Solana validators approve proposal to accelerate SOL disinflation
Related
Solana has launched an on-chain governance mechanism, requiring proposals to receive 15% staking support before they can be voted on.
ChainCatcher reports that the Solana Foundation has officially launched its on-chain governance mechanism, Solana Governance Proposals (SGP). Validators can now submit, support, and decide on core protocol decisions through SGP. All proposals are conducted on-chain, using a staking-weighted voting mechanism and verified via Merkle proofs. Any validator with at least 100,000 SOL delegates can initiate an SGP. Unlike Solana Improvement Documents (SIMD), which focus on technical and protocol changes, SGP primarily serves to express opinions on ecosystem governance. Proposals must receive at least 15% network staking support before entering the formal voting phase.
Sharplink Co-CEO Joseph Chalom: Ethereum has over 900,000 validators, while Solana has fewer than 800.
According to Odaily Odaily, Joseph Chalom, co-CEO of Sharplink and former executive at Blackrock, stated that Ethereum boasts over 900,000 validators and over 1 million developers, possessing a decentralized advantage that Solana cannot match. Electric Capital data shows that 1,012,824 developers have contributed code to Ethereum, with approximately 232,000 remaining active in the past 12 months. Chalom noted that Solana has fewer than 800 validators, and 92% of them run on the same client. Data shows that Sharplink held 886,725 ETH as of late June. (Bitcoin.com News)
Solana Will Now Print Less SOL as Disinflation Vote Passes in Dramatic Fashion
The "Double Disinflation" proposal squeaked through by a razor-thin margin after Kraken nearly sank it, while a separate fee-burning measure failed.
Solana has implemented on-chain governance, setting the entry threshold at staking 100,000 SOL tokens.
According to Foresight News , CoinDesk reports that Solana has enabled on-chain governance. Its GitHub repository shows that the system, for the first time, grants its validators and token holders the right to directly and documentedly vote on the network's future. Submitting a proposal requires staking 100,000 SOL (approximately $7.7-7.8 million based on an SOL price of $77-78). A proposal needs 15% active staking support to enter the voting stage, and two-thirds of the staking votes are required for passage. The results are recorded on-chain. This system empowers delegators, ordinary users who stake their SOL with validators instead of running nodes and collecting staking rewards themselves. Delegators can now overturn validator votes or cast their own vote if a validator abstains, with all votes weighted by the delegator's own stake. The Solana Foundation calls this "stakeholder sovereignty," aiming to retain true voting power in the hands of the actual token holders, rather than entirely relinquishing it to the validators they delegate to.
Morning Minute: Solana Jumps with Network Inflation Set to Drop
Two majors proposals are set to pass, its leading DATs are back, and Schwab is offering SOL to its clients—quite the setup for Solana.
Solana transactions hit record 4.2B as SOL rallies 40%
Tokenized real-world assets on Solana are nearing $4 billion as network activity accelerates alongside a broader recovery in crypto markets.