NEAR Community Proposal Proposes Reducing Maximum Annual Token Issuance Rate, Clarifies Security Incident Does Not Involve Native Token Vulnerabilities
NEAR Protocol announced on the X platform that Sal Ternullo, CEO of NEAR Treasury Company SVRN, has introduced a new proposal on the NEAR Governance Forum to reduce NEAR's annual maximum token issuance rate from 2.5% to 1.6% over a 24-month period, and lower the staking yield from the current approximately 5.4% to around 3.5%. The proposal is currently soliciting feedback from validators, House of Stake delegates, and NEAR community members, with a complete plan expected to be published next week for voting.
Following the earlier NEAR Intents security incident, NEAR Protocol further clarified that the blockchain network is operating normally. The incident was not caused by any vulnerabilities in NEAR Protocol or its native NEAR token. The NEAR Protocol network continues to produce blocks and process transactions without experiencing downtime.
