NEAR Protocol co-founder Illia Polosukhin proposed creating a sovereign fund seeded with 30 million NEAR tokens, worth about $57 million, to support validators, multiparty computation providers, and other public goods. The fund aims to use protocol revenue to acquire NEAR tokens and generate sustainable yield, rather than burning tokens for temporary supply reduction. This initiative is part of broader tokenomics changes, including inflation cuts and revenue-directed NEAR purchases. Stakeholders have two weeks to comment before formal governance steps are considered, with details on yield strategies and spending yet to be defined.
The wallet linked to the NEAR Intents exploit transferred 1 BNB to a designated recovery wallet, indicating a potential willingness to cooperate on recovering stolen funds. This transfer is seen as a proof-of-contact rather than a full return of fund...
Crypto markets saw a 3-4% rally with Bitcoin reaching $86,400 amid cooling oil and bond prices. The SEC proposed new rules allowing investment advisers and funds to hold crypto directly, including self-custody when no custodian is available. Meanwhil...
NEAR Protocol has proposed a gradual reduction of its maximum annual token issuance from 2.5% to 1.6% over 24 months, aiming to limit future token supply growth by about 66 million tokens over six years, valued at $329 million as of late September 20...
NEAR Intents, a cross-chain crypto exchange, lost about $3.8 million after a security flaw in its Omni deposit and withdrawal system was exploited. The platform immediately froze deposits and withdrawals across 11 blockchain networks and fixed the sm...
NEAR Protocol is considering a governance proposal to gradually reduce its maximum annual token issuance rate from 2.5% to 1.6% over 24 months. This change aims to limit inflation by keeping about 66 million NEAR tokens out of circulation, potentiall...
