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On August 25, the Solana community is advancing governance proposals SGP-0002 and SGP-0003, aimed at tightening the supply of SOL tokens through a dual mechanism of 'reducing new supply + increasing burn'. Among them, SGP-0003 (detailed mechanism corresponding to SIMD-0553) proposes to introduce a resource consumption-based transaction fee mechanism, charging fees based on the network resources consumed by transactions. This is expected to increase the daily burn of SOL from the current approximately 650 tokens (around $65,000) to between 7,500 and 9,000 tokens (approximately $750,000 to $900,000). The other proposal, SGP-0002 (detailed mechanism corresponding to SIMD-0550), plans to double the rate of decline in SOL's annual inflation, aiming to achieve a minimum inflation target of 1.5% by 2029 instead of the originally planned 2032. It is expected to reduce the issuance of SOL by approximately 18.9 million tokens over the next six years, valued at about $1.89 billion at current prices. Currently, both proposals are in the voting phase. SGP-0002 has a voting rate of 16.71%, with a support rate of 16.24%, opposition rate of 0.31%, and abstention rate of 0.16%; SGP-0003 has a voting rate of 13.53%, with a support rate of 13.23%, opposition rate of 0.27%, and abstention rate of 0.03%. Both require a 1/3 participation rate to pass. If the proposals ultimately receive enough support, the Solana network will further optimize its token supply structure by combining reduced new issuance with increased transaction fee burns. Voting is still ongoing, and further progress will depend on participation and support levels.

On August 25, the Solana community is advancing governance proposals SGP-0002 and SGP-0003, aimed at tightening the supply of SOL tokens through a dual mechanism of "reducing new supply + increasing burn." Among them, SGP-0003 (detailed mechanism corresponding to SIMD-0553) proposes to introduce a resource consumption-based transaction fee mechanism, charging fees based on the network resources consumed by transactions. This is expected to increase the daily burn of SOL from the current approximately 650 tokens (around $65,000) to between 7,500 and 9,000 tokens (approximately $750,000 to $900,000). The other proposal, SGP-0002 (detailed mechanism corresponding to SIMD-0550), plans to double the rate of decline in SOL's annual inflation, aiming to achieve a minimum inflation target of 1.5% by 2029 instead of the originally planned 2032, which is expected to reduce the issuance of SOL by about 18.9 million tokens over the next six years, valued at approximately $1.89 billion at current prices. Currently, both proposals have entered the voting phase. The voting rate for SGP-0002 is 16.71%, with a support rate of 16.24%, opposition rate of 0.31%, and abstention rate of 0.16%; the voting rate for SGP-0003 is 13.53%, with a support rate of 13.23%, opposition rate of 0.27%, and abstention rate of 0.03%. Both proposals need to reach a participation rate of 1/3 to pass. If the proposals ultimately receive sufficient support, the Solana network will further optimize its token supply structure by combining reduced new issuance with increased transaction fee burns. Voting is still ongoing, and future progress will depend on participation and support levels.

According to market sources, Harry Jung will lead the cryptocurrency, DeFi, and digital asset work at the CFTC (Commodity Futures Trading Commission). It is reported that Harry Jung joined the CFTC in 2023, serving as an advisor and senior policy advisor to Commissioner Caroline Pham. Prior to joining the CFTC, Harry Jung held several senior positions at Citigroup, including Senior Vice President of the CEO's Office and Chief Administrative Officer's Office, focusing on global regulatory strategy. He also led regulatory affairs related to digital assets and coordinated with US prudential regulators and capital market regulators.