NEAR’s price fell approximately 7% on Tuesday, November 3, trading near $3.82 after the community adopted a proposal aimed at reducing token dilution. The proposal, HSP-029, would gradually lower NEAR’s maximum annual issuance rate from 2.5% to 1.6% over two years, potentially preventing 11.8 million tokens from entering circulation during the first 24 months. It received support from about 99.9% of voting power, with roughly 3.28 million vote-escrowed NEAR tokens cast in favor. It still must clear a 14-day Security Council veto window, undergo ratification and a 90-day grace period, and be implemented through a protocol upgrade adopted by validators.
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