NEAR Protocol said a new governance proposal has been introduced by Sal Ternullo, CEO of NEAR treasury company SVRN, to cut NEAR’s maximum annual token issuance rate from 2.5% to 1.6% for 24 months. Under the proposal, staking yield would fall from about 5.4% to about 3.5%. The plan is now being circulated for feedback from validators, House of Stake delegators, and broader community members, with a full version expected next week for a formal vote. Separately, NEAR addressed the earlier NEAR Intents security incident, saying the blockchain itself has continued operating normally. The protocol said the issue was not caused by a vulnerability in NEAR Protocol or in the native NEAR token, and that the network has kept producing blocks and processing transactions without any outage.
NEAR Protocol said a new proposal on its governance forum would reduce NEAR’s maximum annual token issuance rate from 2.5% to 1.6% for 24 months.
The proposal was introduced by Sal Ternullo, CEO of NEAR treasury company SVRN. If adopted, it would lower staking yield from about 5.4% to about 3.5%. The proposal is currently being discussed with validators, House of Stake delegators, and members of the NEAR community. A full version is expected next week for a vote.
Protocol says Intents incident did not stem from NEAR or its native token
NEAR Protocol also issued a clarification on the earlier NEAR Intents security incident, saying the blockchain network has continued to operate normally and that the event was not caused by a vulnerability in NEAR Protocol or in the native NEAR token.
According to the protocol, the NEAR network has continued producing blocks and processing transactions, with no outage reported.
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