Solana Inflation Cut Proposal Passes with 67% Support: Helius CEO Mert Mumtaz Lobbies in Final Stretch

In Solana's first binding on-chain governance vote, SGP-0002, a proposal aimed at accelerating the downward trajectory of SOL inflation, passed with 67% support. The proposal, driven by infrastructure provider Helius, plans to increase Solana's annual inflation reduction rate from 15% to 30%, accelerating the network's path to a 1.5% terminal inflation rate and reducing new SOL issuance over the medium to long term. Ahead of the voting deadline, support for the proposal had yet to reach the two-thirds quorum threshold. Helius CEO Mert Mumtaz reached out to major validators and institutions in the final stretch, with Kraken's validator node Kraken2 flipping its stance from opposition to support near the deadline. Ultimately, the proposal received 67% support, 25% opposition, and 7.84% abstentions, with a staking participation rate of 60.7%, meeting quorum requirements. Mert Mumtaz stated that after hundreds of communications, the proposal secured the critical votes and passed in the final stretch.