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Solana disinflation proposal passes in first network-wide vote

The plan to speed up cuts to new SOL issuance cleared the two-thirds threshold with 67% support, with 60.7% of eligible stake participating.

Reported · Written up by our desk · Market Structure

CoinDesk reports Solana’s first network-wide governance vote ended in a close finish, with validators narrowly approving a disinflation proposal to cut new SOL issuance faster. The measure, SGP-0002, passed with 67% support, barely above the two-thirds approval threshold, while about 25% voted against and 7.84% abstained.

CoinDesk says participation reached 60.7% of eligible stake, meeting the one-third quorum requirement. The tally depended on last-minute switches, including Kraken 2, a validator tied to Kraken and representing about 2% of votes, changing its vote from against to for near the deadline.

CoinDesk also reports that Galaxy, an asset manager with roughly 1.7% voting weight, shifted its stance in the final minutes from mostly abstaining to majority for, helping push the proposal over the line. After the vote closed, SOL bounced near the end of the process but remained below Thursday’s high, and was down 1.2% over the past 24 hours near $106.

CoinDesk notes the vote was Solana’s first network-wide governance exercise and included three proposals covering how the network makes decisions and its token economics. While SGP-0002 passed, SGP-0001, described as a constitution for future governance, passed with 95.35% support, and SGP-0003, which would have changed transaction fees to burn more SOL, failed.

Latest closeSolana $103.00 ▼5.7%

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