NEAR Protocol said in a post on X that Sal Ternullo, CEO of NEAR treasury company SVRN, has introduced a new proposal on the NEAR governance forum to reduce NEAR’s maximum annual token issuance rate from 2.5% to 1.6% for 24 months. The proposal would also lower the staking yield from about 5.4% to about 3.5%.
The plan is currently open for feedback from validators, House of Stake delegators, and members of the NEAR community. According to NEAR Protocol, a full version of the proposal is expected to be released next week for a vote.
NEAR Protocol also addressed the earlier NEAR Intents security incident, saying the blockchain network remains operational. It said the issue was not caused by a vulnerability in NEAR Protocol or the native NEAR token, and that the network has continued producing blocks and processing transactions without any outage.
NEAR Protocol said in a post on X that Sal Ternullo, CEO of NEAR treasury company SVRN, has introduced a new proposal on the NEAR governance forum to reduce NEAR’s maximum annual token issuance rate from 2.5% to 1.6% for a period of 24 months.
The proposal would also lower staking yield from about 5.4% to about 3.5%.
Proposal enters feedback stage
The proposal is currently being circulated for comment among validators, House of Stake delegators, and members of the NEAR community. NEAR Protocol said a full proposal is expected next week and will be put forward for a vote.
NEAR responds to Intents security incident
Addressing the earlier NEAR Intents security incident, NEAR Protocol said the issue was not caused by a vulnerability in either NEAR Protocol or the native NEAR token.
The team added that the blockchain network is operating normally, continues to produce blocks and process transactions, and has not experienced downtime.
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