# NEAR Governance Discussion: Reducing Issuance to 1.6%, and the Path to a Fixed Supply **URL:** \ **Category:** House of Stake\ **Created:** [September 30, 2026, 1:50pm UTC](https://gov.near.org/t/near-governance-discussion-reducing-issuance-to-1-6-and-the-path-to-a-fixed-supply/42595 "2026-09-30T13:50:00Z")\ **Posts on this page:** 1\ **Showing post:** 32
**Author:** ![richard1](https://avatars.discourse-cdn.com/v4/letter/r/50afbb/32.png) [@richard1](https://gov.near.org/u/richard1)\ **Post date:** [October 7, 2026, 2:57pm UTC](https://gov.near.org/t/near-governance-discussion-reducing-issuance-to-1-6-and-the-path-to-a-fixed-supply/42595/32 "2026-10-07T14:57:18Z")
**Strongly support Part 1, and I’d encourage everyone to engage seriously with Part 2.** NEAR is in an unusual position. Intents is generating real revenue, and that revenue is already buying NEAR on the open market. That lets NEAR improve its token economics because the network is beginning to pay its own way, which very few L1s can claim. A single-parameter change is the right first step. It is simple, verifiable, and phased in slowly enough for us to watch its effects. I take the point from cloudmex-alan and DDeAlmeida that validator growth after the 2025 halving owed a lot to Meta Pool’s delegation programmes, so it isn’t clean proof that the set can absorb another cut. To me that’s an argument for measuring closely through the 24-month ramp, not for standing still. On cloudmex-alan’s’s question about what the token is for in the end state, my answer is the machine economy. AI agents will increasingly hold and settle value in whichever assets offer the most predictable rules. A network whose supply stops growing, and whose security is paid for by what it earns, is a strong candidate to be that asset. That’s why Part 2 matters. The one condition I’d want built in from the start is that issuance only reaches zero once network revenue verifiably covers the security budget. Designed that way, a fixed supply would put NEAR in a category of its own. Looking forward to the formal proposal. --- _[View the full topic](https://gov.near.org/t/near-governance-discussion-reducing-issuance-to-1-6-and-the-path-to-a-fixed-supply/42595)._