NEAR Protocol posted on X that Sal Ternullo, CEO of SVRN, NEAR’s treasury company, has introduced a new proposal on the NEAR Governance Forum to reduce NEAR’s annual maximum token issuance rate from 2.5% to 1.6% for 24 months, and to lower the staking yield from the current rate of approximately 5.4% to approximately 3.5%. The proposal is currently seeking feedback from validators, House of Stake delegators, and NEAR community members, with the full proposal expected to be published next week for voting. Regarding the recent NEAR Intents security incident, NEAR Protocol further clarified that the blockchain network is operating normally; the incident was not caused by any vulnerability in NEAR Protocol or its native token, NEAR. The NEAR Protocol network continues to produce blocks and process transactions without any downtime.
NEAR Proposes Reducing the Annual Maximum Token Inflation Rate to 1.6%
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Summary
NEAR Protocol is proposing a reduction in the annual token maximum inflation rate from 2.5% to 1.6% over 24 months, according to interest rate news. SVRN CEO Sal Ternullo also suggested lowering staking yields from 5.4% to 3.5%. The plan is currently under discussion with validators and the NEAR community, with a vote expected next week. NEAR also shared inflation data confirming that no protocol or token vulnerabilities were involved in the recent NEAR Intents incident.
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