Illia Polosukhin, co-founder of NEAR Protocol, recently dismissed a community proposal to burn foundation-held tokens, stating that simple burning is a very inefficient method. He stated, "In the past, other Layer 1 chains have made decisions to burn foundation holdings, but this did not bring substantial and specific benefits to the market or ecosystem." He announced plans to adopt a method of fixing the token's maximum supply, similar to Bitcoin, instead of a one-time burn.
