NEAR Protocol’s House of Stake Votes to Cut Token Issuance 36%

NEAR Protocol’s governance body voted to slash the blockchain’s annual token issuance ceiling by 36%, backing a two-year reduction that promises less dilution for holders but smaller staking rewards for validators and investors helping secure the network over time. On Nov. 2, 2026, NEAR’s House of Stake approved proposal HSP-029 with approximately 99.96% support, representing 3.29 million veNEAR in voting power. The decision advances another monetary policy overhaul for the layer one (L1) blockchain, which previously halved its maximum issuance rate in October 2025. The latest measure targets a 1.6% annual ceiling, down from 2.5%, through a gradual adjustment spanning 24 months. Each epoch will bring an incremental reduction, averaging 0.0375 percentage points monthly, rather than an abrupt change that catches staking operators flat-footed.