NEAR Price Drops 7% as Token Issuance Cut Proposal Passes

Dextape brief

By Dextape Desk · November 4, 2026

NEAR's native token slid about 7% on Tuesday to near $3.82, with weekly losses near 13% per CoinMarketCap, despite community approval of a measure to curb future dilution. On Monday, the NEAR House of Stake reported that roughly 99.9% of voting power favored the proposal, HSP-029, with about 3.28 million veNEAR tokens voting yes. The plan would step the ceiling on yearly issuance down to 1.6% from 2.5%, a change the estimates say could keep around 11.8 million tokens out of circulation during the first 24 months. Lower issuance would also pull projected gross staking yields from about 5.2% to 3.3% by the end of implementation. Still ahead are a 14-day Security Council veto window, ratification and a 90-day grace period, plus a validator protocol upgrade.

Why it matters: The change shows that governance can reshape a network's long-term token supply and staking economics, though the market has reacted negatively so far.

Summary by Dextape, based on reporting by Bitcoinist. Written with AI from the publisher’s text and checked automatically for copied wording and unsupported figures. Not investment advice.