Solana Governance Votes Could Lift Daily SOL Burns to as Much as $800,000

Solana validators on Sunday opened voting on three governance proposals, with the ballot scheduled to run through Thursday around 15:30 UTC. Voting power is based on the amount of SOL staked, giving influence to validators that operate the network as well as token holders who delegate their SOL to those validators. Two of the proposals focus on token supply. SGP0002 would accelerate Solana's issuance taper by doubling the network's annual reduction in new SOL from 15% to 30%, bringing issuance to its floor sooner. SGP0003 would overhaul transaction fees by splitting them into two components: a fixed amount paid to the block producer and a separate amount, scaled to the transaction's compute demand, that would be permanently burned. CoinDesk reported earlier this month that SGP0003 could raise daily burns from roughly 650 SOL to 7,500–9,000 SOL. At Monday's price, that translates to about $61,000 versus as much as $846,000 per day. Investors are watching the proposals because they would reduce net supply through lower issuance and higher burns, even though they do not address demand. The third proposal, SGP0001, does not alter supply. It would ratify a governance framework dubbed the Solana Constitution, outlining decision-making processes and enabling the software used to conduct votes. Until now, major network changes have largely been agreed through informal coordination among developers and the largest operators. All three proposals are being voted on at the same time, creating an unusual sequencing issue: SGP0001 would formally establish the voting system, yet SGP0002 and SGP0003 are already being decided through that system, with results expected before the rules governing the process are formally approved. SOL traded above $96 early Monday, up 1.6% over the past 24 hours and 28% over the past week.