Why One Solana Validator Voted Against Growing Priority Charges

Solana validators will get additional charges following a proposal passed with 78% support on Monday. The writer and supporters express it will secure the integrity from the network, only one validator states this is an incomplete solution.

The SIMD-0096 proposal is really a shift from the old model that accustomed to burn 1 / 2 of the not compulsory priority fee that users could pay to hurry up their transactions on Solana. Now 100% of this fee is going to be rewarded to validators.

“We voted no,” a spokesperson from Solana validator Orangefin Ventures told Decrypt. “The reason we voted no was because we would like SIMD-0096 to day SIMD-0123 to ensure that validators could distribute the priority charges to stakers in-protocol.”

SIMD-0123 allows validators to simply distribute the charges collected from priority charges to individuals who delegated their staked SOL for them. Without passing SIMD-0123 together with SIMD-0096, validators will need to by hand reward stakers using methods like airdrops—adding more labor than needed, the spokesperson stated.

But Tao Gemstones, the proposal creator, claimed the old model “does not fully align with validator incentives and unintentionally encourages side deals.”

Based on CoinGecko, Solana’s cost has elevated 2% to $169.29 in the last 24 hrs within the wake from the proposal approval. Previously 24 hrs, users have spent $1.9 million on Solana charges, based on DeFi Llama.

“This helps to ensure that validators are appropriately incentivized you prioritized network security and efficiency, instead of being incentivized to take part in potentially harmful side deals,” Tao Gemstones described within the proposal.

The election concluded with more than 1 / 2 of the stake participating, passing with 77.77% voting for YES. The proposal has been apply.

As the lately passed proposal could see a rise in to safeguard the layer-1 blockchain, some have elevated concerns this increases inflation because of 50% of charges no more being burned.

“Not basically stealing a deflation aspect people bought into Solana for, every user are affected with greater inflation,” Solana forum user, FreedomFighter, stated around the proposal. “[It] does not matter just how much you undermine the amounts, still it remains a well known fact.”

However, individuals who voted for that proposal appear to think that removing this burn function won’t “significantly impact inflation figures,” as user Denysk stated. Many of the the situation like a burn mechanism continuously exists for “normal” network charges, because of SIMD-0096 only signing up to priority charges.

Edited by Stacy Elliott.