The NEAR proposal seeks to reduce the issuance of 66 million NEAR tokens over six years—could scarcity become the next narrative? A new proposal has emerged on the NEAR @NEARProtocol governance forum to gradually lower the annual maximum issuance rate from 2.5% to 1.6% over 24 months, reducing staking yields from the current ~5.4% to ~3.5%, while maintaining the existing 90/10 distribution ratio between stakers and the treasury. The proposal is spearheaded by SVRN @svrn_ai, a Nasdaq-listed NEAR treasury company holding over 55 million NEAR:native tokens. The full proposal will be submitted for voting on House of Stake next week. Two key justifications are provided: the validator set is already oversubscribed, eliminating the need for high issuance rates to attract nodes; and NEAR Intents is generating real revenue, which is being used to buy back NEAR on open markets. At the current 2.5% rate, approximately 89,500 NEAR are issued daily—reducing it to 1.6% would result in 66 million fewer tokens entering circulation over six years.