NEAR Launches Vote to Cut Maximum Annual Issuance Rate from 2.5% to 1.6%

PANews, October 21 - According to The Defiant, NEAR's governance body House of Stake has opened voting on proposal HSP-029, which aims to linearly reduce the maximum annual issuance rate of NEAR tokens from 2.5% to 1.6% over 24 months, following a buffer period of about 90 days. Under the proposal, roughly 11.8 million fewer NEAR will be issued over the next 2 years, and about 66.1 million fewer over 6 years combined, reducing supply by about 4.36% compared with the current policy; total staking yield is expected to fall from 5.27% to 3.37%. The proposal requires supermajority support and adoption by validators through a network upgrade before it can take effect.