Solana Fees Soar as Double Disinflation Proposal Passes

Solana's fee generation has hit a record high, reaching a seven-day average of nearly 9,200 SOL on August 27, an increase of over 80% compared to three months prior. This surge in fees is accompanied by a significant rise in non-vote transactions, which set a new record high of 191 million on a seven-day basis.

The Jito validator tips averaged 2,073 SOL per day over the past week, up 26% from the previous week, indicating increased on-chain activity. This increase in fees is largely driven by the growing use of the Solana network.

In related news, the Double Disinflation proposal (SGP-0002) passed with 67% support, doubling the annual disinflation rate from 15% to 30%. This will result in a reduction of approximately 18.9 million SOL from projected issuance over six years.