New supply is growing more slowly
Max issuance was halved from 5% to 2.5% a year in October 2025, and NEAR's vesting schedule ended on 2025-10-13. HSP-029, a House of Stake proposal, would ramp max issuance down to 1.6% over 2 years, starting 90 days after its vote's timelock ends; it changes issuance only once it is approved and validators adopt it in a protocol upgrade.