NEAR governance votes to cut max token issuance to 1.6%
NEAR's House of Stake has passed HSP-029, trimming the network's annual issuance ceiling from 2.5% to 1.6% on a 24-month schedule.
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Key takeaways
- House of Stake passed proposal HSP-029 on NEAR.
- The maximum annual issuance rate drops from 2.5% to 1.6%.
- The reduction phases in over 24 months, not overnight.
- Lower issuance means fewer new tokens entering circulation.
NEAR holders have voted to slow the creation of new tokens. The network's House of Stake governance body passed HSP-029, which lowers the maximum annual issuance rate from 2.5% to 1.6%.
What's changing
The cut doesn't happen overnight. It phases in over 24 months. And it's the ceiling that moves, meaning the maximum rate the network can issue at, not a fixed rate of new supply.
That's the extent of what we know right now. The source reporting doesn't give the month-by-month schedule or the vote tally, so the proposal itself is where to look for both.
Why it matters
Start with what issuance does. It's the price of securing a proof-of-stake chain: new tokens pay validators and stakers, and everyone who doesn't stake absorbs the dilution. Lower the ceiling and you get less dilution. That helps holders who don't stake, and it means rewards put less sell pressure on the market.
There's a trade-off, though. Staking yields usually track issuance, so a lower ceiling can squeeze rewards unless staking demand or network fees fill the gap. Whether validators and stakers stay content at 1.6% is the real question for the next two years.
Source: The Block
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Daniel Okoro
Daniel tracks crypto regulation and policy across the US, EU and Asia, with a decade in financial journalism.
