Solana Validators Vote on Proposals That Could Push Daily SOL Burns to $800,000

Solana’s network is holding a rare governance vote this week that could significantly slow how much new SOL gets created while sharply increasing how much gets destroyed.

Three Proposals Up for Vote

Solana validators began voting Sunday on three separate proposals, with the vote running through Thursday around 15:30 UTC. Votes are weighted by how much SOL each validator or their delegators have staked, giving more influence to those with larger holdings locked into the network.

Proposals Target Supply and Fees

The first supply-related proposal, SGP-0002, would double the rate at which Solana reduces new SOL creation, from 15% a year to 30%, reaching its inflation floor faster. The second, SGP-0003, would split transaction fees into two parts: one going to the validator that produces the block, and another, based on computational demand, permanently burned. That change could raise daily burns from about 650 SOL to between 7,500 and 9,000 SOL, worth roughly $61,000 to $846,000 at current prices.

A Constitution and an Odd Sequence

The third proposal, SGP-0001, ratifies what the network calls the Solana Constitution, formally establishing how future decisions get made and activating the voting software itself. Notably, the two supply proposals are being decided through this same system before that system has been formally ratified. SOL traded above $96 early Monday, up 28% over the past week.