Solana Proposal SIMD-0553 Could Burn Up to $650K Worth of SOL Daily
A new Solana proposal called SIMD-0553 could drastically increase the daily burn of SOL, its native cryptocurrency. If passed, this would result in a 12 to 14x increase in the amount of SOL permanently removed from circulation every day.
The current flat fee model for transactions on Solana charges 5,000 lamports per signature. The new proposal splits this into two components: a 2,500-lamport inclusion fee that goes to the block leader and a resource fee calculated based on the compute units requested by a transaction.
The resource fee would get burned entirely, leading to a significant increase in daily SOL burns. From $47,000 to potentially up to $650,000 per day, this could have a substantial impact on Solana's inflation rate and overall supply growth.