- Solana stakeholders shut down a proposal to reduce new tokens.
- Doing so could’ve hurt the network’s decentralisation, detractors said.
- The vote represents a historic moment in Solana’s decentralised governance.
On Thursday, Solana stakeholders rejected a proposal to lower the $3.5 billion in tokens granted to stakers each year.
Proposal SIMD-0228 sought to reduce the amount of Solana tokens awarded based on the total amount of tokens staked, and continue to cut the blockchain’s emissions by a flat 15% each year until hitting a base inflation rate of 1.5%.
In a close fight, detractors said the cuts would mean small validators existing on razor thin margins would no longer be able to profit, and force them to shut down, which would harm Solana’s decentralisation. The sceptics won the vote.
Validators run the software that processes transactions on the Solana blockchain.
Despite the proposal’s failure, many in the Solana…
