[NEAR Protocol Governing Body Approves Proposal to Reduce Annual Token Issuance Cap by 36%] Odaily reports that the NEAR Protocol governing body, House of Stake, passed proposal HSP-029 on November 2nd with approximately 99.96% support, granting voting rights of 3.29 million veNEAR tokens. The proposal aims to gradually reduce the annual token issuance cap from 2.5% to 1.6% over 24 months, an average monthly reduction of 0.0375 percentage points. Initiated by Sal Ternullo, CEO of Nasdaq-listed SVRN, the proposal adjusts only one protocol parameter, maintaining the existing allocation ratio: 90% of newly issued tokens will be allocated to staking participants, and 10% will go to the treasury. The proposal still needs approval from the House of Stake security committee and will be implemented after approximately 90 days of preparation and validators completing their protocol upgrades. Model estimates suggest that, based on the original issuance cap, approximately 11.8 million fewer NEAR tokens will be issued in the first two years after implementation, and approximately 66.1 million fewer over six years. After full implementation, the daily issuance is expected to decrease from approximately 89,500 tokens to 57,300 tokens; under the assumption of similar staking participation rates, the gross staking yield is expected to decrease from 5.268% to 3.372%, and validator commission revenue is expected to decrease by 36%. (Bitcoin.com News)