Solana Proposal Aims to Boost Daily Burns to $650,000

A new proposal on the Solana blockchain aims to increase daily burns of SOL from $47,000 to up to $650,000. The proposal, which has already received support from 24.94 million SOL (5.8% of staked), would introduce resource-based fees that charge transactions according to the network resources they consume.

The proposal also doubles the annual disinflation rate to 30%, pulling Solana's 1.5% terminal inflation floor forward to 2029 from 2032. This change removes about 18.9 million SOL of emissions over six years, worth roughly $1.36 billion.

The initial support for the proposal stands at 24.94 million SOL, with 16 validators signaling in favor. However, the increase in burns is smaller than it sounds against what Solana issues, as the fee change alone does not turn SOL deflationary.