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NEAR NEAR co-founder proposes to establish an agreement fund for investment and ecological construction
NEAR co-founder Illia Polosukhin encourages network stakeholders to consider establishing an agreement fund for investment. The fund will hold NEAR tokens, earn proceeds, and use part of the proceeds for cybersecurity and other public goods.
On Monday, he posted the idea at the NEAR Governance Forum and gave community members two weeks to share their opinions.
Polosukin calls for community feedback
"This is more like a proposal than a directive," he wrote. "I believe that our ecology belongs to everyone. If the founders have sole decision-making power, this ecology will not be truly resilient or decentralized." He added.
Before moving forward on anything, he wants to hear from the validators, token holders and the community who vote through the House of Stake.
NEAR is preparing to enter its sixth year on the main online line. Polosukin called the first five years the "start-up phase." He said that recent basic work includes: halving the inflation rate by the end of 2025, implementing fee switches to channel revenue from NEAR Intention into token repurchases, and NEAR charging for AI reasoning services.
According to forum posts, the proposed treasury funding will come from NEAR's existing agreement treasury and agreement revenue collected to date and in the future. The fund will hold these assets in the form of NEAR tokens and let the tokens work. A portion of the revenue share will be used to support verifier support programs, MPC providers and other similar services. The initial size of the fund is approximately 30 million NEARs, or approximately US$53 million at current prices.
In NEAR's equity-weighted governance system,"House of Equity", representatives will participate through existing mechanisms. Polosukin suggested that over time, NEAR could transfer more and more additional shares to the fund. This will reduce the effective inflation rate, while verifiers and pledgers will still be rewarded.
Based on Norway and Singapore
Sovereign wealth funds and university endowments convert one-time or cyclical income into a permanent asset base, thereby generating income year after year. Polosukin cited examples from Norway and Singapore. The Singapore fund is 45 years old and the Norway fund is 36 years old, proving that the structure can withstand market cycles. He pointed out that crypto revenue is as cyclical as oil or land sales, so it is wiser to invest revenue in productive funds than to use it directly to pay bills.
He clearly distinguished this process from token destruction-a mechanism that the NEAR community has discussed in the past. He said that destruction can only temporarily offset inflation, but the effect will gradually fade away in volatile assets, and once inflation stops, there will be no follow-up. He likes simple mathematics: the same token generates income by borrowing, and the principal continues to generate money.
Polosukin rejected a proposal to destroy tokens held by the foundation in early July, calling one-time destruction "a crude means" and instead mentioned the possibility of setting a bitcoin-style hard cap on NEAR supplies. The fund helps achieve this goal. He wrote that if revenue ultimately independently covers cybersecurity and public goods, NEAR "could shift to fixed supply."
NEAR Foundation co-founders acknowledge that there are risks to earnings. The plan is to diversify and hedge it, and any inflation adjustment should still keep the incentives of verifiers and pledgers unchanged.
According to CoinGecko data, NEAR is currently trading at US$1.74, up 1.4% on the day, but down 29.6% during the year.
