Solana validators approved Governance Proposal 0002 (SGP-0002) to accelerate the network's disinflation schedule, narrowly clearing the threshold needed for implementation.
The proposal sought to increase Solana's disinflation rate from 15% to 30%, effectively reducing inflation over time. It received support from 176.29 million SOL (67% of votes), with 66.19 million SOL (25.16%) opposed and 20.63 million SOL (7.84%) abstaining.
The vote outcome remained uncertain until its final hours. Mert Mumtaz, CEO of Helius, a Solana validator and service provider, publicly urged validators to reconsider opposition to the proposal. Mumtaz characterized voting against the measure as "mathematically nonsense" and criticized the reasoning some validators offered for their opposition.
Mumtaz's outreach efforts proved decisive. Kraken, a major crypto exchange and validator, reversed its position to vote yes, providing the margin needed for passage. "After 500 calls in the past few hours we got all the votes in the last seconds and passed the disinflation proposal by a literal hair," Mumtaz stated.
Not all opposition stemmed from the same concerns. Everstake voted no citing disagreements with "the pace of the proposed change, the disproportionate impact it could have on smaller validators, the pressure it may put on staking participation and delegators, and the downside scenarios that remain unaddressed."
Two other Solana governance proposals were voted on concurrently: SGP-0001, the Solana Constitution, passed comfortably, while SGP-0003, titled "Resource and Inclusion Fee," failed to pass, preventing implementation of a new transaction fee model with a burn percentage.
