Solana’s fee revenue denominated in SOL reached a seven-day average of nearly 9,200 SOL on Aug. 27, up more than 80% from three months earlier, according to ChainCatcher. Non-vote transactions also hit a fresh seven-day high of 191 million, compared with 88 million a year ago, while daily Jito validator tips averaged 2,073 SOL over the past week, up 26% week over week. At the same time, the SGP-0002 “double deflation” proposal passed last Friday with just over 67% support, above the 66.67% threshold. Voter participation reached 60.7% across 1,326 validators, setting a record for on-chain governance participation on Solana. The proposal doubles the annual deflation rate from 15% to 30% and is expected to remove about 18.9 million SOL from planned issuance over six years. That would cut the amount of new SOL entering the market each year and reduce validator income for the same amount of work. Staking rewards are projected to fall from about 5.25% to 2.25% in the third year, putting pressure on validators that rely more on inflation income than transaction fees.
Solana’s fee revenue measured in SOL reached a seven-day average of nearly 9,200 SOL on Aug. 27, more than 80% higher than three months earlier, according to ChainCatcher.
Non-vote transaction volume also set a new seven-day high at 191 million transactions, up from 88 million a year earlier. Over the past week, daily Jito validator tips averaged 2,073 SOL, a 26% increase from the previous week, reflecting higher on-chain activity.
SGP-0002 passes with more than 67% support
At the same time, the SGP-0002 “double deflation” proposal passed last Friday with slightly more than 67% support, above the required 66.67% threshold. Participation reached 60.7% and covered 1,326 validators, marking a record high for on-chain governance participation on Solana.
Under the proposal, the annual deflation rate will double from 15% to 30%. It is expected to remove about 18.9 million SOL from planned issuance over six years. That means less new SOL will enter the market each year, while validator earnings for the same workload will decline.
Validator income faces pressure
Staking rewards are expected to fall from about 5.25% to 2.25% in the third year. That will pressure validators that depend on inflation-based income rather than transaction fees, and many may fall into losses within three years.
The effect is expected to fall mainly on smaller independent operators. Ordinary users are not expected to see obvious changes in Solana network speed or fees.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
