NEAR Governance Vote Passes, Plans to Cut Maximum Annual Issuance Rate to 1.6% Within 24 Months

PANews, November 3 - NEAR Protocol announced on X that its on-chain governance body, House of Stake, has voted to reduce NEAR's maximum annual issuance rate from 2.5% to 1.6%, to be implemented in phases over 24 months. NEAR stated that token holders decided core parameters through public voting, with the new rate rolled out epoch-by-epoch according to a published schedule, implying lower long-term issuance and a supply plan verifiable by anyone.

The subsequent process includes: the House of Stake security committee reviews results before approval; a roughly 90-day grace period follows approval; validators adopt the change through a protocol upgrade, making it binding; token issuance then gradually declines each epoch, reaching 1.6% in the 24th month; quarterly reports will track whether actual issuance aligns with the plan.