Solana News: Proposal to Slash Inflation by 80% Sparks Mixed Reactions

Solana, a prominent cryptocurrency, has recently unveiled a proposal aimed at drastically reducing its token inflation. Here’s what you need to know about this potential game-changer.

Solana Proposal Aims to Slash Inflation by 80%

Solana (SOL), a top cryptocurrency, has proposed a new plan to drastically reduce its token inflation by up to 80%. The SIMD-0228 proposal aims to peg the issuance rate of Solana tokens to staking participation, reducing the amount of new tokens entering circulation each year. The move has sparked mixed reactions from the Solana community, with some concerned about its potential impact on staking rewards and the broader market. Ryan Watkins, a crypto VC partner at Syncracy Capital, strongly supports the proposal.

Solaxy Nears $24M in Presale for Solana L2 – Best Crypto to Buy During the Dip?

The crypto market is experiencing a dip, but Solaxy, a project aiming to create an L2 scaling solution for Solana, has raised over $23 million in its presale. Solaxy aims to overcome Solana’s issues of network congestion and transaction failures, catering to meme coin investors and those seeking strong utility.

Pump Fun Activity on Solana Declines as Memecoin Mania Cools Off

Pump Fun activity on Solana has seen a significant decline, indicating that the memecoin mania may be over. On-chain analyst Darky noted that the number of Pump Fun coins bonding has reached NEAR zero. Nooman.eth, General Partner of 227Fund, detailed a drop in graduating token numbers and daily token launches, with overall weekly trading volume now matching levels last seen in September 2024.

First Set Of Solana Futures ETFs Listed On DTCC

The Depository Trust & Clearing Corporation (DTCC), the largest settlement and clearinghouse in the U.S., has listed two proposed Solana futures exchange-traded funds (ETFs). This marks the first SOL-based investment products to be added to DTCC’s list of funds. The Volatility Shares 2x Solana ETF and the Volatility Shares Solana ETF appeared on DTCC’s list on Wednesday under the ticker SOLT and SOLZ, respectively. Last December, Volatility Shares filed for three new ETFs that would give investors exposure to Solana futures contracts with 1x, 2x, and -1x leverage options. However, the -1x Solana ETF, which would offer inverse exposure, was not listed on DTCC.