- Solana validators approved SGP-0002, doubling the annual disinflation rate from 15% to 30%.
- The measure passed with 67% support and 60.7% participation, clearing a two-thirds threshold by a slim margin.
- The change is projected to cut about 18.9 million SOL in new issuance over six years and bring terminal 1.5% inflation forward to around 2029.
- A companion fee-burn proposal failed; a Solana Constitution proposal passed.
- Kraken and Galaxy-linked validators shifted late, tipping the tally.
Solana validators on Friday approved a plan to shrink new SOL issuance faster, in the network’s first binding, network-wide governance vote, after late swings from large custodians pushed the measure over a two-thirds threshold.
The finalized tally showed 176.29 million SOL in favor of SGP-0002, or about 67% of displayed turnout, against 66.19 million SOL opposed and 20.63 million SOL abstaining. Participation reached 60.7% of the 433.49 million SOL snapshot, above the one-third quorum. Support among decisive (for-plus-against) stake was higher, at roughly 72.7%.
Authored by Helius contributors Lostin and 0xIchigo, the accepted proposal doubles Solana’s annual disinflation rate from 15% to 30% while leaving the long-term inflation floor at 1.5%. The schedule would reach that terminal rate in about 2.8 years instead of roughly 5.7 years, removing an estimated 18.9 million SOL from projected emissions over six years.
The vote went to the wire. CoinDesk reported that a Kraken-linked validator flipped from against to for near the deadline and that Galaxy-linked stake moved from mostly abstaining to majority support. Helius CEO Mert Mumtaz wrote on X that after hundreds of calls, “we got all the votes in the last seconds and passed the disinflation proposal by a literal hair.”
Staking firms were split. Figment was among the largest no votes, while Helius and Jupiter backed the cut, according to Cointelegraph. Faster disinflation reduces dilution for holders but also compresses staking yields as issuance declines. The change still requires client implementation and a feature-gate activation via SIMD-0550; it is not live yet.
Validators separately ratified SGP-0001, a constitution setting future voting rules, and rejected SGP-0003, which would have burned a larger share of transaction fees. SOL traded near $104-$106 after the close, off session highs near $110.
