From the coming network upgrade onwards, NEAR will burn every single gas fee. Until now, 30 percent of the fees that accrue when a smart contract is called flowed back to the owner of that contract; the remaining 70 percent left circulation. With version 2.14 of the network software nearcore, that rebate drops to zero. After that, the full amount is burned. Reports put the date at around October 5, 2026, but that is not a firmly committed deadline.
For you as a holder this means two things: the supply of NEAR will shrink faster whenever a lot is happening on the network, and part of the revenue that applications on NEAR could count on until now falls away. The market priced the decision in long ago, but the technical execution is still ahead.
100 percent instead of 70 percent: what nearcore 2.14 changes in the gas model
Gas on NEAR is the computing fee for every transaction. Whoever calls a smart contract pays for it in NEAR. Until now that amount was split: the protocol burned 70 percent, and 30 percent went as a reward to the account that owns the contract being called. Inside the protocol this share sits in a single ...
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