NEAR Foundation Proposes Establishing Sovereign Wealth Fund, with Long-Term Goal to Reduce Inflation

August 4th, NEAR Co-Founder Illia Polosukhin proposed the establishment of the NEAR Sovereign Wealth Fund to manage protocol treasury assets and revenue.

According to the proposal, the fund will hold relevant assets in NEAR tokens to generate income, with a portion of the earnings allocated to support network security and public goods.

The long-term goal of this fund is to use the proceeds to support protocol expenses and gradually reduce NEAR's inflation rate.