NEAR governance vote passes emissions reduction proposal: ma
NEAR Protocol said its on-chain governance body House of Stake has voted to approve reducing the maximum annual issuance rate from 2.5% to 1.6%, phased in over 24 months. The proposal still needs review and approval by the security council, followed by a grace period of about 90 days, after which validators adopt it through a protocol upgrade; the issuance rate will be lowered step by step each epoch, reaching 1.6% in the 24th month.
Event Timeline
- [11-03 00:29] NEAR governance vote passes, plan to cut maximum annual issuance rate to 1.6% within 24 months (PANews)
- [11-03 00:30] Maximum annual issuance rate to drop to 1.6%; NEAR governance vote passes 24-month phased implementation (Odaily)
Background and Impact
On November 3, 2026, PANews (00:29) and Odaily (00:30) reported in succession that NEAR Protocol said in a post on X that its on-chain governance body House of Stake has voted through a core parameter adjustment: reducing NEAR's maximum annual issuance rate from 2.5% to 1.6%, implemented in phases over 24 months. The two sources are consistent in their description of the vote result, the target rate and the implementation period. NEAR said token holders decided the core parameter through a public vote, and the new rate will be rolled out epoch by epoch according to a published schedule, which means lower long-term issuance and a supply schedule that anyone can verify.
According to the process disclosed by both sources, the proposal still needs review by the House of Stake security council before it formally takes effect. There is a slight difference in wording between the two reports: PANews states that the security council reviews the result before approval, while Odaily states that the proposal enters subsequent steps after being reviewed and approved by the security council; the two descriptions differ slightly on the order of review and approval, but both list the security council as a necessary step in the process. After that there will be a grace period of about 90 days, during which validators adopt the change through a protocol upgrade and make it binding; token issuance then declines step by step each epoch, reaching 1.6% in the 24th month. Quarterly reports will track whether actual issuance is consistent with the plan.
From a mechanism perspective, this is an adjustment to an issuance-side parameter, and the materials do not involve changes to other variables. NEAR emphasizes that the new rate advances according to a published schedule and that the supply plan is verifiable by anyone, while quarterly reports provide a means of ex-post verification. Because the implementation period is as long as 24 months, with step-downs epoch by epoch, and the process also requires security council review and a grace period of about 90 days, the pace of change in actual issuance should be judged by subsequent protocol upgrades and quarterly reports. The materials do not disclose the specific vote count, the exact effective date, or any market reaction to the decision.
For market participants following this asset, information on changes to the token supply mechanism is usually synchronized in exchange announcements and asset pages; users can obtain the client through channels such as Huobi HTX registration and APP download, Gate.io registration and APP download, Bitget registration and APP download, Binance registration and APP download, and OKX registration and APP download, and then check official disclosures. Specific arrangements are subject to official information from NEAR and each platform.
Frequently Asked Questions
### Will this adjustment immediately reduce NEAR's actual issuance?
Not immediately. The proposal still needs review by the House of Stake security council, after which there is a grace period of about 90 days, and then validators adopt it through a protocol upgrade; the issuance rate is lowered step by step each epoch, only reaching 1.6% in the 24th month.
### How can ordinary token holders confirm whether issuance is being carried out according to plan?
NEAR says the new rate is rolled out epoch by epoch according to a published schedule, the supply plan is verifiable by anyone, and quarterly reports track whether actual issuance is consistent with the plan, so it can be checked against the official quarterly reports.
### What are the key upcoming milestones?
Security council review, a grace period of about 90 days, adoption by validators through a protocol upgrade, step-downs each epoch until reaching 1.6% in the 24th month, and thereafter continued comparison of actual issuance with the plan through quarterly reports.