NEAR Protocol gained 10% after its governance approved a proposal to reduce the network’s annual token issuance ceiling from 2.5% to 1.6% over two years. Under proposal HSP-029, the change could prevent 11.8 million NEAR tokens from entering circulation during the first two years and reach 66.1 million over six years. At full implementation, daily issuance would fall from roughly 89,500 to 57,300 tokens, with 90% distributed to staking participants and 10% allocated to the protocol treasury. Gross staking yields would nevertheless decline from approximately 5.27% to 3.37%, and the measure still requires Security Council review, a 90-day grace period and validator adoption. Trading near $3.80, NEAR needs sustained demand to break above $4 while the protocol develops its cross-chain infrastructure.
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