NEAR Co-founder Dismisses Token Burn as Inefficient, Proposes Fixed Supply Plan
2026-07-02 21:01

Woofun AI reports that Illia Polosukhin, co-founder of NEAR Protocol, characterized the destruction of NEAR Foundation tokens as an "extremely inefficient approach." He noted that other blockchain ecosystems have destroyed foundation funds without realizing tangible benefits. Polosukhin stated he is working on a new initiative to establish a fixed NEAR token supply, aiming for implementation within the next few years. This response addresses proposals by community user @KYSb_q to burn tokens following Hyperliquid's example or upgrade the buyback program. Previously, @zacodil highlighted that NEAR allocates 100% of Intents fees to market buybacks, reducing inflation to 2.4%.

Disclaimer: Views are the author's own and do not represent the platform. Do not reproduce without permission. Content is for reference only, not investment advice. Trade at your own risk.
Tags:
NEAR
Illia Polosukhin
@KYSb_q
@zacodil
NEAR Protocol
Hyperliquid
Foresight News
Share:
back