According to CoinMeta, NEAR Protocol, co-founder, and NEAR Foundation CEO Illia Polosukhin proposed on August 3rd the creation of a protocol sovereign fund with an initial capital of about 30 million NEAR. At current prices, which are around $1.8 per unit, the value of this fund is approximately 57 million US dollars. The plan will channel both current and future protocol revenues into this fund, which is denominated in NEAR. A portion of the earnings will be used for cybersecurity, validator support, multi-party computing providers, and other public products. Polosukhin described this proposal as a discussionary one, not an approved authorization. This fund will combine existing protocol treasuries, earned revenues, and future revenues selected through governance.