Solana Governance Proposal Clears Quorum, Reducing New Issuance
Solana's governance proposal to reduce new issuance has reached quorum, clearing the threshold for a vote. The proposal, SGP-0002, would double Solana's annual disinflation rate from 15% to 30%, aiming to curb long-term circulating supply growth. If implemented, it would slow down new SOL issuance sharply and help control growth in circulating supply.
According to the latest figures, yes votes accounted for about 25.84% of total voting power, while no votes stood at 5.54%. Abstentions were recorded at 2.65%. The proposal's core aim is to reduce additional SOL issuance by approximately 18.9 million tokens over the next six years, worth around $1.47 billion at current prices.
The proposal has been met with interest from voters, with participation reaching 33.84% as of August 27. This surpasses the threshold required for a decision. Voting will conclude in about 26 hours.