Solana Will Now Print Less SOL as Disinflation Vote Passes in Dramatic Fashion

In brief

• Solana closed its first binding on-chain governance vote, passing SGP-0002 to double the network's disinflation rate from 15% to 30%, hitting the 1.5% issuance floor by 2029 instead of 2032.
• The vote came down to the wire, passing 67.0% to 66.67% required, after Kraken opposed it through the count before flipping at the last minute.
• Validators also ratified SGP-0001, the Solana Constitution, with 86% support, but rejected SGP-0003, a "Resource and Inclusion Fee" that would have burned up to 14x more SOL daily.

The Solana network will soon print a lot less SOL on a yearly basis, as network validators today voted to double the rate of disinflation for the token.

It’s music to the ears of Solana investors, who expect the outcome of today’s vote to be bullish for the price of SOL going forward. But it didn’t come without some drama.

Solana validators today closed out the network's first-ever binding governance vote, a stake-weighted ballot run through the new Solana Governance Proposal system, otherwise known as SPGs, that lets validators and their delegators vote on-chain for the first time.

The package today bundled three proposals, and they did not all land the same way.

The most consequential of the trio was SGP-0002, the "Double Disinflation" proposal, which only passed by a hair—67.0% for (176.29M SOL) against 66.19M against, on 1,326 votes, with 60.7% quorum.