Solana's first binding governance vote is splitting the community as founder Anatoly Yakovenko urges smaller proposals, while Charles Schwab prepares to list SOL.
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Solana fee vote trails two-thirds as Schwab adds SOL trading
Solana's first binding governance vote is splitting the community as founder Anatoly Yakovenko urges smaller proposals, while Charles Schwab prepares to list SOL.
SOL held above $109 Friday, up about 50% this month, as validators cast the chain's first binding governance vote on emission cuts and fee burns.
Anatoly Yakovenko, Solana's co-founder, said the network should separate its fee reforms into smaller proposals, a stance that has divided supporters as the vote approaches its deadline.
Three proposals are on the ballot. SGP-0001, which would ratify a Solana Constitution, leads with 95.33% support. SGP-0002, which doubles the annual disinflation rate from 15% to 30%, has 68.63% support — above the two-thirds bar. SGP-0003, which would lift daily SOL burns more than tenfold, trails at 62.63% with abstentions at 20.74%.
The vote closes at epoch 1023, expected around 15:30 UTC on Aug. 27. A clean pass on SGP-0002 would strip roughly 18.9 million SOL from future emissions, worth an estimated $1.4 billion to $1.5 billion based on 21Shares' modeling, while SGP-0003 could push daily burns from about 650 SOL to between 7,500 and 9,000 SOL.
Governance vote splits validators and institutions
The vote requires at least a third of all staked SOL to participate, with two-thirds of participating stake needing to say yes. Abstentions count against proposals. All three have cleared quorum.
SGP-0002 was written by Helius engineers Lostin and 0xIchigo. It would accelerate Solana's descent to its 1.5% terminal inflation floor, reaching it in 2029 instead of 2032. Under the authors' 68% staking-participation scenario, staking yield starts at 5.84% but falls to 4.34% after a year, 3% after two, and 2.25% after three.
SGP-0003, tied to SIMD-0553 from Temporal's cavemanloverboy, would split Solana's flat per-signature charge into a fixed inclusion fee of 2,500 lamports paid to the block leader and a resource fee proportional to compute that gets burned. At current prices, daily burns of 7,500 to 9,000 SOL would range from about $47,000 to as much as $650,000 a day. Inflation still creates about 64,000 SOL daily, so even at 9,000 SOL, the burn offsets about 14% of new supply.
The Nasdaq-listed Solana Company endorses the governance framework but votes against both economic proposals, citing timing rather than goals. DeFi Development Corp., which trades on Nasdaq as DFDV and holds SOL as its main reserve, said on Aug. 4 it supports both changes and would vote yes.
Schwab listing adds institutional layer
Charles Schwab is preparing to offer SOL trading alongside AVAX and LINK, giving mainstream investors direct access to the token through one of the largest US brokerages. The listing follows a month of record network activity — Solana set a record for the most non-voting transactions in a week with over 1.3 billion, driven by 2.6 million daily active users and a resurgence in meme-token trading through the FOMO app and Pump.fun. The heightened activity pushed Solana's daily burn rate to 1.53% as of Aug. 23, the highest since early 2025.
The governance outcome and Schwab listing together frame Solana's near-term trajectory. A clean pass on SGP-0002 plus confirmed burn increases could push SOL toward prior highs, while failed votes or delayed implementation could send it back toward the mid-$90s. The March 2025 proposal to cut inflation by 80% failed with 61.39% support, below the two-thirds hurdle — a reminder that governance outcomes on Solana are never guaranteed.
This article is for informational purposes only and does not constitute investment advice.
