
ⓧ Cyphereus Prime 🛞X1|Mar 13, 2025 17:49
Watching SIMD 228 vote is incredible. The proposal is to reduce SOL inflation, which is a good idea as it reduces at least 4B in SOL issuance per, stops dilution the supply and reduces sell pressure.
The problem is a lot of smaller validators will be forced to leave the network as their staking rewards likely going to be cut, making it too expensive to run their nodes. That’s the cohort that’s voting “No” as they don’t capture much of the transaction fees.
Large validators make majority of their revenue from the tx fee capture, the delegated stake enables them to be chosen as “leaders” or block proposers / producers more often. Those are the guys voting “Yes”.
If Yes/No ratio remains as it is now for the next few hours - the proposal won’t pass.
If anyone ever says Solana is centralized - here is the clear indication that network protocol changes can’t be forced without consensus of all participating parties.
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