Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
Following
SOL Major turn: Solana inflation reform attracts attention
As the countdown to the Solana Network's vote on its breakthrough token economy reform approaches, a key shift has quietly occurred. Kraken, the U.S. cryptocurrency exchange, changed its stance and backed a proposal that focused on deflation. This last-minute adjustment changed the balance of power between the main validators and the community before the vote closed.
Has Kraken changed the landscape?
Yes, Kraken's major move reshaped the landscape. The developers have two separate proposals before them for a vote. The main proposal SGP0002 aims to increase the rate of inflation reduction from 15% to 30%, thereby significantly limiting SOL supply growth. If the proposal is passed, it will reduce the issuance of 18.9 million SOLs, with the goal of reducing the final inflation rate to 1.5% by 2029.
Initially, Kraken, together with Figment, Everstake and P2P.org, opposed the reform, mainly out of the consideration of safeguarding the pledge income. However, as retail investor dissatisfaction grew, the growing pressure eventually prompted Kraken to shift his official vote from opposition to support.
Kraken's last-minute support highlighted the community's profound influence over the main validators in one of Solana's most critical votes.
What is the support threshold?
The voting participation rate was 60.17%, exceeding one-third of the required quorum. However, the support rate for SGP0002 is only 65.15%, corresponding to 169.91 million SOLs. The threshold required for the proposal to pass is two-thirds, or 66.67%.
At present, the support camp is still 1.52 percentage points short of the mandatory adoption standard, and the opposition camp accounts for 25.39%, corresponding to 66.22 million SOLs. The abstention rate was 9.47%, equivalent to 24.69 million SOLs.
Although the majority is in favor, SGP0002 has not yet reached the required two-thirds pass threshold.
Is the second proposal successful?
No, the second proposal SGP0003 failed to pass. The proposal aims to significantly increase the daily rate at which SOL is destroyed from transaction fees. As most of the main validators chose to abstain, the proposal's passage became elusive and ultimately formally failed.
Helius CEO Mert Mumtaz called on Solana co-founder Anatoly Yakovenko to mobilize the remaining validators. Helius is a technology company that provides infrastructure and developer tools for the Solana ecosystem.
What are the implementation steps?
Supporters of SGP0002 may win, but the changes will not take effect immediately. The referendum granted only political authorization. Implementation requires the application of technology updates to SIM0550. Coordination between validators is needed and is expected to take at least 4.5 months.
The vote passed smoothly to confer political power, but immediate execution was not automatic. Technology updates such as SIMD 0550 are crucial. As the Solana community looks forward to possible deflationary times, any successful implementation will require careful coordination.
