Resharing some of my thoughts posted on the @NEARProtocol governance forum regarding inflation reduction here: When mainnet was launched, inflation was set to 5% not because we think that number was optimal, but because we expected a lot to be burned in transaction fees and the net inflation in the end to be 2-3%. That didn't happen partially because we reduced gas price by 10x shortly after mainnet launch to make transactions cheaper and more appealing to users and developers. Indeed we saw that cheap transactions enabled great use cases like @SweatEconomy and @CosmoseAI with tens of millions of active users. Now, high inflation keeps compounding and is unhealthy for the growth of the ecosystem and makes it hard to build attractive defi applications since the risk-free staking yield is more than 9% APY. We should change it now for the long term sustainable growth of the ecosystem.