Critical Decision That Will Change Supply in NEAR: Annual Production to Drop by 1.6%! Here Are the Details

NEAR management overwhelmingly approved a proposal to reduce the maximum annual token production rate from 2.5% to 1.6%. The NEAR Protocol’s governance body, House of Stake, has approved proposal HSP-029, which foresees a significant change in the network’s token economy. The proposal envisages reducing the maximum annual production rate of NEAR tokens from 2.5% to 1.6% over a 24-month transition period. If the plan is implemented, the production rate will decrease by approximately 3.75 basis points each month, reaching 1.6 percent by the end of the second year.