Solana Issuance-Cut Proposal Clears Quorum With Wide Lead for Yes Votes
Summary
- SGP-0002, a governance proposal that would double the pace of cuts to Solana's new issuance, has cleared the quorum required for a vote.
- The proposal would raise the annual disinflation rate to 30% from 15%, aiming to curb long-term circulating supply growth.
- If implemented, the proposal would reduce additional issuance by about 18.9 million Solana over the next six years, equal to about $1.47 billion at current prices.
Forecast Trend Report by Period
A governance proposal to reduce new SOL issuance has cleared the quorum required for a vote.
BlockBeats and other outlets reported on Aug. 27 that voter participation on proposal SGP-0002 stood at 33.84% as of that day, enough to meet the threshold for a decision. The measure would double the pace of cuts to Solana's new issuance.
Yes votes accounted for about 25.84% of total voting power. No votes stood at 5.54%, while abstentions were 2.65%.
The proposal's core aim is to double Solana's annual disinflation rate to 30% from 15%. If it passes, the pace of new SOL issuance would slow sharply, helping curb long-term growth in circulating supply.
Based on current estimates, implementing the proposal would reduce additional SOL issuance by about 18.9 million tokens over the next six years. At current prices, that would be worth about $1.47 billion.
Voting will end in about 26 hours.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul