Solana has opened discussions on the new SIMD-0228 proposal, aiming to alter SOL token issuance based on market demand.
The Essence of Proposal SIMD-0228
The SIMD-0228 proposal, introduced by Multicoin Capital's Tushar Jain and Vishal Kankani, with backing from Anza's Max Resnick, proposes a shift from Solana's fixed release schedule. The system aims to adjust SOL emissions based on stakeholder involvement. More staking means lower emissions, and vice versa. The goal is to maintain network stability and significantly lower inflation from 4.5% to as low as 0.87%.
Community Support and Doubts
Solana co-founder Anatoly Yakovenko described the proposal as being very impactful. Solana Foundation's head of staking, Ben Hawkins, is in favor, noting a move towards a sustainable economic model. However, there are concerns about whether this might favor large stakeholders over smaller validators.
Impact on Solana and Future Steps
Although SIMD-0228 doesn't include token burning, it is expected to curb inflation by reducing the issuance of new tokens. The vote is scheduled to take place during epoch 753 starting March 6, perceived by many as a defining moment for Solana.
The discussions and voting on SIMD-0228 proposal showcase an exciting development in cryptocurrency, where balancing stakeholder interests remains key to success.
