NEAR Proposal HSP-029 Proposes 36% Cut to Issuance Cap, Dividing Validators
A new proposal seeks to reduce NEAR's annual token issuance by over one-third, sparking debate among network validators.
A new proposal seeks to reduce NEAR's annual token issuance by over one-third, sparking debate among network validators. NEAR Protocol (NEAR) is trading at $4.97, up 0.6% since this brief published. This is an original TLT brief based on reporting by CryptoSlate, with live market data added, as of Fri, 23 Oct 2026 06:00:04 UTC.
The proposal, if implemented, would significantly impact NEAR's tokenomics by reducing inflation and altering the incentives for validators and token holders. This could affect network security and stakeholder returns.
- HSP-029 proposes a 36% reduction in NEAR's annual token issuance cap.
- The change would not affect the circulating supply of tokens.
- Proposal has divided network validators over its potential impact.
- NEAR's TVL is $142.58M, down 2.9% over the past week.
A new proposal for the 
NEAR Protocol, known as HSP-029, aims to reduce the network's annual token issuance by 36%. This change would be implemented gradually and would not affect the total supply of tokens currently held or staked.
The proposal has sparked significant debate among NEAR's network validators. While some support the measure as a means to control inflation and stabilize the token economy, others are concerned that it could negatively impact staking rewards and potentially compromise network security.
According to DeFiLlama, NEAR's Total Value Locked (TVL) currently stands at $142.58 million, representing a 2.9% decrease over the past week. This suggests that investor sentiment may be cautious amidst the proposed changes.
The broader crypto market is experiencing a downturn, with the total market cap at $2.8 trillion and 
Bitcoin down 1.58% in the last 24 hours. NEAR's price has also declined, currently trading at $4.94, representing a 2.72% drop in the past day and a 5.83% decrease over the week.
The outcome of the HSP-029 proposal could have significant implications for NEAR's tokenomics and network dynamics. Observers will be watching how validators respond and whether the proposal gains enough support for implementation.
Since this brief published about 2 hours ago, NEAR Protocol (NEAR) has moved from $4.94 to $4.97 — +0.61%.
The chart plots NEAR's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 NEAR ≈ ₦6,806.66 (about $4.97), down 0.7% over 24 hours. The naira itself trades about 3.4% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · October 23, 2026.
TLT reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
NEAR Proposal HSP-029 Proposes 36% Cut to Issuance Cap, Divi — questions & answers
What is the HSP-029 proposal?
HSP-029 is a proposal to reduce NEAR's annual token issuance by 36%, while not affecting the total supply of tokens held or staked.
How would the proposal affect NEAR's token holders?
The proposal aims to control inflation but could impact staking rewards and network security, causing division among validators.
What is NEAR's current TVL?
NEAR's TVL is $142.58 million, down 2.9% over the past week.
How much is 1 NEAR Protocol worth in naira today?
About ₦6,806.66 at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $4.97. The naira price moves with both NEAR's US-dollar price and the USDT/NGN rate; use our NEAR Protocol in naira page for any amount.
Has NEAR Protocol's price moved since this brief was published?
NEAR is up 0.61% since this brief first published — trading at $4.97 now versus $4.94 at publication. TLT re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from CryptoSlate. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.