Solana's SGP-0002 proposal barely passed, doubling the annual SOL token new supply reduction rate to 30%.
Solana network operators are voting on two proposals aimed at reducing the future supply of SOL tokens. Among them, SGP-0002 proposal barely passed with 68.77% support. This proposal will double the annual new supply reduction rate of SOL tokens from 15% to 30%, which is expected to bring the new token creation rate to a minimum of 1.5% per year in 2029 instead of 2032, reducing the creation of approximately 18.9 million SOL over six years. Another proposal, SGP-0003, which aims to significantly increase token burn, currently has 62.72% support and has not yet reached the required two-thirds support threshold. If passed, this proposal would increase the daily burn from approximately 650 SOL to 7,500 to 9,000 SOL, with an upper limit value of about $800,000 per day based on this week's prices. All three proposals (including SGP-0001, a proposal on governance rules) have met the quorum requirements.
Source:CoinDesk · Source Link
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