Solana co-founder Anatoly Yakovenko has expressed his opinion after the rejection of a key proposal to change Solana's tokenomics. Despite disappointment from some community members, Yakovenko views it as an advantage of quick and effective governance.
SIMD-0228 Proposal and Yakovenko's Reaction
The SIMD-0228 proposal aimed to introduce a new inflation model for Solana. However, it was rejected due to concerns about over-centralization of the network. Yakovenko sees the failed vote as a positive sign, emphasizing that operational speed is more important than approving every proposal. Over 74% of validators participated in the vote, including support from major players like VanEck.
Growing Market Pressures on Solana
The rejection of the SIMD-0228 proposal has increased uncertainty in Solana's ecosystem. Recent events with FTX and Alameda Research are adding pressure to the network. A decline in trading volumes on Solana's decentralized exchanges has also raised concerns about asset price movement. Despite these challenges, many traders still believe in SOL's growth potential.
Is a $4,000 SOL Possible?
Some analysts predict Solana could follow the 2021 price pattern and reach $4,000, despite overall market struggles. Optimistic investors point to the growing number of projects on the network and strong on-chain activity as a growth catalyst. In the short term, traders hope SOL could reach $200 by the end of March, although concerned about a potential price drop. According to CoinMarketCap data, Solana is trading at $128.79 at the time of writing, down 4.04% in the last 24 hours.
Time will tell if Solana's quick decision-making process brings long-term benefits. While its governance shows agility, only the future will reveal if this is in the network's best interest.
