Odaily Planet Daily News: NEAR Protocol announced 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. After review and approval by the House of Stake Security Committee, there will be a 90-day grace period, followed by adoption through a protocol upgrade by validators; the issuance rate will be gradually reduced each epoch, reaching 1.6% by month 24. Quarterly reports will track actual issuance against the planned schedule.
NEAR Protocol to Gradually Reduce Maximum Annual Inflation Rate to 1.6% Over 24 Months
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Summary
NEAR Protocol, a Layer 1 blockchain using Proof of Stake (PoS) consensus, announced that the House of Stake has approved a plan to reduce the maximum annual inflation rate from 2.5% to 1.6% over 24 months. The Security Council passed the proposal, which includes a 90-day delay before validators implement the changes via an upgrade. The inflation rate will decrease gradually, reaching 1.6% by the end of the 24th month. Quarterly reports will monitor actual token issuance against the planned schedule.
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