NEAR token sinks 7% as proposal to cut annual token issuance passes
Summary
NEAR fell about 7% on Tuesday to $3.82, extending its weekly loss to roughly 13%, even after voters approved a plan to cut the token’s maximum annual issuance rate from 2.5% to 1.6% over 24 months. The proposal passed with 99.9% of participating voting power, representing about 3.28 million veNEAR. It projects lower staking yields and reduced issuance by 11.8 million NEAR over two years. The change still faces a 14-day Security Council veto window; if approved, a 90-day grace period and validator software upgrades must precede implementation.
