House of Stake Votes to Pass, NEAR Maximum Annual Issuance Rate to Drop to 1.6%

Public blockchain NEAR Protocol stated on X that its decentralized on-chain governance body, House of Stake, has voted to approve a proposal to reduce the maximum annual issuance rate of NEAR from 2.5% to 1.6%, to be implemented in phases over 24 months. Token holders adjusted this core parameter through a public vote, and the new rate will take effect epoch-by-epoch according to the published schedule. The proposal, numbered HSP-029, was submitted by Sal Ternullo of SVRN, and its forum status is marked as passed.

The proposal retains the original allocation ratios—90% to staking participants and 10% to the treasury—only lowering the issuance cap parameter. Officials stated that long-term issuance will decline, and the supply schedule is verifiable. The subsequent process is as follows: the House of Stake Security Committee reviews the voting results before approval; following approval, a grace period of approximately 90 days begins; the change becomes binding only after validators adopt it via a protocol upgrade. Thereafter, the issuance rate will gradually decrease each epoch, reaching 1.6% by the 24th month, with quarterly reports tracking actual issuance against the schedule.

[ChainCatcher]