HSP-XXX: Sovereign Yield Engine: Treasury-Backed Venture & Protocol Buyback Model for NEAR Intents

HSP: TBD
Title: ​ Sovereign Yield Engine: Treasury-Backed Venture & Protocol Buyback Model for NEAR Intents
Discussions-to: https://houseofstake.org/proposals/cmw7u6p4g0000o80slc61qokd
Status: Draft
Created: 2026-11-08

​[Draft Proposal] Sovereign Yield Engine: Treasury-Backed Venture & Protocol Buyback Model for NEAR Intents

​Executive Summary

​This proposal introduces a capital allocation model for NEAR Intent transaction fees: The Sovereign Yield Engine.
​Instead of relying solely on immediate token burns or programmatic fee distributions, a dedicated percentage of NEAR Intent protocol fees will be routed into short-term U.S. Treasury Bills via institutional asset management partners. The yield generated from these risk-free real-world assets (RWA) will fund early-stage real-world startups that add strategic value to the NEAR ecosystem.
​Upon liquidity events (exits, secondary sales, M&A), the capital returned will flow back to $NEAR token holders, who will vote via governance to allocate returns between $NEAR Market Buybacks or Direct Dividend Distributions.
​Strategic Rationale & Problem Statement

​1. The Value Capture Problem
​Many layer-1 blockchains struggle to convert activity into long-term fundamental value. Fee burns create deflationary pressure, but they do not generate net new external value or capital inflows for the ecosystem.

​2. The Solution
​By converting protocol fee flows into real-world income-producing assets (U.S. Treasuries), NEAR establishes a productive capital base. Using the yield (rather than principal) to back high-upside startups creates an evergreen innovation fund that does not dilute native token holders or rely on inflation.
​System Architecture & Capital Flow

[ NEAR Intent Fees ]
▼
[ Treasury Allocation Pool ] ──(Partnered Asset Manager / Regulated Trust)
│
├─► [ Base Principal ] ──► Short-Term U.S. Treasury Bills (Risk-Free Yield)
│
└─► [ Treasury Yield Flow ]
│
▼
[ NEAR Venture Fund ] ──► Seed Investments in RWA & Strategic Startups
│
▼
[ Liquidity Event / Exit ]
│
▼
[ NEAR Governance Vote ]
┌───────────┴───────────┐
▼ ▼
[$NEAR Buybacks] [Holder Dividends]
(Supply Contraction) (Direct Yield Return)

Key Pillars

1. Institutional Asset Management Partnerships
   To avoid regulatory overhead, legal friction, and licensing hurdles, NEAR Foundation / Ecosystem Entities will contract established, licensed RWA/asset management partners (e.g., Securitize, Ondo, Superstate, or Institutional Trust structures).
   Role of Partner: Custody, legal compliance, KYC/AML enforcement, and execution of T-bill purchases.
   Benefit: NEAR remains lean and focused on tech while delegating compliance and fund administration to regulated professionals.

2. Yield-Driven Venture Funding
   Principal Protection: The core capital derived from NEAR Intent fees remains protected in low-risk U.S. Treasury products.
   Venture Deployment: Only the yield generated from these Treasuries is deployed into early-to-growth-stage startups.
   Target Investments: Startups leveraging NEAR Intent infrastructure, cross-chain abstraction, real-world asset tokenization, or Web2 enterprise integrations driving volume back to NEAR.

3. Dual-Option Value Return Mechanism
   Upon a startup exit or secondary liquidity event, net returns flow into the Governance Treasury. $NEAR token holders vote on allocation via one of two paths:

Option A: Market Buyback & Reserve (Supply Contraction): Systematically execute open-market purchases of $NEAR to reduce circulating supply or lock tokens in ecosystem reserves.

Option B: Staking / Holder Dividends (Cash Flow Yield): Programmatically distribute liquid stablecoins or $NEAR to active network stakers and governance participants