# Base-Layer Issuance and Treasuries Come Under Governance Pressure

As fee revenue fails to cover security spending, proof-of-stake networks will keep putting issuance cuts and treasury spending to token-holder votes, shifting costs between holders, validators and applicants and testing whether governance can act as a monetary authority.

- Conviction: 40 / 100 (forming)
- Horizon: Emerging (watchlist)
- Tracking since: 2026-10-23T00:00:00.000Z
- Last updated: 2026-10-23T06:33:06.022Z
- Canonical: https://polylog.news/crypto/trends/l1-security-budget-repricing
- Publisher: Polylog
- Affected regions: Global

## Recent evidence

- [confirms] Proposal to Cut NEAR Issuance by 36% Splits Validators, While Cardano Holders Weigh 22 Million ADA for Tokenized Copper (2026-10-23): A proposal to cut NEAR issuance by 36% has split validators, and Cardano holders are weighing 22 million ADA from the treasury for a tokenized copper position. Two more networks are putting monetary issuance and treasury spending to token-holder votes.