Record Voter Turnout for Key Solana Proposal
Solana’s highly debated governance proposal, SIMD-228, aimed at reducing SOL token inflation, has failed to pass.
Despite 74% of staked SOL participating in the vote, the proposal fell short of the required 66.67% approval.
What SIMD-228 Proposed
The proposal sought to:
Key Highlights:
- Replace Solana’s fixed inflation model (currently 4.6% annually, decreasing to 1.5%)
- Introduce a dynamic system adjusting SOL issuance based on staking levels
- Lower inflation to below 1% at the current staking rate (~65%)
Community Reactions and Implications
The vote’s breakdown was:
Key Highlights:
- 43.6% voted “Yes”
- 27.4% voted “No”
- 61.4% overall support (short of the 66.67% threshold)
Solana developer Mert Mumtaz commented, "Issuance will stay the way it is."
Co-author Tushar Jain noted that despite the proposal’s failure, SIMD-228 was "the largest governance vote ever conducted in crypto history."
Another Proposal Passed: SIMD-123
While SIMD-228 failed, SIMD-123—which introduces on-chain validator reward sharing—was approved with 75% yes votes.
Solana Labs co-founder Anatoly Yakovenko suggested the community was more comfortable with reward transparency than adjusting emissions models.
Read the full article on
theblock.
