Solana Governance Vote Passes Token Issuance Reduction Proposal, 1.5% Issuance Floor Reached Early in 2029

Odaily News - Solana validators have completed the network's first binding on-chain governance vote, with SGP-0002 "Double Disinflation" passing 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 rate at which new Solana token issuance decreases from 15% to 30%, bringing the fixed 1.5% issuance floor forward to 2029, earlier than the originally planned 2032. Over the next six years, approximately 18.9 million SOL are expected to be issued less than under the previous schedule.

SGP-0001 "Solana Constitution" passed with 86.0% support by participating stake, formally establishing the framework for future governance voting mechanisms. Following the issuance reduction, staking yields are expected to decline from the current approximately 5.25% to around 2.25% within three years.

SGP-0003 "Resource and Inclusion Fee" failed to pass, receiving 53.9% support, below the two-thirds threshold. The proposal had sought to split transaction fees into a base inclusion fee and a resource fee, while increasing daily token burns from approximately 650 SOL to a maximum of 9,000 SOL. (Decrypt)