Solana Increases Daily Burn Amount to a Maximum of 9,000 SOL, Validator Support at 5.8%

A governance proposal to increase Solana's (SOL) daily burn amount from approximately 650 SOL to a maximum of 9,000 SOL has entered the stage of securing validator support. As a result, the burn amount could increase from $47,000 to $650,000, approximately 14 times. The governance proposal SGP-0003 includes SIMD-0553 and SIMD-0550, with SIMD being documents that address protocol changes. SIMD-0553 introduces resource-based fees, where the base fee is 5,000 lamports per transaction signature, with half being burned and half paid to validators. In the new structure, the base included fee of 2,500 lamports is paid to validators, and the resource fee is fully burned. SIMD-0550 proposes to increase the annual disinflation rate from 15% to 30%. For SGP-0003 to move to the actual voting stage, it needs to secure 15% validator support by August 18, and the current support amount is 24.94 million SOL, which corresponds to 5.8% of the total staking amount. Helios has provided the most support with 16.03 million SOL, while Blueshift and Temporal Emerald have recorded 3.6 million SOL and 1.24 million SOL, respectively. Even if the proposal passes, SOL will not immediately convert into a deflationary asset, and even if the daily burn amount reaches a maximum of 9,000 SOL, it will still fall short of the daily inflation of approximately 60,000 SOL.