New Token Issuance for This Altcoin Could Drop by 36 Percent: Critical Vote Passes

A proposal to reduce the issuance of new tokens in the NEAR Protocol has passed a vote by token holders. Following the vote, which concluded today, proposal HSP-029 has entered the stage where the Security Council can consider a veto. The official governance page shows approximately 3.29 million votes in favor (VEYN), with no votes against. The veto period is expected to end on November 16th. The proposal aims to reduce the maximum annual new token production rate from 2.5% to 1.6%. This change represents a 36% reduction in the production rate.