NEAR management has approved proposal HSP-029, which aims to reduce the maximum annual token production from 2.5% to 1.6% over two years. NEAR management overwhelmingly approved a proposal to reduce the maximum annual token production rate from 2.5% to 1.6%. The NEAR Protocol’s governance body, House of Stake, has approved proposal HSP-029, which foresees a significant change in the network’s token economy. The proposal envisages reducing the maximum annual production rate of NEAR tokens from 2.5% to 1.6% over a 24-month transition period.