Solana proposal passes with Kraken’s last-minute vote flip

Solana’s first binding on-chain governance vote nearly ended in chaos when Kraken, one of the network’s largest validators, flipped its position on a critical inflation proposal just hours before the deadline. The exchange’s late “no” vote on SGP-0002, which proposed doubling Solana’s disinflation rate, dragged approval from roughly 68.77% down to around 65%, briefly putting it below the two-thirds supermajority required to pass. Then something shifted. By the time epoch 1024 closed on August 28, SGP-0002 had clawed back to approximately 66% approval, just barely clearing the threshold. The proposal will now accelerate Solana’s path to its 1.5% terminal inflation floor by three years, moving the target date from 2032 to 2029. Three proposals, three very different outcomes The vote bundled three Solana Governance Proposals into what amounted to the network’s constitutional convention. SGP-0001 asked validators to ratify the Solana Constitution itself, essentially the rulebook for how future governance would work. It passed with about 95% approval. SGP-0002 was the contentious one. It proposed increasing the disinflation rate from 15% to 30%, meaning the rate at which new SOL enters ...