RESOLVING THE LEDGER
This is one outlet's own report from CoinDesk — the article as it was filed. Other outlets are covering the same event; open the full story to compare every source side by side.
See the full story · 2 sources
The proposal, called SIMD-0553, introduces resource-based fees that charge transactions according to the network resources they consume. That would lift daily burns from around 650 SOL, about $47,000 at current prices , to between 7,500 and 9,000, or up to roughly $650,000 a day.
A separate SIMD-0550 doubles the annual disinflation rate to 30%, which pulls Solana's 1.5% inflation floor forward to 2029 from 2032 and removes about 18.9 million SOL of emissions over six years — worth roughly $1.36 billion at current prices.
SIMD stands for Solana Improvement Document, the technical proposal process core developers use for protocol changes. SGP is Solana Governance Proposal, the newer stake-weighted vote that sits above it.
The two proposals impact supply from both ends, burning more of what exists while issuing less of what is new. Solana's inflation rate currently sits near 3.8%, down from an 8% start under a schedule that cuts 15% a year.
Initial support stands at 24.94 million SOL, or 5.8% of the 432.65 million staked, roughly 38% of the way to the 15% threshold a proposal must clear before it reaches an actual vote. That leaves 39.95 million SOL to find, or about $2.9 billion, before signaling closes on Aug. 18.
Sixteen validators have signaled so far, data shows, or about 2.3% of the set. Infrastructure company Helius accounts for 16.03 million SOL of the running total on its own, close to two-thirds of everything gathered, with validator Blueshift next at 3.6 million and Temporal Emerald at 1.24 million before the list thins out.
As such, the burn increase is smaller than it sounds against what Solana issues. Even at the top of the projected range, 9,000 SOL per day is offset by roughly 60,000 SOL in daily inflation, so the fee change alone does not make SOL deflationary.
That is part of why the two proposals are clubbed together, with SIMD-0550 cutting issuance while SIMD-0553 raises what gets destroyed.
Meanwhile, Helius, which supplied 16.03 million SOL of the 24.94 million gathered, employs the engineer behind SIMD-0550.
But the 15% gate exists precisely to test this. Solana Foundation set it in July so the validator set would only vote on questions that actually matter, leaving routine technical work within the SIMD process.
Clearing it means several more operators of Helius's size have to decide emissions are worth their signal, and at the current pace with two weeks left, they have not.
1 SpaceX tops Wall Street revenue forecast, posts $540 million loss on bitcoin holdings 46 minutes ago 2 Open USD rattled Circle's stock, but its key backers still support USDC 3 hours ago 3 Samsung is poised to become a dominant stablecoin distributor, analysts say 3 hours ago 4 Clarity Act sits idle over Trump ethics question as Warren asks SEC to investigate him 4 hours ago 5 Wells Fargo joins JPMorgan and Citi in the race to tokenize Wall Street’s settlement rails 5 hours ago 6 Bitcoin’s $63,000 zone emerges as key battleground for buyers: Glassnode 6 hours ago 7 Polymarket targets $20 billion valuation as competition heats up in prediction market sector 6 hours ago 8 Intesa Sanpaolo slashed IBIT stake by 94% in 2Q, tripled ether ETF holding as crypto prices slumped 6 hours ago 9 Dinari brings tokenized U.S. stocks to American investors as equity race heats up 7 hours ago 10 As Clarity Act teeters, mystery group hammers away at crypto in Washington ads 8 hours ago Latest Research The Evolution of the Crypto CEX Landscape: A Case Study on Binance The Evolution of the Crypto CEX Landscape: A Case Study on Binance Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.
Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.
AIPROPX is an independent multi-source news index — we track, compare, and connect coverage from across the web into one place you won't find anywhere else.