Solana’s governance proposal SIMD-228 to reduce inflation failed, receiving only 43.6% approval instead of the required 66.67%.
The proposal aimed to make inflation rates dynamic, but concerns over smaller validator profitability and network stability led to its rejection.
A proposal to change Solana’s inflation model, SIMD-228, failed to secure the required votes for approval. Although this was turned down, it was a significant development in governance participation on the network.
Multicoin Capital co-founder Tushar Jain highlighted the event’s importance, stating that it is a win for Solana governance. Dune Analytics revealed that 74% of the staked supply engaged in the vote, and 910 validators were involved.
The proposal was approved by 43.6 %, 27.4 % rejected it, and 3.3 % were neutral. Additionally, it required the endorsement of 66.67% of the voting members and only received the approval of 61.4%.
This proposal sought to alter the inflation rate from a fixed rate to a
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