Solana’s SIMD-0228 Falls Short

SIMD-0228, which proposed shifting Solana’s emissions from a fixed model to a market-driven system, has failed. Of 910 validators voting (74% of staked votes), only 58% supported the proposal—falling short of the required two-thirds majority. The proposal could have cut Solana’s 4.6% inflation rate below 1%, increasing SOL scarcity while freeing liquidity for DeFi. However, lower staking yields (from 8% to a projected 1.34%) raised concerns about decentralization, particularly for smaller validators. Notably, larger validators (500K+ votes) were more supportive (60% Yes) than smaller ones (30% Yes), highlighting a divide in incentives across the network.