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SOL Solana News: SGP-0002 passed, SOL circulation reduction doubled
Solana's first on-chain governance vote came to a close by a narrow margin.
Proposal SGP-0002, which aims to double the rate of online deflation, narrowly passed with a support rating of 67%, just above the 66.67% threshold, while another related fee-burning proposal failed. This is Solana's most important news this week, covering everything from SOL circulation to network speed upgrades.
The voting window will open on August 22, 2026 and close on August 27. The final results will be confirmed online through the network's new governance system.
Solana Deflation Vote: What was actually passed
Core Proposal SGP-0002, tracked down as SIMD-550, doubles the annual deflation rate from 15% to 30%. This is an SOL inflation-cutting measure, not an immediate supply shock-it accelerates the slowing pace of new token creation each year.
Specific indicators and results are as follows:
Support rate: 67.0%(176.29M SOL)
No: 66.19M SOL
Quorum: 60.7% Participation Rate
Reduced SOL casting volume in the next six years: approximately 18.9 million SOL
New terminal interest rate target year: 2029 (ahead of 2032)
The results of this Solana governance vote mean that circulation will decrease significantly in the next few years, but the change will still require technical activation through future Solana improvement documents before it can be launched on the main network.
Kraken's Solana vote determines the final result
Approval of the proposal depends on only one verification node. Exchange operator Kraken initially voted against the measure, briefly sending support below the required threshold. In the last hour, Kraken changed his stance, and more than 90% of the approximately 8.9 million SOLs it mortgaged turned to "yes." Without this shift, the proposal would have failed with about 63.9%.
Another related measure, SGP-0003, aimed at boosting cost burning, apparently suffered a defeat-with support of around 54%, well below the two-thirds threshold required for passage.
Solana 2026 network upgrade: Block time has also been reduced
In addition, the blockchain is undergoing a phased speed upgrade under SIMD-0525. Block production time has now dropped to 300 ms for the first time, compared to 400 ms just eight days ago:
400 ms → 350 ms (August 21)
350 ms → 300 ms (latest activation)
followed by two more phases of reduction, targeting 200 ms. Each step requires new validation node approvals to move forward with the next reduction.
Today's SOL Price News: Market Reaction
After the vote, on-chain trackers found a whale purchase worth approximately US$29.58 million on the coin, indicating that large holders are laying around the prospect of tight supply.
According to the latest CoinGecko data, SOL is currently trading at US$103.42, down 3.4% in the past 24 hours.
Specific market indicators are as follows:
Current price: $103.42
24-hour change: -3.4%
Market value: $60.627 billion
24-hour trading volume: $5.327 billion
Circulation supply: 584.162M SOL
Total supply: 633.079M SOL
Analysts note that this result may support SOL's price narrative, although market conditions may also change as changes in deflation rates are implemented.
This incident has become one of the most influential updates to the Solana Token Economy Roadmap in recent crypto news.
