Solana Governance Vote Passes Emission Reduction Proposal, 1.5% Issuance Floor Brought Forward to 2029

Odaily News: Solana validators have completed the network's first binding on-chain governance vote. Proposal SGP-0002 "Double Disinflation" passed with 67.0% support, slightly above the 66.67% threshold required for approval. During the voting period, cryptocurrency exchange Kraken had consistently voted against the proposal but switched to a supporting vote at the last moment.

The proposal increases the annual disinflation rate of new SOL issuance from 15% to 30%, bringing the fixed 1.5% issuance floor forward to 2029, ahead of the original timeline of 2032. Over the next six years, approximately 18.9 million fewer SOL are expected to be issued.

SGP-0001 "Solana Constitution" passed with 86.0% support by staked stake, officially establishing the framework for future governance voting mechanisms. Following the disinflation adjustment, staking yields are expected to decline from the current rate of approximately 5.25% to around 2.25% within three years.

SGP-0003 "Resource and Inclusion Fee" did not pass, receiving 53.9% support, below the two-thirds threshold. The proposal had sought to split transaction fees into base inclusion fees and resource fees, while increasing the daily burn amount from approximately 650 SOL to a maximum of 9,000 SOL. (Decrypt)