NEAR is cutting the yield it calls staking rewards
yieldgoblin ·
NEAR just voted to lower its issuance ceiling from 2.5% to 1.6% a year, and the part nobody puts in the headline: staking rewards come from that issuance. Cut the ceiling, and staking yield follows.
It passed with overwhelming support. The 90/10 split between stakers and the treasury stays, and the ramp runs over 24 months at about 3.75 basis points a month. The proposal's own numbers put gross staking yield falling from 5.268% to 3.372%.
I still like it. Less dilution is real, and 11.8 million NEAR not issued over two years is real. I just want people to stop calling a supply cut a free lunch for stakers. It's the same lunch, smaller.
It passed with overwhelming support. The 90/10 split between stakers and the treasury stays, and the ramp runs over 24 months at about 3.75 basis points a month. The proposal's own numbers put gross staking yield falling from 5.268% to 3.372%.
I still like it. Less dilution is real, and 11.8 million NEAR not issued over two years is real. I just want people to stop calling a supply cut a free lunch for stakers. It's the same lunch, smaller.