Solana's historical governance proposal has been approved, and the SOL issuance rate will be halved

Solana Network has completed its first legally binding on-chain governance vote, successfully passing the proposal to accelerate deflation (SGP-0002). This proposal doubles the annual rate at which the supply of SOL is reduced, increasing it from 15% to 30%. As a result, the projected date for reaching the minimum issuance rate of 1.5% has been moved forward from 2032 to 2029. It is estimated that approximately 18.9 million additional SOL will be prevented from being issued over the next six years. The voting concluded in a nail-biting finish. The final approval rate reached 67.0%, narrowly exceeding the required threshold of 66.67%. Kraken, with its significant voting power of 8.92 million SOL, continued to cast dissenting votes until the very last moment, when it changed its position. Galaxy also switched from abstaining to voting in favor. Arjun Sethi, co-CEO of Kraken