Solana Narrowly Passes Faster Cut to Token Issuance
SGP-0002 passed with 67.001% support, doubling disinflation to 30% and cutting an estimated 18.9 million SOL over six years after Kraken and Galaxy moved.
Solana will create new tokens more slowly after validators passed SGP-0002 on August 28, a governance proposal to change the network’s issuance schedule. Support was 67.001 percent, clearing the two-thirds supermajority — the vote share required to alter core parameters — by 0.331 percentage points.
Holders and stakers are the parties exposed. A faster drop in issuance means less dilution of existing SOL. It also means the inflation that pays many staking rewards declines sooner.
Supermajority, not consensus
The vote adopted SIMD-0550, which doubles Solana’s annual disinflation rate — the pace at which yearly issuance shrinks — from 15 percent to 30 percent. The terminal inflation rate, the long-run floor for new issuance, stays at 1.5 percent. The destination did not change. The speed did.
Opposition was large enough to matter. 25.16 percent voted no, and 7.84 percent abstained. Exact participation is not a figure the desk will treat as settled.
The 18.9 million SOL gap
SIMD-0550 estimates about 18.9 million fewer SOL emissions over six years than the previous schedule. That is a comparison of two paths, not a halt to issuance. New SOL still enters the market while the rate falls faster toward 1.5 percent.
The proposal estimates the network would reach that 1.5 percent rate in roughly 2.8 years, compared with about 5.7 years before — a shortening of about 2.9 years. Those are proposal figures. They do not fix a calendar date for the six-year window.
Kraken reversed, Galaxy left abstain
The 0.331-point cushion left large operators inside a very tight result. Kraken reversed its position, and Galaxy flipped from abstain at the end of the vote. Their vote weights are not in the figures available, so the desk will not assign the margin to either firm.
The result still shows that Solana’s on-chain governance can enact a material supply-parameter change when a sizable bloc votes no and the supermajority is only just there.
What remains unknown
Exact turnout remains unconfirmed here. SIMD-0550’s six-year comparison does not name a precise end date. The materials do not establish why Kraken reversed or why Galaxy left abstain, or the calendar date on which the new schedule is fully in force.