NEAR initiates a vote to reduce the maximum annual inflation rate from 2.5% to 1.6%.

PANews October 21 news, according to The Defiant, NEAR governance body House of Stake has initiated voting on proposal HSP-029, which plans to linearly reduce NEAR's maximum annual token inflation rate from 2.5% to 1.6% over 24 months after a buffer period of approximately 90 days. According to the proposal, approximately 11.8 million fewer NEAR tokens will be issued over the next 2 years, and approximately 66.1 million fewer will be issued over 6 years in total, reducing the supply by approximately 4.36% compared with the current policy; the total staking yield is expected to decrease from 5.27% to 3.37%. The proposal requires supermajority support and must be adopted by validators through a network upgrade before it can take effect.