Each proposal needs one-third of network stake to participate and two-thirds of participating stake to vote in favor. Abstentions count toward participation, meaning they help meet quorum but do not help a proposal reach the two-thirds approval threshold. All three votes have cleared quorum as of Friday, data from the governance page show.
What the proposals are
The so-termed constitution is passing easily. Solana Governance Proposal (SGP)-0001 sets the rules for how major network decisions are put to a vote, including who can participate, how votes are weighted and what support is needed to pass. It has 95.35% support with just 0.22% opposed.
SGP-0002 is over the line, though not by much. It would make Solana reduce the rate at which new $SOL is created by 30% each year instead of 15%. The proposal has 68.77% support with 47.72% participation.
That would bring the rate of new token creation down to its minimum of 1.5% a year around 2029 instead of 2032, resulting in roughly 18.9 million fewer $SOL being created over six years.
Read more: New Solana vote could ramp daily $SOL burns to $800,000 and slow new token creation
SGP-0003, which would change transaction fees and destroy far more $SOL, has 62.72% support, with 16.52% opposed and 20.75% abstaining. Participation stands at 42.51%, leaving it below the two-thirds support needed to pass.
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