Four hours before the voting deadline, a large token holder cast a “no” vote. The support rate for Solana’s double deflation proposal dropped to 63.67%, still short of the passing threshold by 3 percentage points. Three hours later, the result was reached at the last moment, hitting the 2/3 threshold and passing.
This is the first time governance voting has ever happened in Solana’s history. SGP-002 reduces the annual inflation rate from -15% to -30%, which is, in mechanism terms, called “double deflation.” In the same round, SGP-001—an amendment to the constitution—passed with 89%, while SGP-003’s resource fees were only approved at 52.3%, with plenty of controversy.
Why talk about it now? Because the price moved first—SOL surged more than 20% this week, topping out at 110.6 in the spot market before pulling back to 104. Institutions are buying too; Bitwise’s BSOL allocation has just crossed $1 billion.
Passing is only the start. Deflation affects future supply, not the existing stock. Next, we need to see whether validators truly carry it out, and whether the fee-burn data can deliver.
The question is: a chain that rose on performance suddenly bets its coin price on governance voting—does that sound like maturity or internal friction?
This is the first time governance voting has ever happened in Solana’s history. SGP-002 reduces the annual inflation rate from -15% to -30%, which is, in mechanism terms, called “double deflation.” In the same round, SGP-001—an amendment to the constitution—passed with 89%, while SGP-003’s resource fees were only approved at 52.3%, with plenty of controversy.
Why talk about it now? Because the price moved first—SOL surged more than 20% this week, topping out at 110.6 in the spot market before pulling back to 104. Institutions are buying too; Bitwise’s BSOL allocation has just crossed $1 billion.
Passing is only the start. Deflation affects future supply, not the existing stock. Next, we need to see whether validators truly carry it out, and whether the fee-burn data can deliver.
The question is: a chain that rose on performance suddenly bets its coin price on governance voting—does that sound like maturity or internal friction?