Solana's fee redesign would lift daily SOL burns from 650 to 9,000

Solana traded just above $109 on Friday, up about 50% this month. Validators are casting the chain’s first governance vote, whose result Solana has to follow.

This could slow down the creation of new SOL and increase the amount burned every day.

Solana’s staking yield would slide to 2.25% in three years

Three proposals are available on the ballot. Validators vote, and anyone who has staked SOL with them votes too.

Nothing is settled until epoch 1023 wraps up. Solana was only about two-thirds of the way there on Friday.

SGP-0001 would ratify a Solana Constitution, codifying how these decisions are made. This turns on the svmgov on-chain governance system.

At least a third of all staked SOL has to vote. Two-thirds of the stake that votes has to say yes. Abstaining is not recorded as a no, but it still counts in the total, so it works against a proposal just as a no would.

All three proposals have cleared the quorum. SGP-0001 leads with 95.33% support, and SGP-0002 has 68.63%, both above the two-thirds bar.

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