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What did the vote decide?

Solana validators approved the SGP-0002 proposal, which will reduce future SOL issuance on the network. According to the final tally, the proposal received 67% support, while 25.16% voted against and 7.84% abstained; 60.7% of eligible stake participated in the vote.

SGP-0002 raises the annual disinflation rate from 15% to 30%. The network’s long-term target terminal inflation rate of 1.5% remains unchanged. In practice, the move means new SOL production will slow more quickly than under the previous plan.

What changes under the new schedule?

According to Solana Compass data, it will take about 2.8 years for the network to reach its 1.5% terminal inflation rate under the new plan. Under the old schedule, that timeline was expected to be about 5.7 years.

  • Roughly 18.9 million SOL less is expected to be issued over the next six years.
  • That could reduce dilution for existing SOL holders, while pushing staking rewards lower for validators and delegators.

Split views among major validators

The vote also showed there was no complete consensus among the network’s largest participants. In the final governance data, Figment, one of the biggest voters with 17.1 million SOL staked, voted entirely against the proposal. By contrast, Helius and Jupiter backed it more heavily.

Kraken was among the participants that changed position during the voting process. The U.S.-based crypto exchange initially voted against SGP-0002 at 12:33 UTC, briefly pushing support below the required threshold. By the end of the vote, more than 90% of the roughly 8.9 million SOL voting power was cast in favor of the proposal.

The process was part of Solana’s first binding governance vote. In the same package, the proposed Solana Constitution was approved, while a separate proposal on resource and inclusion fees was rejected.

Market impact and effect on investment products

The decision has two financial implications. Lower future supply could help limit dilution pressure on SOL over the long term, but it also carries the risk of reducing staking income for participants who help secure the network.

The governance vote came as interest in U.S.-traded Solana investment products continued to grow. Bitwise’s Solana ETF recently crossed the $1 billion asset mark, becoming the first Solana ETF to reach that level. According to Bloomberg ETF analyst Eric Balchunas, total net inflows into U.S. Solana ETFs have also reached about $1.7 billion, with persistent outflows remaining limited since launch.

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