NEAR Protocol governance vote approved a plan to reduce the maximum annual issuance rate to 1.6% within 24 months.

The NEAR Protocol's on-chain governance body, the House of Stake, voted to reduce the maximum annual token issuance rate from 2.5% to 1.6%, a plan to be implemented in phases over 24 months. The new rate will be rolled out epoch-by-epoch according to a schedule, with subsequent processes including review by the House of Stake security committee, a 90-day grace period, validators adopting the changes through protocol upgrades, and a gradual decrease in token issuance per subsequent epoch.