NEAR's maximum annual inflation rate will be reduced in stages from 2.5% to 1.6%.

November 3: NEAR's decentralized on-chain governance body House of Stake has voted to pass a proposal to reduce NEAR's maximum annual inflation rate from 2.5% to 1.6%, implemented in phases over 24 months. Officials stated that token holders can publicly vote on core parameters, with the new rate taking effect epoch by epoch according to a published schedule, thereby lowering long-term inflation in a verifiable manner.

The subsequent process is as follows: the House of Stake Security Council will first review the results before approval; after approval, there will be an approximately 90-day grace period; validators will then adopt the change through a protocol upgrade to make it effective; afterward, the inflation rate will be reduced epoch by epoch, reaching 1.6% by the 24th month, with actual inflation tracked against the schedule in quarterly reports.