Illia Polosukhin, co-founder of NEAR Protocol, dismissed token burning and buyback mechanisms as ineffective strategies, arguing that similar measures have failed to deliver results across other blockchain projects.
Instead of pursuing token supply reduction tactics, Polosukhin outlined plans to transition NEAR toward a limited emission model over the coming years. The shift represents a strategic pivot in how the protocol manages tokenomics, moving away from deflationary mechanisms that have become common among competing layer-one networks.
The commentary reflects broader debate within the crypto industry over optimal tokenomic structures. While some projects employ burn mechanisms to create artificial scarcity, Polosukhin's position suggests NEAR will prioritize controlled issuance and sustainable economic models as a more reliable path to long-term value accrual.