Solana社區投票將令牌通貨膨脹率降低80％，轉變為動態通貨膨脹模型

這獲得了35.7％的認可和17.2％的反對派。如果強制執行，它將從4.5％降低到約0.87％。

The Solana community is voting on proposal SIMD-228, which proposes cutting token inflation considerably. This has seen 35.7% endorsement and 17.2% opposition. It will cut inflation from 4.5% to about 0.87% if enforced. However, concerns have emerged about the implication for staking rewards and network decentralization, making the decision highly complex.

Solana社區正在對提案Simd-228進行投票，該提案建議大量削減令牌通貨膨脹。這有35.7％的認可和17.2％的反對意見。如果強制執行，它將從4.5％降低到約0.87％。但是，人們對積分獎勵和網絡分散化的影響引起了人們的關注，這使該決定高度複雜。

Proposal Overview and Initial Support

提案概述和初始支持

At the beginning of March, Solana (SOL) validators began voting on proposal SIMD-228, suggesting a major monetary policy adjustment. This proposal suggests shifting from a fixed inflation to a dynamic one based on stakeholder participation. It aims to adjust token supply more efficiently by linking inflation to the staking percentage.

3月初，Solana（Sol）驗證者開始對提案SIMD-228進行投票，這表明了重大的貨幣政策調整。該提案表明，基於利益相關者的參與，從固定的通貨膨脹轉移到動態通貨膨脹。它的目的是通過將通貨膨脹與放電百分比聯繫起來，從而更有效地調整令牌供應。

The proposal intends to enhance Solana’s flexibility in adjusting token supply. It suggests tying inflation to the percentage of tokens staked by validators. By doing so, it aims to create a more efficient mechanism for controlling inflation. At the same time, it maintains a balance between token issuance and network participation.

該提案旨在提高Solana在調整令牌供應方面的靈活性。它表明將通貨膨脹與驗證者固定的令牌的百分比聯繫在一起。通過這樣做，它旨在創建一種更有效的控制通貨膨脹的機制。同時，它在代幣發行和網絡參與之間保持平衡。

However, the Solana Inflation Cut proposal has seen mixed reactions. Out of 1,327 active validators, 701 have voted, with 35.7% supporting the proposal and 17.2% opposing it. Meanwhile, 1.2% abstained from voting.

但是，抗解削減提案的反應混合了反應。在1,327名活躍驗證者中，有701個投票，有35.7％的人支持該提案，有17.2％的人反對該提案。同時，1.2％的投票棄權。

If passed, the proposal will cut inflation by 80%, which currently stands at 4.5% to about 0.87%. But the proposal needs more backing to be implemented successfully.

如果通過，該提案將使通貨膨脹率將80％削減，目前為4.5％至約0.87％。但是該提案需要更多的支持才能成功實施。

Potential Impacts on Validators and Decentralization

對驗證者和權力下放的潛在影響

One of the main concerns is the implication of the Solana Inflation Cut proposal for staking rewards. When inflation declines, staking rewards will decline proportionally and may even discourage validators from being in the network. This can be particularly undesirable for small validators, as they count on staking incentives to break even.

主要問題之一是索拉納通貨膨脹提案的含義是獎勵。當通貨膨脹率下降時，積分獎勵將按比例下降，甚至可能阻止驗證者進入網絡。對於小型驗證者來說，這可能是不希望的，因為它們依靠積分激勵措施打破。

Currently, Solana’s economic model balances token issuance with transaction fee burning. During periods of high network activity, more fees are burned, helping counter inflation. However, with decreased transaction costs, fewer tokens are removed from circulation. The existing system has maintained stability.

目前，Solana的經濟模型將令牌發行與交易費用燃燒之間。在高網絡活動期間，燃燒更多的費用，有助於抵抗通貨膨脹。但是，隨著交易成本降低，從循環中刪除了更少的令牌。現有系統保持穩定性。

But the Solana Inflation Cut proposal could upset this balance, especially if transaction activity remains low after transaction fee costs are reduced. This could lead to an imbalance in token issuance and burning, impacting the value of SOL.

但是，索拉納通貨膨脹提案可能會破壞這一平衡，尤其是當交易活動降低後交易活動降低時。這可能會導致令牌發行和燃燒的不平衡，從而影響SOL的價值。

Market Effects and Future Perspectives

市場影響和未來觀點

The approval of SIMD-228 could reduce supply pressure and potentially increase the value of SOL. A lower inflation rate means fewer new SOL tokens enter circulation, which could help stabilize prices. However, the impact of the stake reward might discourage participation, leading to weaker network security.

SIMD-228的批准可以降低供應壓力並可能增加SOL的價值。較低的通貨膨脹率意味著更少的新Sol代幣進入流通，這可以幫助穩定價格。但是，利益獎勵的影響可能會阻止參與，從而導致網絡安全較弱。

Moreover, the market rebound will rely not just on supply-side readjustment but also on-demand expansion. As transaction activity determines the amount of fees burned, it ultimately influences the pace of token inflation.

此外，市場反彈將不僅依賴供應端的重新調整，還將依賴按需擴展。由於交易活動決定了燃燒的費用，因此最終會影響令牌通貨膨脹的速度。

On March 13, SOL is down to $126, far below its January high of $293. Even the decentralized finance (DeFi) value locked in the network has dropped from its all-time high of $12 billion in January to $7 billion.

3月13日，SOL降至126美元，遠低於其1月份高點293美元。即使是鎖定在網絡中的分散融資（DEFI）的價值也從1月份的120億美元下降到70億美元。

These trends show that though the Solana Inflation Cut proposal can help with the reduction of supply, it won’t be enough to trigger price recovery unless there is a pickup in usage in the network.

這些趨勢表明，儘管Solana通貨膨脹提案可以有助於減少供應，但除非網絡中的使用情況有拾取，否則它不足以觸發價格恢復。

Development and Future Perspectives

發展和未來觀點

Solana developers considered several alternatives before settling on the proposed approach, such as adjusting inflation in fixed-rate increments. However, the chosen method offers more flexibility by dynamically adjusting inflation based on staking participation. This method could help maintain economic stability while allowing Solana to adapt to changing market conditions.

索拉納開發人員在解決提出的方法之前考慮了幾種替代方案，例如以固定利率增量調整通貨膨脹。但是，選擇的方法通過基於積分參與動態調整通貨膨脹來提供更大的靈活性。這種方法可以幫助維持經濟穩定，同時使Solana適應不斷變化的市場狀況。

Despite its advantages, the proposal’s impact on network decentralization concerns remains a key issue. If it is difficult for smaller validators to remain profitable, the validator set for the network might decrease, decreasing decentralization.

儘管具有優勢，但該提案對網絡權力下放問題的影響仍然是一個關鍵問題。如果較小的驗證者很難保持盈利，則可以減少網絡的驗證器設置，從而減少分散式化。

This is a crucial aspect to monitor as the Solana Inflation Cut proposal is put to a vote. The outcome will be interesting to observe, especially considering the varying opinions among community members.

這是監視的關鍵方面，因為索拉納通貨膨脹提案進行了投票。觀察結果將很有趣，尤其是考慮到社區成員之間的不同意見。