Solana Governance Test: Proposal to Reduce Emissions Passes by Narrow Margin

The Solana network approved a proposal to accelerate the reduction of new SOL token emissions in a closely contested vote, marking its first major governance test.

The SGP-0002 proposal passed with 67% support, narrowly surpassing the two-thirds threshold required for approval. Approximately 25% of voters opposed the measure, while 7.84% abstained. The participation rate reached 60.7% of eligible stakers, exceeding the minimum quorum of one-third.

Mert Mumtaz, CEO of Helius and a key proponent of the proposal, noted that 'after 500 calls in the last hours, we got all the votes in the last seconds and approved the deflation proposal literally by a thread.'

The approval follows a recent surge in SOL's price, which has been driven by expectations of changes to the token's economy. The SGP-0002 proposal is aimed at reducing future emissions, while another measure to increase the burning of SOL was rejected.