Near Protocol Abandons Token Burn Plan in Favor of Fixed Supply Model

Near Protocol co-founder Illia Polosukhin has publicly dismissed a recent proposal to burn tokens held by the Near Foundation, calling it an inefficient use of ecosystem resources.

In a statement that sparked discussion across the blockchain community, Polosukhin argued that simple token burns have historically failed to deliver meaningful benefits to markets or network ecosystems.

Polosukhin pointed out that these actions often generated short-term market excitement but failed to produce lasting value for token holders or network participants.

Near Protocol is instead exploring a model similar to Bitcoin's, where there would be a fixed maximum token supply. This approach would introduce a predictable scarcity and support long-term value retention.