NEAR holders back plan to slow token creation by more than a third

Token holders have approved proposal HSP-029, cutting NEAR’s maximum annual issuance rate from 2.5 % down to 1.6 %. Roughly 3.29 million votes were cast in favor, with none against.

The reduction will roll out gradually over 24 months. Under the new schedule the network would mint 11.8 million fewer tokens in the first two years and 66.1 million fewer over six years.

Staking yields would also fall: assuming steady participation, gross annual returns would drop from about 5.27 % to 3.37 %. The Security Council now has until 16 November to veto the change. Validators must then upgrade the protocol, after which a 90-day waiting period begins before the new rules take effect.

Based on information from cryptonews.net