NEAR Governance Votes to Scrap Developer Gas Rebate

The on-chain governance body of NEAR, known as House of Stake, has passed proposal HSP-027. This proposal removes the gas rebate previously given to developers, meaning that all gas fees paid on the network will now be burned, reducing the total supply of NEAR tokens. Co-founder Illia Polosukhin confirmed the decision on Monday. Previously, a portion of gas fees was rebated to smart contract owners, but this change shifts the entire fee to be permanently removed from circulation. This move could impact the economic incentives for developers and users on the NEAR network, potentially affecting network activity and token value. The decision reflects a strategic shift in how the protocol manages its fee structure and token supply.