Solana Votes on Burn Rate Hike Amid Token Issuance Cuts

The Solana network is set to hold an initial vote on two related proposals that could lead to a significant increase in the share of transaction fees burned and a reduction in new token issuance.

According to Odaily, the proposals will be voted on later today, August 3. If both pass, the annual inflation reduction rate for SOL will increase to 30%, resulting in reduced new SOL issuance by approximately $1.36 billion over six years compared to the current plan.

This change is expected to ease supply pressure on SOL as average daily SOL burns are projected to rise from about 650 tokens to 9,000 tokens.