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Solana Validators Approve SIMD-0096, Allocating 100% of Priority Fees

May 28, 2024, 06:13 AM

Solana validators have approved the SIMD-0096 governance proposal, which reallocates 100% of priority fees to validators, ending the previous 50/50 burn split. The vote concluded at the end of epoch 620 with 51.1% of stake participating and the proposal passing with 77.7% of the votes in favor, surpassing the required 66.66% threshold. Critics argue that removing the burn mechanism could increase SOL’s inflation rate and negatively impact the network. JupSOL now earns 50% of priority fees generated by the Jupiter Validator, with an additional 400 SOL distributed over the weekend. The decision has sparked debate over whether it was driven by the broader Solana community or by validator whales.