NEAR Co-Founder Floats Sovereign Fund to Combat Inflation

NEAR co-founder Illia Polosukhin has proposed creating a sovereign fund to mitigate inflation in the network. The idea, posted on the NEAR governance forum, aims to hold NEAR tokens, earn yield, and use some of that yield for security and public goods.

The proposed treasury would be funded by NEAR's existing protocol treasury and future revenue collected from the network. It would launch with around 30 million NEAR tokens, approximately $53 million at current prices.

Polosukhin drew inspiration from Norway and Singapore's sovereign wealth funds, which have survived market cycles for decades. He believes that putting crypto revenue into a productive fund is more effective than paying bills directly or burning tokens to offset inflation.