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New Solana Proposal Aims to Boost SOL Token Burns
Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.
A new Solana proposal, SIMD 547, could significantly increase the amount of SOL removed from circulation through token burns. Introduced by developer cavemanloverboy, the proposal would add a new base transaction fee that is fully burned instead of being distributed elsewhere. Testing indicates the mechanism could more than triple current daily burn levels, potentially increasing burns by up to 1,800 SOL per day. Supporters say the change could strengthen Solana’s long-term token economics by reducing supply over time. The proposal is currently under community review and would require the Alpenglow network upgrade before it can be activated.
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