NEAR Governance Approves Removal of Developer Gas Rebates

NEAR Governance Approves Removal of Developer Gas Rebates

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by Bayarjavkhlan Ganbaatar

3 months ago

Made with AI

In a significant shift for its economic model, NEAR governance has decided to eliminate the 30 developer gas rebate program. This change, which will redirect execution fees towards a protocol-level burn, is set to be implemented with the upcoming nearcore v214 upgrade. The source notes that this move aims to enhance the sustainability of the network.

Removal of Gas Rebate Program

The decision to remove the gas rebate program is part of a broader adjustment to NEAR's tokenomics, aimed at simplifying the network's economic structure. Once the change is enacted, expected in August 2026, all execution fees will contribute to a burn mechanism, potentially increasing the scarcity of the token.

Concerns About Developer Incentives

This move raises concerns about its impact on developer incentives, as the gas rebate program has been a key financial support for developers building on the NEAR platform. Stakeholders will be closely monitoring how this decision affects the developer ecosystem and overall network activity in the coming years.

In a recent development, Chainlink has transitioned its BUILD program to focus on commercial fee agreements, enhancing the utility of LINK. This shift contrasts with NEAR's decision to eliminate its developer gas rebate program, highlighting different approaches to incentivizing developers. For more details, see Chainlink changes.

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