Solana Community Approves SIMD-0096 Proposal with 77% Vote for Full Priority Fees Allocation

May 28, 2024, 03:38 AM

The Solana community has voted on a significant proposal, known as SIMD-0096, which reallocates 100% of transaction priority fees to validators. This marks a departure from the previous system where fees were split 50/50 between burning and rewarding validators. The vote concluded with 77% of participants in favor of the change, after a voting period of two days. The decision is seen as potentially increasing the inflation rate of SOL, which has raised concerns among critics about its long-term impact on the network.