Solana Supply Cut Proposal Narrowly Passes, Burn Plan Falls Short

Solana (CRYPTO:SOL) stakeholders are voting on two key proposals that could significantly alter the network's token supply and economic rules. The first proposal, which has garnered 68.77% support, aims to reduce new SOL creation by 30%, down from 15%. This plan has narrowly passed the required two-thirds approval threshold.

A second proposal seeks to increase daily SOL burns from approximately 650 tokens to a range of 7,500-9,000 tokens, effectively destroying up to US$800,000 worth of SOL at current prices. However, this burn proposal lags behind with only 62.72% support and remains below the two-thirds threshold needed for approval.

Solana Company has publicly expressed its support for governance proposals but opposes both supply changes due to concerns about predictable economic rules. Despite these differing views, neither of the votes will have an immediate impact on Solana, as approved proposals still require separate technical development and implementation before they can take effect.