NEAR Co-Founder Proposes Sovereign Fund with $1.8B in NEAR Backing

NEAR Protocol co-founder Illia Polosukhin has proposed a Sovereign Fund backed by approximately 30 million NEAR tokens.

The fund aims to generate yield and support network security, validators, Multi-Party Computation providers, and public goods. It could also finance common infrastructure and services for the NEAR community.

The proposal involves creating the NEAR Sovereign Fund, which would be governed by the NEAR House of Stake, enabling token owners to oversee treasury decisions.