Progress on the Solana supply tightening proposal: community turnout was less than 17 per cent, still requiring a third of the participation threshold

On 25 August, the Solana community was advancing two governance proposals, SGP-0002 and SGP-0003, with the objective of tightening the supply of SOL coins through the dual mechanism of "reduce new supply plus increase destruction". Of these, SGP-0003 (detailed mechanism for SIMD-0553) proposes the introduction of a mechanism for transactional fees based on resource consumption, which, based on a charge for network resources occupied by the transaction, is expected to raise SOL daily destruction from the current level of about 650 (approximately $65,000) to between 7500 and 9,000 (approximately $75-9 million). Another proposal, SGP-0002 (detailed mechanism for SIMD-0550), is to double the annual rate of inflation decline for SOL, moving the minimum inflation rate of 1.5 per cent forward to 2029, instead of 2032, as originally planned, with an expected reduction of approximately 18.9 million SOL issuances over the next six years, valued at approximately $1.89 billion at current prices. Both proposals are now at the voting stage. The SGP-0002 voting rate was 16.71 per cent, of which 16.24 per cent, 0.31 per cent against and 0.16 per cent abstaining; and the SGP-0003 voting rate was 13.53 per cent, 13.23 per cent against, 0.27 per cent against and 0.03 per cent abstaining. Both require a one-third participation rate to pass. If the proposal is eventually supported adequately, the Solana network will further optimize the token supply structure by reducing the combination of new distributions and increased transaction costs. The voting process is still ongoing, and further progress will depend on participation and support。