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Solana SIMD-0228 Proposal Not Passed
According to a previous report by Zombit, the Solana ecosystem governance proposal SIMD-0228 has been a hot topic within the community recently. The proposal aimed to adjust the SOL token issuance mechanism of Solana, shifting from a fixed inflation rate to a dynamic market model based on the staking rate. However, according to the final vote results, SIMD-0228 failed to pass in the validator chain vote, marking a temporary setback for this significant economic policy change.
Statistics show that among the 910 Solana validators who participated in the vote, the number of votes in favor was only 61.39%, far below the required 2/3 majority threshold (66.67%). Specific data shows that the support rate was around 43.6%, the opposition rate was about 27.4%, and the abstention rate was around 3.3%.
Regarding vote weight, the voting/staking weight of the participants accounted for approximately 74% of the total, reflecting a high level of community participation, but consensus was not reached.
SIMD-0228 Proposal Details
The core content of the SIMD-0228 proposal is to change Solana’s current fixed inflation model to a dynamically adjusted issuance mechanism. The proposal sets a target staking rate of 50%, aiming to enhance the network’s security and decentralization through a market mechanism.
If more than 50% of SOL tokens are staked, the token issuance will decrease in inverse proportion to the staking amount, thus suppressing further staking activity by lowering staking rewards and reducing unnecessary token issuance, thereby increasing the scarcity of SOL. If the staking rate is below 50%, the token issuance will increase dynamically to raise staking rewards, encouraging more users to participate in staking and ensuring network security.
Community Support and Opposition
Supporters of the proposal believe that this dynamic model will effectively reduce Solana’s inflation rate and promote the development of decentralization and the DeFi ecosystem. Key figures such as Mert Mumtaz, CEO of Helius Labs, have publicly stated that SIMD-0228 will help accelerate Solana’s transformation into a network based on real economic value and address the issue of the mismatch between the current fixed issuance model and the actual participation in the network.
However, opposition has been equally strong. Solana’s major validator SolBlaze.org and Solana Foundation President Lily Liu have raised concerns about the proposal. SolBlaze warned that SIMD-0228 could lead to a significant decrease in SOL staking, which would affect Solana’s DeFi ecosystem. Lily Liu believes the proposal is still immature and that the market predictability provided by the fixed inflation rate is crucial for financial stability, with dynamic adjustments possibly causing short-term market volatility and long-term uncertainty.
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