Solana approves change to token issuance schedule with 67% support

Solana validators just pulled off something the network has never done before: passed a binding on-chain governance vote. The proposal, known as SGP-0002 or “Double Disinflation,” squeaked through with 67.001% support, doubling the annual disinflation rate from 15% to 30%. The practical effect is that Solana’s inflation rate will shrink twice as fast, reaching its terminal rate of 1.5% by roughly H1 2029 instead of H1 2032.

An estimated 18.9 million SOL tokens will simply never be minted over the next six years as a result. For a network currently running at approximately 3.82% inflation with around 68% staking participation, that’s a meaningful shift in tokenomics.

A nail-biter with late drama

The vote tallied 176.29 million SOL in favor, 66.19 million against, and 20.63 million abstaining. That works out to a 60.7% voter participation rate across 1,326 validators.

The final hours played out with last-minute vote switches reshaping the outcome. Kraken-linked validators, representing about 2% of total vote weight, flipped from opposing the proposal to supporting it. Galaxy validators made an even more dramatic shift, moving from abstention to majority support, adding roughly 1.7% of vote weight to the “yes” column.

The proposal was authored by Helius engineers Lostin and 0xIchigo. Supporting voices included Helius itself and Jupiter. On the other side, Figment and Everstake publicly opposed the change, arguing it would erode staking yields and validator rewards.

What “double disinflation” actually means

Solana’s inflation model works on a schedule that decreases by a fixed percentage each year, gradually approaching a floor called the terminal rate. Under the old schedule, that rate was closing at 15% per year. Now it closes at 30%.

The terminal rate itself doesn’t change. It’s still 1.5%. Under the previous trajectory, Solana wouldn’t have hit 1.5% until around H1 2032, roughly 5.7 years from now. The new schedule compresses that timeline to about 2.8 years, targeting H1 2029.

The 18.9 million SOL that won’t be issued represents a 2.6% lower supply trajectory compared to the old plan. That’s not a token burn. It’s tokens that would have been distributed gradually to validators as staking rewards over the coming years.

Why this vote matters beyond the numbers

This is Solana’s first successful network-wide binding governance vote. An earlier attempt in March 2025 with proposal SIMD-228 failed to pass. That proposal also sought to modify Solana’s inflation mechanics but couldn’t muster enough support.

The flip side of a 67% vote is that 33% of participating stake actively opposed or abstained. Figment and Everstake operate across multiple proof-of-stake networks, and their concerns about reduced validator economics remain on the record.