Cointime

Cointime

Download App
iOS & Android
Home / Point

NEAR Co-Founder: Planning a Path to Fixed Supply for NEAR Tokens

On July 2, Illia Polosukhin, co-founder of NEAR Protocol, responded to suggestions about destroying NEAR Foundation tokens, stating that destruction is a "very inefficient method." He pointed out that there are precedents in other blockchain ecosystems where destroying foundation funds did not yield substantial benefits. Illia Polosukhin revealed that a new proposal is being prepared, which will outline a specific path for NEAR tokens to achieve a fixed supply, expected to be realized in the coming years.

Comments

All Comments

Recommended for you

  • Ministry of Industry and Information Technology: Accelerating the Release of AI + Software Action Plan

    On July 20, the State Council Information Office held a press conference to introduce the development status of industry and information technology in the first half of 2026. Tao Qing, spokesperson for the Ministry of Industry and Information Technology and Director of the Operation Monitoring and Coordination Bureau, stated that software is the soul of the new generation of information technology, an important foundation for the development of the digital economy, and a key support for building a manufacturing power, a cyber power, and a digital China. Moving forward, we will continue to enhance the supply capacity of key software products and services in accordance with the national software development strategy, accelerate the release of the AI + software action plan, promote the intelligent transformation of software development, upgrade the intelligence of software products and services, and cultivate new business models for intelligent software. We will continuously improve the capabilities of open-source infrastructure in areas such as project incubation, supply chain security governance, exploration of emerging scenarios, and overseas market entry, and accelerate the growth of national-level AI open-source communities into innovation sources for emerging technologies and important scenarios for the implementation of software and hardware products.

  • Economist Zhao Jian: The Market Needs Another 924-Level Rescue

    On July 20, economist Zhao Jian stated that the two core indicators for judging a bull market—trading volume and profit-making effect—are currently severely distorted. First, regarding trading volume, the average daily trading volume of A-shares remains above 1.2 trillion yuan, with several days even exceeding 3 trillion yuan, but there is significant inflation in these figures; data from 2026 shows that quantitative trading accounts for 36.8% of the total trading volume of A-shares, with some trading days exceeding 40%. Next, concerning the profit-making effect, only 32% of the 5,528 stocks in the market rose in the first half of the year, meaning nearly 70% of stocks declined. When the market is supported only by a few AI computing stocks while the vast majority of investors are losing money, this is no longer a healthy bull market but a typical 'structural bubble.' At the retail investor level, the data is alarming. As of late June 2026, a joint sampling by the China Securities Association and leading brokerages showed that the loss ratio among active retail accounts in A-shares is as high as 79%-82%, with only 19%-21% of accounts making a profit. The traditional pattern of 'seven losses, two breakevens, and one profit' has been completely rewritten to 'eight losses, one breakeven, and one profit.' The average return for retail investors in the first half of the year was -23.6%, with an average floating loss of about 21,000 yuan and a median return of -25%. Retail investors with less than 100,000 yuan faced a loss rate of 98%-99%, nearly a total wipeout. Zhao Jian called for the policy level to immediately, decisively, and beyond expectations implement more aggressive market rescue policies than those of 924: the central bank should directly provide liquidity, increasing the scale of securities swaps from 500 billion to 2 trillion yuan or even higher, clearly indicating an 'unlimited' support intention; temporarily suspend IPOs and refinancing; urgently introduce measures to restrict high-frequency trading, increase trading costs, and suspend algorithmic trading; the Central Huijin Investment should clarify its positioning as a 'stabilization fund,' buying in at any cost during market panic to convey a 'national bottom' signal; simultaneously launch policies for real estate acquisition, reduce mortgage rates, and fully lift purchase restrictions to cut off the negative feedback of 'dual blows' from stocks and real estate; and substantially raise the upper limit for pension and insurance fund market participation, providing tax incentives to stabilize market valuation centers with 'long money.'

  • ZHIPU Plummets Over 17% in Short Time, Major Long Position Faces Nearly 300% Loss but Continues to Average Down

    On July 20, according to monitoring by Hyperinsight, ZHIPU experienced a sharp decline before the Hong Kong stock market opened, dropping to a low of $120.7 within about an hour, a decrease of approximately 17%. The decline continued during the Hong Kong trading session. On July 13, ZHIPU completed a placement of 19.78 million new H-shares; on July 17, the release of the 28 trillion parameter open-source model KimiK3 by the Dark Side of the Moon heightened concerns about the competitive landscape of domestic large models, leading to a 28.49% drop in ZHIPU's Hong Kong stock that day. As of the time of writing, no new company-level negative news has been reported today. The sharp drop in stock price has further impacted ZHIPU's largest long position (a whale starting with 0xddb). Currently, this whale is holding a long position of 7,300 contracts with a value of approximately $905,000, an average entry price of $174.2, and a liquidation price of about $78.3; it is facing an unrealized loss of about $367,000, with a return rate of approximately -288.2%, equivalent to 2.88 times its initial investment of $127,000. This whale initially opened a long position around $198.45 on the evening of July 6 and has not sold since; as of 10:12 AM today, it continued to average down by adding 409.1 contracts at $129.6.

