NEAR's maximum annual inflation rate will be reduced in stages from 2.5% to 1.6%.

BlockBeats news, November 3 - NEAR's decentralized on-chain governance body, the House of Stake, has voted to approve a proposal to reduce NEAR's maximum annual inflation rate from 2.5% to 1.6%, to be implemented in phases over 24 months. According to official statements, token holders can publicly vote on core parameters, and the new rate will be implemented epoch by epoch according to the published schedule, thereby reducing long-term inflation in a verifiable manner.

The subsequent process is as follows: the House of Stake Security Committee will first review the results before approval. After approval, there will be an approximately 90-day grace period, during which validators will adopt the changes through a protocol upgrade to make them effective. Subsequently, the inflation rate will be reduced epoch by epoch, reaching 1.6% by the 24th month, with actual inflation tracked against the schedule through quarterly reports.