NEAR ecosystem governance proposal is now open for voting, aiming to reduce the maximum annual issuance rate from 2.5% to 1.6% over 24 months. This can be seen as a positive for the supply side, as the dilution pressure for long-term holders will ease a bit. However, less issuance is still issuance, and the future will depend on whether the transaction fee burn from real on-chain usage can consistently exceed new issuance to achieve deflation. In this regard, I think UNI has done a great job. They've already linked real trading revenue with token burns, and currently, there's no actual issuance. Compared to simply lowering the issuance rate, using business revenue to continuously burn tokens makes the connection between protocol development and token holders' interests more direct. Of course, how effective this mechanism can be ultimately depends on actual revenue and the scale of token burns. near:native ethereum:0x1f9840a85d5af5bf1d1762f925bdaddc4201f984