Solana has completed its first binding on-chain governance vote, with all three proposals passing above quorum. The votes represent significant changes to the network's tokenomics going into September.
SOL climbed above $105 for the first time since January and is up approximately 44% in August, marking its strongest month since 2024. The price action coincided with the governance vote closing on the same day.
Supply Schedule Changes
The approved proposals will reshape Solana's token issuance. SGP-0002 doubles the disinflation rate from 15% to 30%, accelerating the timeline to reach a fixed 1.5% inflation floor to 2029 instead of 2032. This change removes roughly 18.9 million SOL from the projected issuance schedule, with impacts falling primarily on stakers whose yield is derived from issuance. Current staking yields of approximately 5.25% are projected to decline to around 2.25% within three years.
SGP-0003 addresses supply from another angle by splitting transaction fees into a base fee paid to validators and a new resource fee tied to computational usage that is destroyed outright. Current daily burns of approximately 650 SOL, worth roughly $48,000, could increase to as much as 9,000 SOL, worth around $668,000.
Institutional Divergence
The votes were not unanimous among major stakeholders. Solana Company, the Nasdaq-listed treasury firm trading as HSDT, voted against both economic changes, arguing that institutional stakers require predictable yield. Conversely, DeFi Development Corp voted in favor of all three proposals and subsequently purchased 19,000 SOL for $1.86 million at an average of $98.14, marking the company's first SOL purchase since October 2025. DFDV shares gained more than 16% Thursday and have doubled over the past month.
Broader Market Developments
Beyond governance, Solana received institutional exposure news when Charles Schwab announced plans to add SOL, AVAX, and LINK to Schwab Crypto, expanding access to tens of millions of brokerage accounts.
The Bitcoin ETFs saw $242 million in net inflows on Thursday, while Ethereum ETFs saw $225 million in inflows. Bitcoin traded at $79,600.
