Kraken tips Solana’s razor-thin inflation vote

A highly contentious proposal to alter the inflation rate of SOL, a vote called SGP-0002, has passed with precisely 67% ayes. Official rules require two-thirds of participating stake to pass, so the proposal cleared the bar by barely 0.33 percentage points.

As a result of the vote, SOL’s so-called “disinflation rate” will double from 15% to 30%.

SGP-0002 instructs the network to continue creating new SOL but shrink the inflation rate twice as fast.

After switching its vote at the eleventh hour, holders of staked SOL at crypto exchange Kraken tipped the voting outcome. Its 8.9 million SOL validator, labeled “Kraken 2,” cast 90.34% of its stake in favor of the measure.

Had Kraken’s votes cast No instead of Yes, SGP-0002 would have failed at approximately 63.9%, i.e. below the 66.66% threshold.

Helius CEO Mert Mumtaz celebrated Kraken changing its earlier No indication to a Yes during the final whipsaw.

Contributors from Mumtaz’s firm wrote many of the technical proposals for SGP-0002.

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