NEAR Governance Vote Passes, Plans to Cut Maximum Annual Issuance Rate to 1.6% Within 24 Months

November 3 — NEAR Protocol posted on X that its on-chain governance body House of Stake has voted to reduce NEAR's maximum annual issuance rate from 2.5% to 1.6%, to be implemented in phases over 24 months. NEAR said token holders decided the core parameter through a public vote, and the new rate will roll out epoch by epoch according to a published schedule, meaning lower long-term issuance and a supply plan that anyone can verify.

The subsequent process includes: the House of Stake Security Council reviews the result before approval; after approval there is a grace period of about 90 days; validators adopt the change through a protocol upgrade and make it binding; token issuance then declines step by step each epoch, reaching 1.6% in the 24th month; quarterly reports will track whether actual issuance is consistent with the plan.