Solana社區審查治理提案SIMD-0228，旨在將網絡的代幣通貨膨脹率急劇降低80％

Solana區塊鏈社區正在審查一項治理提案SIMD-0228，該提案旨在將網絡的通貨膨脹率急劇降低80％。

Multicoin Capital partners Tushar Jain and Vishal Kankani, together with Anza’s Lead Economist Max Resnick, have authored a Solana governance proposal, SIMD-0228, to drastically cut the network’s token inflation. The proposal aims to transition Solana’s fixed token issuance model to a dynamic, market-driven system, with voting scheduled to commence on March 6, 2025, during epoch 753.

Multicoin Capital Partners Tushar Jain和Vishal Kankani以及Anza的首席經濟學家Max Resnick撰寫了Solana治理提案Simd-0228，以大幅度削減網絡的代幣通貨膨脹。該提案旨在將Solana的固定令牌發行模型轉換為動態，市場驅動的系統，併計劃於2025年3月6日在753時期開始投票。

Solana currently operates under a predetermined inflation schedule, starting with an 8% annual inflation rate that decreases by 15% each year, targeting a long-term rate of 1.5%. However, this fixed model has been subject to criticism for potentially overcompensating validators and stakers, leading to unnecessary token emissions that may exert downward pressure on SOL’s market value.

Solana目前在預定的通貨膨脹時間表下運行，從每年8％的通貨膨脹率開始，每年降低15％，目標是長期1.5％。但是，這種固定模型因可能過度補償驗證者和公司的批評而受到批評，導致不必要的令牌排放可能會對SOL的市場價值施加下降壓力。

Additionally, the existing structure could inadvertently discourage participation in decentralized finance (DeFi) activities, as high staking rewards may incentivize token holders to lock up their assets rather than engage with the broader ecosystem.

此外，現有的結構可能會無意間勸阻分散的金融活動（DEFI）活動，因為高積分獎勵可能會激勵令牌持有者鎖定其資產，而不是與更廣泛的生態系統互動。

To mitigate these issues and foster a more balanced economic landscape, SIMD-0228 proposes a variable-rate emission system that adjusts based on the network’s staking participation. The core idea is to align token issuance with the proportion of SOL tokens actively staked.

為了減輕這些問題並促進更平衡的經濟格局，SIMD-0228提出了一個可變速率排放系統，該系統根據網絡的積分參與來調整。核心思想是將令牌發行與積極放置的SOL令牌的比例保持一致。

If the staking participation rate is above a specified threshold (initially proposed at 50%, later adjusted to 33%), the annual inflation rate will decrease. For instance, if the goal is to reduce the MSI (annual inflation) from the current 4.5% to 0.87%, and the desired reduction in MSI is 100%, then the required change in the variable payout will be around -0.65. This will be achieved by decreasing the variable payout from the current 0.28 to -0.37, and adjusting the MSI accordingly.

如果組存參與率高於指定的閾值（最初提出的以50％的速度，後來調整為33％），則年通貨膨脹率將降低。例如，如果目標是將MSI（年度通貨膨脹）從當前的4.5％降低到0.87％，並且MSI所需的減少為100％，則可變支付的所需更改約為-0.65。這將通過將變量支付的額從當前0.28降低到-0.37，並相應地調整MSI來實現。

Conversely, if the staking participation rate falls below the threshold, the emission rate will increase to incentivize more staking, ultimately enhancing network security and decentralization.

相反，如果積分參與率低於閾值，則排放率將提高以激勵更多的佔有性，最終增強網絡安全和權力下放。

This adaptive approach balances the dual objectives of maintaining robust network security through sufficient staking participation and fostering a healthy, inflation-controlled economic environment. The goal is to achieve a sustainable economic framework that supports long-term value creation for all stakeholders.

這種自適應方法可以平衡通過足夠的積分參與並培養健康，通貨膨脹控制的經濟環境來維持強大網絡安全的雙重目標。目的是實現一個可持續的經濟框架，以支持所有利益相關者的長期價值創造。

This proposal has sparked significant discussion within the Solana community. Co-founder Anatoly Yakovenko is among the proponents, highlighting the need for a pragmatic solution to correct existing inefficiencies and reduce inflation and selling pressure, ultimately promoting a more sustainable economic framework for the network.

該提議在索拉納社區中引發了重大討論。聯合創始人Anatoly Yakovenko是支持者之一，強調需要實用解決方案來糾正現有效率低下並減少通貨膨脹和銷售壓力，最終促進了該網絡更可持續的經濟框架。

However, concerns have been raised regarding the potential impact on smaller validators and network decentralization. Critics suggest that smaller validators will be disproportionately affected by the reduced staking rewards, potentially leading to a concentration of power among larger entities and undermining the network’s decentralized ethos.

但是，人們對對較小驗證者和網絡分散化的潛在影響提出了擔憂。批評家認為，較小的驗證者將受到減少的股票獎勵的不成比例影響，這可能導致較大實體之間的力量集中並破壞網絡的分散精神。

Moreover, there is apprehension that increasing inflation rates during periods of low staking participation could erode market confidence, triggering a negative feedback loop of token sell-offs and further declining staking participation.

此外，人們擔心，在較低的參與期間，通貨膨脹率提高可能會侵蝕市場的信心，從而引發代幣拋售的負面反饋循環，並進一步下降了積分參與。

As the voting period approaches, stakeholders are urged to join the ongoing conversations, carefully consider the proposal’s potential effects, and cast their votes to help decide the economic future of the Solana network.

隨著投票期的臨近，敦促利益相關者加入正在進行的對話，仔細考慮提案的潛在影響，並進行投票，以幫助決定Solana網絡的經濟未來。