The Solana ecosystem just completed a critical governance vote. SIMD-228, a proposal to tie Solana’s inflation rate to its staking participation rate, was put forward by Multicoin Capital and Anza, but despite a majority voting in favor, it failed to meet the required supermajority to pass.
Tushar Jain, co-founder and managing partner at Multicoin Capital, who co-authored the proposal, joins the show to discuss:
Why he believes the proposal was necessary
Whether inflation is too high for Solana’s long-term health
If some validators voted against their own interests
The silver lining of the governance process
Why a smaller proposal focused on fee sharing did pass
Whether Multicoin Capital will resubmit a revised proposal
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Mantle
Guest
Tushar Jain, Co-founder and Managing Partner at Multicoin Capital
Links
Unchained: Proposal to Cut SOL Inflation by 80% Fails After ‘Close Call’
SIMD Vote Status
Kayuza’s tweet
Timestamps:
🤝 0:00 Intro
🗳️ 3:09 Why Solana’s inflation rate was initially an afterthought
💰5:20 Why inflation became untenable
⚙️ 6:23 What does it take to right-size inflation for Solana
⚙️ 7:18 How SIMD-228 would have worked
🤯 11:00 Why Tushar “does not want to bet on people being dumb”
💰 15:48 How this could have strengthened DeFi on Solana
😕 17:49 Why Tushar was disappointed with the outcome but sees a silver lining
📚 19:49 Could the vote have been fairer?
⚖️ 22:06 Whether smaller validators would be unfairly hurt by SIMD-228
🔐 27:37 Does Solana pay too much for security?
📈 27:55 Would this have boosted the price of SOL?
✔️28:19 Whether validators should ask stakers how to vote
✅ 30:13 What the passing of SIMD-123 means for the network
🔄 32:40 Will Multicoin resubmit the proposal?
📰 34:50 News Recap
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