Solana Governance Passes Disinflation Proposal, Lower Bound Reached by 2029

The approval marks a decisive shift in Solana's monetary policy, signaling validator consensus on tighter supply dynamics earlier than originally scheduled. The sharp reduction in staking yields, from over 5% to just above 2% within three years, is the immediate consequence for active stakers, potentially altering participation incentives and network security economics. With the constitution passing alongside, governance legitimacy is strengthened, but the rejection of SGP-0003 underscores limits to consensus. The open question is whether lower issuance and reduced rewards will impact validator decentralization or staking participation in the medium term, as the network adjusts to a lower-emission regime.