# DefiLlama fees — X 热门讨论 (2026-10-01 19:42 UTC)
## @milkroaddaily (Milk Road Crypto) · 10-01 16:01 · ♥31 ↻5 💬3 $SVRN proposes NEAR issuance reduction from 2.5% to 1.6%.
SVRN (OceanPal) holds and stakes ~55M NEAR tokens, or ~4% of the circulating supply.
SVRN's CEO, Sal Ternullo, raised the issue in the House of Stake, NEAR's legislature.
The House of Stake is responsible for setting NEAR's economic policy and addressing issues related to issuance, fees, treasury flows, and validator incentives.
The forward path to Sam's proposal is: > Forum post (live). > Screening committee review. > Onchain vote by veNEAR holders. > Security council window (where it could still be vetoed).
Data from DeFiLlama show that NEAR's cumulative emissions have increased from 0.89% to 2.11% over the past year. Most of this is driven by NEAR Intents, which route a part of the fee toward NEAR buybacks and burns.
Compared with market-leading tokens like HYPE and PUMP, NEAR's ratio is far below the fee coverage they currently command.
NEAR's cumulative fees only cover ~2.1% of all tokens ever emitted. Inflation runs at ~2.5% (cut from 5% in October 2025). Intents fee improved the ratio, but annual protocol revenue remains well below the dollar value of new tokens issued, so net supply is still growing.
HYPE routes ~97-99% of trading fees into open-market buys and burns. Staking rewards come from a pre-allocated revenue pool and are ~2% per year on the amount staked. Recent data shows buybacks remove more HYPE than staking issuance adds, so net supply is flat to slightly declining even while HYPE unlocks continue.
$NEAR is up ~164% over the past month. https://x.com/milkroaddaily/status/2105689487171064216