradually trim the maximum yearly creation rate from 2.5% down to 1.6% across a 24-month span.
NEAR exchanged hands at $3.82 as of 11:06 am UTC, deepening its weekly loss to around 13%, according to CoinMarketCap.
This recent decrease followed Monday’s authorization of HSP-029, which secured backing from 99.9% of the participating voting power. Roughly 3.28 million vote-escrowed NEAR (veNEAR) tokens were cast in favor, according to data from the NEAR House of Stake governance platform.
The initiative aims to decrease long-term token inflation while simultaneously bringing down anticipated gross staking returns from 5.2% to 3.3% by the conclusion of the 24-month period. Projections indicate that issuance will drop by 11.8 million NEAR over the course of two years and by 66.1 million NEAR across six years.
The measure is still subject to a 14-day veto window held by the Security Council. Should it avoid a veto, it will become officially ratified, initiating a subsequent 90-day grace period prior to the actual commencement of the issuance cut. Execution additionally demands that validators implement the necessary technical upgrades.
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Originally published at https://cointelegraph.com/markets/near-sinks-7-proposal-cut-annual-token-issuance-passes?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound.