Solana Approves Major Supply Reduction Proposal with Narrow Margin
- The proposal to double Solana’s annual disinflation rate was accepted with a vote of 176.29 million SOL For, 66.19 million SOL Against, and 20.63 million SOL Abstain.
- The approval represents about 67.0% of the total displayed turnout of 263.12 million SOL.
- Support for the proposal, when calculated against decisive stakes, was approximately 72.7%, exceeding the two-thirds threshold by about 14.64 million SOL.
- Validators from Kraken and Galaxy shifted their votes shortly before the deadline, contributing to the proposal’s narrow passage.
- The proposal aims to increase annual disinflation from 15% to 30%, while maintaining a terminal inflation rate of 1.5%.
The acceptance of SGP-0002 marks a significant step in Solana’s governance process, providing a mandate for lower issuance rates but requiring further technical implementation via SIMD-0550 before any changes take effect.
With a final tally showing support at 176.29 million SOL, Solana has initiated a pivotal shift in its monetary policy, although actual changes will depend on successful execution and coordination among validators.
