NEAR Protocol price faces supply reset after 99.96% issuance vote
Published on 11/03/2026 at 13:25 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSNEAR issuance vote clears first hurdle
- NEAR's House of Stake approved HSP-029 with about 99.96% support on November 2, 2026.
- The proposal would reduce maximum annual issuance from 2.5% to 1.6% over 24 months.
- The change still requires Security Council review, a validator upgrade and a 90-day grace period.
- Coinranking reported NEAR at 3.87 USD, down 9.55% over 24 hours, when its November 3 article was published.
NEAR Protocol price was reported at 3.87 USD, down 9.55% over 24 hours, as the token faced continued selling pressure on November 3. The immediate focus for holders was a governance decision that could reduce future token supply growth, although the decision has not yet changed the protocol's issuance rules.
According to Coinranking, NEAR's House of Stake vote on proposal HSP-029 closed on November 2 at 16:48 UTC. About 99.96% of votes supported the proposal. Coinranking's market data in the same report showed a market capitalization of 5.07 billion USD and 24-hour volume of 513.02 million USD.
Issuance cut still awaits implementation
HSP-029 would lower NEAR's maximum annual issuance from 2.5% to 1.6%, a 36% reduction, phased in across individual network epochs over 24 months. The proposal keeps the existing allocation of newly issued tokens unchanged: 90% would go to staking participants and 10% to the treasury.
The official NEAR Forum proposal says the reduction would not begin immediately. A separate protocol upgrade must first be adopted by validators, followed by a 90-day grace period. The rate would then decline gradually until reaching the 1.6% target at the end of the 24-month ramp.
Lower dilution, lower nominal staking rewards
The economic trade-off is central for investors. Slower issuance would reduce the pace at which new NEAR enters circulation, potentially limiting dilution for holders who do not stake. At the same time, staking rewards are funded by issuance, so nominal rewards would decline as the rate falls. The proposal models gross staking yield declining from 5.268% at the current 2.5% ceiling to 3.372% at the 1.6% target, assuming the measured participation rate remains unchanged.
The NEAR Protocol price therefore remains exposed to two separate factors: the long-term tokenomics change and near-term market positioning. Coinranking's reported 24-hour decline does not establish that the governance decision caused the move. For now, the vote is an approved policy direction rather than an implemented supply change, and the validator upgrade and grace period remain important milestones for holders to monitor.
More coverage is available on the NEAR Protocol topic page.
