Solana Community Approves SIMD-0096 with 77% Vote to Allocate 100% of Priority Fees to Validators

May 27, 2024, 06:28 PM

The Solana community has concluded a crucial vote on the allocation of priority fees. The proposal, known as SIMD-0096, aimed to change the current system where 50% of priority fees are burned and 50% are rewarded to validators. With 77% of the votes in favor, the community has decided to allocate 100% of priority fees to validators. This change is set to take effect immediately, marking a significant shift in the Solana network's fee distribution policy. This decision is not great news for retail investors, who may be impacted by the new allocation of $SOL.