NEAR Protocol Drops 7% Despite Approval of Token Issuance Cut

The NEAR Protocol community approved Proposal HSP-029 to lower the maximum annual token **issuance rate** to 1.6% from 2.5% over 24 months. The move will reduce token issuance by about **11.8 million tokens** worth about **$45 million** over the next two years, while the **cumulative issuance reduction** over six years is estimated at about 66.1 million tokens. As the cut in issuance lowers **expected staking yields** to 3.3% from 5.2%, NEAR Protocol was trading at **$3.89**, down 6.89% from a day earlier.