NEAR Community Seeks Token Inflation Reduction to 1.6% Over 24 Months

A new proposal has been submitted to the NEAR governance forum by Sal Ternullo, CEO of Svrn AI, suggesting a reduction in the NEAR token issuance rate from 2.5% to 1.6% over 24 months. This move aims to eventually transition to a fixed total supply. The proposal is currently open for discussion among validators, House of Stake representatives, and the broader NEAR community. NEAR has also clarified that the recent NEAR Intents incident did not involve any vulnerabilities in the NEAR Protocol or the native NEAR token.

The NEAR Intents incident saw the network experience some downtime, but NEAR assures that the network continued to produce blocks and process transactions without any issues throughout the event. This move to reduce token inflation and potentially transition to a fixed total supply could have significant implications for the NEAR ecosystem and its investors.