The NEAR community proposal aims to reduce the maximum annual token issuance rate and clarify that the security incident does not involve vulnerabilities in the native token

NEAR Protocol posted on platform X that Sal Ternullo, CEO of NEAR Treasury Company SVRN, has introduced a new proposal on the NEAR governance forum to reduce the maximum annual token issuance rate from 2.5% to 1.6% for a duration of 24 months, and to lower the staking yield from the current approximately 5.4% to about 3.5%.

The proposal is currently seeking feedback from validators, House of Stake delegators, and NEAR community members, with a complete plan expected to be announced next week for voting.

In response to the recent NEAR Intents security incident, NEAR Protocol further clarified that the blockchain network is operating normally, and the related incident was not caused by vulnerabilities in NEAR Protocol or the native token NEAR. The NEAR Protocol network continues to produce blocks and process transactions without any downtime.