Voting

Solana proposal SIMD-0228 voting progress: 58% of validators participated in the vote, with 37.8% voting in favor

ChainCatcher news, according to CoinDesk, the Solana SIMD-0228 proposal could lead to a significant decrease in the inflation rate of SOL, with 37.8% of network validators supporting the proposal as of the time of writing.According to data from Dune Analytics, 746 validators (nearly 58% of the total 1,334 active validators) have voted on the proposal. 37.8% voted in favor, 18.5% opposed, and 1.2% abstained. Overall, as of the writing of this article, the proposal seems to be on the verge of failing. Voting will conclude at the end of Epoch 755, which is scheduled to occur in about 11 hours.The proposal advocates for a market-based token issuance mechanism to ensure that the network does not pay excessively for security, and it is expected to have a positive impact on decentralized finance based on Solana, as well as enhance liquidity in the on-chain SOL market. According to some estimates, the proposal could reduce the inflation rate of SOL from 4.5% to about 0.87%, a decrease of 80%.Tagus Capital expects this to have a positive impact on the price of SOL. The company stated in its Thursday newsletter, "If approved, it will significantly reduce staking rewards and new SOL supply, potentially increasing its value. However, lower rewards may force smaller validators to exit, raising concerns about the decentralization of the network. However, lower rewards may force smaller validators to exit, raising concerns about the decentralization of the network."
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