Solana proposal to cut inflation rate by up to 80% fails to pass

Solana’s SIMD-228 proposed to dynamically adjust Solana’s inflation rate based on staking participation.

A proposal to dramatically change Solana’s inflation system has been rejected by stakeholders but is being hailed as a victory for the network’s governance process.

“Even though our proposal was technically defeated by the vote, this was a major victory for the Solana ecosystem and its governance process,” commented Multicoin Capital co-founder Tushar Jain on March 14.

Around 74% of the staked supply voted on proposal SIMD-228 across 910 validators, but just 43.6% voted in favor of it, with 27.4% voting against it and 3.3% abstaining, according to Dune Analytics. It needed 66.67% approval from participating votes to pass and only received 61.4%.

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