Solana Proposal SIMD-0228 Voting Set to Begin in Epoch 753

The Solana community is focused on proposal SIMD-0228, which seeks to alter the inflation mechanism of the network. Key points include:

  • Concerns about potential impacts on decentralization versus arguments for more efficient market-based security.
  • Voting is scheduled to begin during Solana epoch 753 at approximately 8:30 PM ET.
  • Proponents argue Solana is overpaying for security, while opponents fear decreased issuance could centralize power.

Discussions also highlight SIMD-0096, which ceased burning half of Solana's priority fees in February. This has led to:

  • An increase in annualized inflation from 3.7% to 4.6% according to Blockworks Research.
  • Unexpected user behavior, as priority fees have remained stable despite a reduction in effective costs.
  • A shift towards MEV tips instead of priority fees, indicating changing revenue dynamics for validators.

Analysts suggest SIMD-0096 might help decrease the number of transaction processing units (TPUs) on the network, reducing complexity and overhead costs.