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TidelineWhat this page answers: how much swapping NEAR needs for buybacks to cancel out new coins, and how that changes when you move the inputs.
Move the inputs and watch the line move. The big number is : how many dollars a month people would need to swap for to cancel out the new coins from .
$7.9B
short each month at 1.6% issuancestill missing each month at 1.6% issuance
HSP-029 Issuance Schedule
Volume Growth PathSwapping Growth Path
Starts at the measured 95% interval, −1.64 to +1.51. It moves the revenue-maximizing fee, not the volume needed (V*) at today's fee. is how much people change their swapping when the fee changes. It moves the best fee to charge, not the swapping needed at today’s fee. It starts at the measured likely range, −1.64 to +1.51.
Monthly Volume NeededSwapping Needed Each Month
$11.7B
3.1 times today’s $3.77B a month. The likely range runs from $10.2B to $43.2B, because NEAR’s income per dollar swapped moves around. Inputs as of 2026-11-13. does not move this number: at today’s fee, people keep swapping as they do now.3.1× today's $3.77B. Interval $10.2B to $43.2B, from how far revenue per dollar of volume has moved. Inputs as of 2026-11-13. Elasticity does not move this number: at today's fee, volume stays where it is.
When It Is Reached
Not reached at flat volume. Pick a growth path to see a date.Not reached if swapping stays flat. Pick a growth path to see a date.
Revenue-Maximizing FeeThe Fee That Earns NEAR the Most
Only the low end has a maximum: about 7.8 bps at −1.64, against today's 15.4 bps fee rate (DefiLlama fees over volume, 30 days, all sizes; not the realised cost on Follow the Fee). At 7.8 bps, expect about $8.1B a month and need $23.0B (2.8×). From −1 up, revenue keeps rising with the fee.The fee at which NEAR would earn the most from swaps, if the elasticity range is right. Only the low end of the range has a best fee: about 7.8 bps if people react as strongly as −1.64, against today’s fee rate of 15.4 bps. At 7.8 bps, expect about $8.1B of swapping a month, with $23.0B needed (2.8×). From −1 up, NEAR keeps earning more as the fee rises.
Volume Needed Before and Since 27 OctSwapping Needed Before and Since 27 Oct
$10.7B at 5.3 bps from the 30 days before 27 Oct. $13.0B at 4.4 bps from the 17 days since, when swaps began to settle privately. So few days cannot show whether the rate has really changed, and DefiLlama may not see all private volume.$10.7B at 5.3 bps, going by the 30 days before 27 Oct. $13.0B at 4.4 bps, going by the 17 days since, when swaps started going private. That’s too few days to tell whether the rate really changed, and DefiLlama may not see all private swaps.
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