NEAR Protocol price: Issuance vote shifts tokenomics focus
Published on 11/04/2026 at 13:20 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSSupply reform meets implementation risk
- NEAR's House of Stake approved HSP-029, which targets a reduction in maximum annual issuance from 2.5% to 1.6% over 24 months.
- The proposal could reduce issuance by 11.8 million NEAR over two years, but it still requires Security Council review, a grace period and validator adoption.
- Investing.com displayed NEAR at 3.7935 USD at the time of review, with a market capitalization of 4.93 billion USD and 24-hour volume of 628.58 million USD.
The NEAR Protocol price is in focus after the network's House of Stake approved HSP-029, a proposal to lower the maximum annual issuance rate from 2.5% to 1.6% over 24 months. The vote closed on November 2, 2026, while the decision was reported on November 3 and remains subject to further implementation steps.
The proposal is documented in the NEAR Forum. It would reduce the issuance ceiling gradually on a per-epoch basis, rather than applying an immediate cut. The existing allocation of newly issued tokens would remain unchanged, with 90% going to staking participants and 10% to the treasury.
Lower dilution, lower staking yield
According to The Block, the proposal estimates that the ramp would prevent roughly 11.8 million NEAR from being issued during its first two years and 66.1 million over six years. The projected supply would therefore be lower than under the existing ceiling. The trade-off is a projected decline in gross staking yield from 5.268% to 3.372%, assuming the participation rate used in the proposal remains unchanged.
House of Stake approval does not activate the new schedule. The Security Council must review the result before ratification. A 90-day grace period follows, and validators must then adopt a protocol upgrade before the revised issuance parameter becomes binding. Investors should therefore distinguish the completed governance vote from the future network implementation.
Market snapshot and investor context
At the time of review, the Investing.com market page displayed NEAR at 3.7935 USD. The same page showed a market capitalization of 4.93 billion USD, 24-hour volume of 628.58 million USD, a rank of 18 and circulating supply of 1.31 billion NEAR. These figures are a market snapshot, not a verified UTC day-close comparison for November 4.
For investors, HSP-029 presents a potential reduction in future dilution but also a lower projected reward for staking. The NEAR Protocol price will continue to reflect broader crypto-market conditions as well as expectations about whether the remaining governance and validator steps are completed.
More coverage is available on the NEAR Protocol topic page.