  • Korean Stocks Dip Below 6500 Points

    On July 20, the South Korean KOSPI index briefly fell below 6500 points, declining by 4.72% during the day.

  • China's Intelligent Computing Power Reaches 2185 EFLOPS

    On July 20, Xie Cun, spokesperson for the Ministry of Industry and Information Technology and director of the Information and Communication Administration, stated at a press conference held by the State Council Information Office that as of the end of June, China's intelligent computing power had reached 2185 EFLOPS, marking a year-on-year increase of 177%. (Xinhua Finance)

  • Surge in Usage of Chinese AI Models by US Companies

    On July 20, Chinese AI models are rapidly gaining market share. According to the latest data from OpenRouter, the proportion of tokens processed by US companies using Chinese AI models on OpenRouter has reached a record high of approximately 58%. This percentage has tripled since mid-January and surpassed that of American counterparts on the platform for the first time in March. The token share of Chinese models briefly rose to 63% in the first week of July. In contrast, the usage share of Chinese models was less than 10% at the beginning of 2025, while American models accounted for about 80%. DeepSeek has become the most popular choice among US companies in recent months.

  • Moody's: South Korea's Economic Growth May Slow in Q2

    On July 20, Moody's Analytics stated in a report that South Korea's economic growth rate may slow from 1.8% in the first quarter to 0.9% in the second quarter. The semiconductor industry, driven by artificial intelligence, will again play a major role in exports, particularly semiconductor exports. Domestic demand in South Korea is expected to remain weak, with only a slight improvement in consumption. High energy costs are exacerbating inflationary pressures, and government measures can only provide partial relief. The preliminary GDP for South Korea's second quarter will be announced on Thursday.

  • BNP Paribas: Fed Rate Hike Expectations Restart, Possible Increase to 4.0% in December

    On July 20, BNP Paribas Wealth Management maintained a neutral outlook on global stock markets and advised investors to strengthen diversified allocations. In light of persistent inflation in the U.S. and slowing economic momentum, the institution adjusted its previous expectation of the Fed keeping interest rates unchanged this year to anticipate a rate hike to 4.0% in December. The bank also upgraded the Japanese stock market to 'overweight' and raised the ratings for European, South Asian, and Southeast Asian stock markets to 'neutral', emphasizing the importance of diversification to cope with market volatility in the second half of the year.

  • Morgan Stanley Lowers South Korea's KOSPI Pessimistic Target to 6000 Points Due to Investor Sentiment

    On July 20, Morgan Stanley reduced its pessimistic target for the South Korean Composite Stock Price Index (KOSPI) from 6500 points to 6000 points, stating that the significant surge earlier this year has caused panic among many investors, leading to a sense of unease at high levels. Analysts noted in their report, "Leveraged exchange-traded funds (ETFs) have driven the KOSPI and the semiconductor sector higher, but the market is showing signs of trading fatigue." Morgan Stanley maintained its benchmark target for the KOSPI at 9000 points while lowering the index's 3 to 6-month fluctuation range to 6000–9000 points. In terms of sector allocation, the firm upgraded the communication services sector to an overweight rating; it listed the banking sector as a top pick, followed by information technology, industrial manufacturing, and healthcare sectors. Within the industrial manufacturing sector, defense and military are the top picks, followed by shipbuilding, power/nuclear power, and overseas engineering contracting sectors. "From a medium to long-term market perspective, the rotation and diffusion of market trends is an inevitable trend; however, in the short term, unless reforms lead to a re-evaluation of valuations or the industrial manufacturing sector experiences a strong rally, it will be difficult to significantly alter the overall market trend relying solely on trend diffusion."

  • Ministry of Industry and Information Technology: Implementation of the 14th Five-Year Plan for the Industry Sector

    On July 20, Wang Weiming, Chief Engineer of the Ministry of Industry and Information Technology, stated at a press conference held by the State Council Information Office that the fundamental trend of stable and positive development in the industrial economy has not changed. Moving forward, we will focus on high-quality development as our primary task, better coordinate development and safety, and implement the industry and thematic sections of the 14th Five-Year Plan in the field of industrial and information technology. We will accelerate the construction of a modern industrial system with advanced manufacturing as its backbone, continuously improve the quality and efficiency of industrial economic operations, maintain stable development in the industrial and information technology economy, and achieve a good start for the 14th Five-Year Plan.

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company