Solana validators passed Governance Proposal SGP-0002, doubling the network's disinflation rate from 15% to 30%, after Helius CEO Mert Mumtaz worked the phones to flip last-minute votes. The measure squeaked through with 67% support, while a companion proposal on transaction fees failed.
Solana validators passed Governance Proposal 0002 in the network's first vote of this kind, doubling the disinflation rate from 15% to 30%. The proposal, titled Double Disinflation, reduces Solana's inflation schedule by increasing the disinflation rate.
Vote passes by a slim margin
The measure looked unlikely to pass just hours before the vote closed. It ultimately drew support from 176.29 million SOL, or 67%, of validators, while 66.19 million SOL (25.16%) voted against and 20.63 million SOL (7.84%) abstained.
Mert Mumtaz, co-founder and CEO of Helius, a Solana-focused service provider and validator, warned that the proposal would not pass and called out validators voting against it under what he described as a false belief that opposing the change preserved extra yield for them. According to Helius CEO Mert Mumtaz, that reasoning was "mathematically nonsense".
Not every no vote shared that reasoning. Everstake said its opposition stemmed from how quickly the change would take effect, its outsized effect on smaller validators, the strain it could place on staking participation and delegators, and downside scenarios that remain unaddressed.
Kraken flips its vote
Mumtaz's outreach ultimately pushed Kraken to change its vote to yes, supplying the margin needed for the proposal to pass. He said the campaign involved 500 calls in the final hours before the vote closed.
Two other proposals went to a vote alongside SGP-0002. The Solana Constitution, SGP-0001, passed comfortably. SGP-0003, the Resource and Inclusion Fee proposal, failed, avoiding a new transaction fee model that would have included a burn percentage.
Source: Bitcoin News
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