NEAR co-founder responds to token burn proposal: preparing a new proposal to enable fixed supply for NEAR

Foresight News reports that NEAR Protocol co-founder Illia Polosukhin responded to the suggestion of burning NEAR Foundation tokens, stating that burning is "a very inefficient method." He noted that other public blockchain ecosystems have previously attempted to generate real value by burning foundation funds but failed to achieve substantial gains. He also revealed that he is preparing a new proposal that will map out a specific path to a fixed NEAR token supply from a different perspective, with the aim of achieving this within the next few years.

This discussion originated from two tokenomics optimization proposals submitted by community user @KYSb_q: first, to burn a portion of the NEAR Foundation tokens following Hyperliquid's approach; and second, to upgrade the current buyback program. Previously, @zacodil also noted that NEAR has already used 100% of Intents fee revenue for market buybacks and has lowered the inflation rate to 2.4%.