Kraken's late switch pushed Solana's disinflation vote over the two-thirds line

Solana validators narrowly approved a proposal to double the network’s annual disinflation rate.

It cleared the two-thirds supermajority by just 0.33 percentage points after Kraken flipped most of its stake from no to yes in the last hours.

Issuance reaches its 1.5% floor in 2.8 years

SGP-0002, Double Disinflation, passed with 67% support against 25.16% opposition and 7.84% abstentions, on a turnout of 60.7% of eligible stake. Support was just above the 66.67% bar that the measure needed to pass.

Both supply proposals were turned down by Kraken at 12:33 UTC on August 28. This put SGP-0002 below the supermajority with just less than three hours to go until the count stopped at 15:00 UTC for epoch 1024.

Earlier that morning, support stood at 68.77%, with about 47.72% of eligible stake having voted. Kraken’s no vote knocked support down to about 65%.

Then Kraken moved again. By the close, the proposal had the support of over 90% of the US exchange’s ~8.9 million SOL of voting stake.

… Continue reading the full article at the original source below.