$Nexi A truly precious gem Add it to your wallet An investment very close at hand You’ll thank me later 💲💲🐋

An incident like this always catches my attention, especially when the issue directly involves a smart contract and the loss amounts to approximately $3.8 million. What stands out is that NEAR Intents has stated they’ve identified the vulnerability, patched the contract, and committed to fully reimbursing all affected funds. They’re also collaborating with security teams to trace the stolen funds. But in DeFi, I think this serves as a clear reminder: no matter how large a protocol is, technical risks will always exist. After an incident, what I care about most isn’t just “how much was lost,” but rather where the root cause lies and how the team responds afterward. What do you think is more important after incidents like this—robust security from the start, or how the project reacts when something goes wrong?

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.

NEAR Intents just lost $3.8M—NEAR holders are probably having a hard time sleeping tonight. :(((( Personally, the most important point is that NEAR Protocol must be separated from NEAR Intents: the exploit occurred at the application/infrastructure layer of Intents, not because the NEAR blockchain was hacked. The team says they’ve patched the vulnerability and are working on refunds for affected users. But with $3.8M lost and NEAR’s price reacting sharply to the news… are holders still staying calm?

Today SHIELD caught an attack on Intents itself. $3.8M left through a bug in the Omni deposit and withdrawal path, isolated to USDT on BSC. SHIELD flagged the outlier behaviour, Intents paused, and the fix was in within an hour of detection. The attacker had been working the hole for over four hours before that. Without the detection he had the rest of the night. Affected users are made whole in full. The NEAR protocol, the token and every other app on NEAR were untouched, because the bug lived in one application and not in the chain. For scale, Intents moves over $4B a month and this is the first major exploit it has had. The loss is about a tenth of one percent of a single month of volume. Seven withdrawals got through. The eighth did not.

Credit: #Avalanche which just rolled out a strikingly similar feature that NEAR is now implementing.

Because NEAR paused their applications and not the NEAR blockchain It's confusing with all these wannabe Ethereum chains, which I can't be bothered tracking They could have worked on Ethereum but instead they wanted L1 premium to presumably try to get rich - good luck with that If you're truly public and permissionless then all the best End of the day that's what Satoshi wanted Satoshi's definition of crypto: “I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party.” - Satoshi Nakamoto ------ If there's a third party involved, it's CeFi Same third parties, same KYC AML and same processing fees

From 1 billion... to 500 million... to 354 million. $RUNE keeps getting scarcer and scarcer. Here's a timeline of how @THORChain's native token's supply got cut by nearly two thirds... [June 2019] The $RUNE tokens launches with a maximum supply of 1 billion tokens. [October 2019] THORChain executes a massive token burn, removing half of all $RUNE tokens forever, brining max supply down to 500 million. These tokens were mainly taken from team and seed operational tokens. [April 2026] ADR-023 permanently burns the vast majority of the THORChain Reserve module's $RUNE holdings. Combined with ongoing network-wide fee burns and algorithmic deflationary sinks, $RUNE's total supply has been brought down to around just 354 million... ... around 93% of which is already in circulation.