Solana News: SIMD-228 Proposal to Reduce SOL Inflation Falls Short of Approval

In a significant turn of events for the Solana network, a governance vote aimed at drastically reducing the inflation rate of its native SOL token has failed to gain the necessary approval.

Solana’s SIMD-228 Proposal to Reduce SOL Inflation Fails to Gain Approval

A proposal to reduce the SOL inflation rate by 80% failed to meet the required vote threshold for approval. Despite a record 74% turnout, only 61.39% of voters supported the SIMD-228 governance vote, falling short of the 66.67% needed. The voting revealed a split among network members, with smaller validators tending to vote against the proposal while those with larger stakes overwhelmingly supported it. This was the biggest crypto governance vote ever in terms of both market value and participation.

Solana Governance Vote Sets Record as Inflation Proposal Fails

Solana’s SIMD-228 proposal saw unprecedented participation with 74% of staked supply voting across 910 validators. The proposal, aiming to introduce a dynamic inflation model, failed with 61.4% approval, short of the required 66.67%. Despite the rejection, the event was hailed as the largest governance vote in crypto history, reinforcing Solana’s decentralized decision-making strength. Multicoin Capital’s co-founder, Tushar Jain, framed the outcome as evidence of Solana’s governing clout.

SOL Price Prediction: Analysts Forecast a 40x Explosion!

Solana is attracting attention as predictions of a major price jump circulate. Some experts suggest it could climb to $300 during the next market rebound, with analysts forecasting a possible 40-fold increase. This raises questions about what could propel Solana to such heights and whether this surge is imminent.

DWF Report: Insider Trading Behind LIBRA Coin’s $1.16B Rise and Fall

A meme token on Solana, Libra (LIBRA), skyrocketed to a market cap of $1.16 billion within its first hour but lost over 95% of its value shortly after. The collapse erased more than $280 million from approximately 75,000 traders, raising questions about insider trading and market manipulation. The incident, known as ’Cryptogate,’ involved Argentinian President Javier Milei and Web3 investment firm Kelsier Ventures. A new report by DWF Labs sheds light on the launch and collapse of $LIBRA.