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Following
SOL Solana's fee proposal advances, increasing daily token destruction by nearly 14 times.
Solana (SOL) is moving towards a major supply structure shift after the preliminary stage of passing a fee proposal. If the proposal is finally approved, the daily token destruction volume may increase by nearly 14 times compared with current levels.
Key Points:
This proposal could increase the daily SOL destruction volume from approximately 650 to a maximum of 9,000. Before the final governance vote, it still needs to obtain support from 15% of active pledges across the network. Combined supply changes are expected to reduce SOL in circulation by approximately 36.9 million in 2032.
Solana Destruction Vote
On August 4, the "Resource and Inclusive Cost Proposal" entered the support phase. This stage requires at least 15% of the active pledge amount to be endorsed before it can advance to the final governance vote. The vote has not yet been decided.
Under the plan, it is expected that the daily destruction volume will climb from approximately 650 SOLs to 7,500 to 9,000 SOLs. The change will adjust for the impact of network activity on supply, but will not end Solana's ongoing token issuance mechanism.
Analysts estimate that another proposal aimed at accelerating deflation would remove approximately 18.9 million SOLs from projected issuance over six years, worth approximately $1.39 billion at current prices. This distinction is crucial.
If the two proposals (cost adjustment and accelerated deflation) are implemented together, Solana is expected to reach a minimum inflation rate in about 2.8 years instead of the original 5.7 years, significantly advancing the point of slowing supply growth to before 2032.
SOL Supply Outlook
Market estimates show that if 9,000 SOLs are destroyed daily and issuance is reduced at the same time, by 2032, the number of tokens in circulation will be approximately 36.9 million less than the current policy path. However, demand factors remain more critical. Some analysts believe approval of the proposal could push SOL towards $100 in the fourth quarter, but the supply estimates do not take into account changes in demand or broader market conditions.
Analysts estimate that a reduction in supply will increase the implied value of each SOL by approximately 5.3% on a constant basis at market value; if the daily destruction volume reaches 27,000 SOL, the increase may rise to 11.7%.
Using Solana's previous historical high price as a reference, the analysis points out that if demand remains unchanged, the supply effect can increase each SOL by approximately US$32. However, this assumption is used only for illustrative analysis and not for predictive conclusions.
Solana's inflation mechanism has historically gradually reduced circulation to a bottom line of 1.5%, while cost destruction has been negligible in the face of circulation of approximately 65,500 SOLs per day (based on data cited in the analysis). The above proposals will accelerate this shift.
