Solana's Yakovenko Floats Token-Powered Acquisition Plan, But Details Remain Elusive

Solana co-founder Anatoly Yakovenko has proposed expanding the supply of SOL tokens to acquire a company, but the proposal lacks crucial details on how this would work.

In an August 15 post, Yakovenko suggested that minting new SOL tokens could be used to buy a company, which would then use its revenue to purchase and burn additional SOL tokens. He described this as a more bullish approach than simply reducing inflation.

However, experts have pointed out that the current governance framework of Solana does not allow for buying companies with SOL tokens. A validator vote account with at least 100,000 SOL staked may submit a proposal, but approval would require two-thirds of decisive stake and individual delegators can override their validator's vote.

Helius CEO Mert Mumtaz responded sarcastically that validators would have to agree on running a company, but the governance framework does not specify who could sign a purchase agreement or direct revenue. The Solana Foundation describes itself as a nonprofit organization, while Solana Labs is a separate company group.