NEAR Governance proposal HSP-029 launches a vote to reduce the maximum annual issuance rate to 1.6%
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AT A GLANCE
NEAR Launches a vote on the HSP-029 proposal to reduce the maximum annual issuance rate from 2.5%gradually to 1.6%。
Article
NEAR Launches a vote to reduce the maximum annual issuance rate from 2.5%to 1.6%
PANews October 21 According to The Defiant,NEAR the governance body House of Stake has launched a vote on the HSP-029 proposal, which seeks, after a buffer period of approximately 90 days, to use 24 months to reduce the NEAR token's maximum annual issuance rate from 2.5%linearly to 1.6%. According to the proposal, over the next 2 years, approximately 11800000 fewer tokens would be issued; over NEAR，6 years, approximately 66100000 fewer tokens would be issued in total, reducing supply by approximately 4.36%compared with the current policy; total staking yield is expected to decline from 5.27%to 3.37%. The proposal must receive supermajority support and be adopted by validators through a network upgrade before taking effect.
PANews reported, citing The Defiant, that NEAR the governance body House of Stake has launched a vote on the HSP-029 proposal.
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The proposal seeks, after a buffer period of approximately 90 days, to use 24 months to reduce the NEAR token's maximum annual issuance rate from 2.5%linearly to 1.6%。
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According to the proposal, over the next 2 years, approximately 11800000 fewer tokens would be issued; over NEAR，6 years, approximately 66100000 fewer tokens would be issued in total.
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According to the proposal, supply would be reduced by approximately 4.36%。
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Total staking yield is expected to decline from 5.27%to 3.37%。
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The proposal must receive supermajority support and be adopted by validators through a network upgrade before taking effect.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This is a proposed adjustment to token issuance rules that remains in the voting stage. If implemented as proposed,NEAR the maximum proportion that can be newly issued annually will gradually decrease over 24 months; meanwhile, the proposal expects total staking yield to decline as well.
Why it matters to readers
The proposal also involves NEAR in additional supply and total staking yield, which could alter token supply and staking returns, but it has not yet taken effect.
Beginners should distinguish between “launching a vote” and “already implemented”: the parameters in the article are all from a proposal under consideration, and the voting outcome and whether validators adopt the network upgrade should continue to be monitored.
Risks and unknowns
HSP-029 Whether it can receive supermajority support remains uncertain.
Whether validators will adopt the proposal through a network upgrade remains uncertain.
The final effective date and whether the parameters remain unchanged are uncertain.
The reduced issuance amount, supply reduction percentage, and staking yield are all proposal terms or estimates and have not yet become actual results.
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Related concepts
Maximum annual issuance rate
This term is not in the glossary yet. Browse related concepts in the glossary.
