Solana Company Opposes Faster Disinflation, Cites Staking

Solana Company on Aug. 21 announced it will oppose SGP-0002, a governance proposal to accelerate the network’s disinflation schedule. The firm reported $2.512 million of $2.526 million in revenue for the quarter ended June 30 came from staking, or 99.4%.

SGP-0002 would raise the annual disinflation rate from 15% to 30% while leaving the protocol’s 1.5% terminal inflation unchanged. A model tied to the proposal estimates about 18.89 million fewer SOL issued over six years under the faster schedule. Using a 68% staking-participation assumption, nominal staking yield in the model falls from 5.84% on the current path to 4.34% in year one, then to about 3.00% and 2.25% in years two and three. The model excludes validator commissions, MEV and block reward variations.

Under Solana’s governance design, delegated stake follows a validator’s default vote unless the delegator overrides it for an individual stake account. The public voting table showed a live tally on Aug. 23 of roughly 5.27 million SOL For, 547,019 SOL Against and zero Abstain across 24 votes; at that snapshot For represented about 90.6% of decisive stake. Decoded ballots at that timestamp did not show a vote attributable to Solana Company or its validator, so the firm’s announcement establishes intent rather than a recorded ballot tied to a named address.

The company’s regulatory filing classified $2.512 million as GAAP staking revenue tied to company-held SOL for Q2 and noted that 31,200 SOL earned as quarterly staking rewards were automatically restaked. The same filing reported a $32.7 million operating loss and a $30.3 million net loss for the quarter, which included $25.4 million of realized digital-asset losses. The filing also said the company’s validator cluster launched in July and that roughly 500,000 SOL had been delegated to that new cluster by the filing date.

A native staker can override a validator’s default vote before the validator votes, after it votes, or if the validator abstains. The ledger recorded an override on Aug. 23 directing 15.585838993 SOL For SGP-0002, showing the override mechanism is functioning for at least one stake account.

If accepted, SGP-0002 would record a directional mandate in the governance repository. Implementation and activation would require further technical work through Solana Improvement Documents and other development steps, so an Accepted vote would not immediately change token issuance.

Solana’s governance materials present an inconsistency on voting thresholds. The proposal repository states there is no quorum and approval requires For stake to equal at least two-thirds of For plus Against, while the governance FAQ and dashboard display a one-third participation requirement alongside a two-thirds approval threshold. Current finalization code locks and records totals after the end epoch without resolving that policy conflict. Voting runs through epoch 1023 and closes at the epoch-1024 boundary, with developers estimating that boundary at approximately 15:30 UTC on the scheduled day.

In its announcement, the company said predictable inflation and staking yield help institutions model returns and adopt SOL, and added that “holders could override an operator,” noting the disclosure was intended to let delegators act if they choose.