NEAR governance passes proposal to reduce annual issuance cap to 1.6%

On November 3, according to disclosures from the NEAR Governance Forum, House of Stake has passed proposal HSP-029, which plans to gradually reduce NEAR's maximum annual issuance rate from 2.5% to 1.6% over a 24-month transition period.

The proposal maintains the 90% to 10% distribution ratio of newly issued tokens between stakers and the treasury, and includes a one-quarter grace period. As the issuance cap is a protocol parameter, changes must still be adopted by validators through the standard upgrade process, and the governance vote alone will not take effect.