I validatori della rete crypto Solana possono festeggiare dopo che lunedì è stato approvato il “Solana Improvement Proposal for Developers-0096” (SIMD) che sancisce l’accorpamento del 100% delle priority fee degli utenti proprio ai soggetti che contribuiscono a validare le transazioni del network nella mainnet-beta.
Currently, the system is still in place where half of the commissions go to the validators and half is burned to help reduce the impact of inflation on the SOL token.
This update improves the security of the network and creates an incentive for the insiders of Solana, while worsening the tokenomics of the main asset of the ecosystem.
Let’s see everything in detail below.
Summary
SIMD-0096: approved the proposal to allocate 100% of the priority fee to the crypto validators of the Solana network
Yesterday the vote of the Solana community concluded for the SIMD-0096 focused on the issue of assigning priority fees, that is, those additional fees paid by users to advance a transaction on the network and ensure it is selected and processed more quickly than others.
At the moment, the previous system is in place, which establishes the payment of 50% of this reward to the validators while the remaining 50% is burned to support the price action of SOL.
After the latest approval of the governance proposal presented by “tao-stones”, with 77% of participants in favor, it was decided to move to a new model according to which 100% of the priority fee will be given to the validators, implementing it with a function called “Reward full priority fee to validators #34731.”
In any case, this transition will not be effective immediately, as it has not been supported in the current beta mainnet and in the upcoming beta mainnet software, but it will be included in the following update.
We remind you that validators are fundamental actors within the Solana ecosystem, being responsible for running the software and confirming the network’s transactions, thus capable of maintaining security intact.
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The choice to switch to a new model of assigning priority fees is due to the fact that the old system could potentially create imbalances between incentives for validators and sicurezza of the network.
In this regard, Tao-stones suggests that giving all priority fees to validators would ensure more internal security and a smoother operation of the chain, considering that until today several entities have made collateral agreements with block producers so that their transactions would be processed first.
Mentre la nuova proposta dissuade da questi comportamenti e apporta vantaggi in termini di sicurezza, ci sono alcuni membri della community di Solana che si sono posti contrari all’assegnazione totale delle fee ai validatori.
In fact, all this would end up removing the burn mechanism of the SOL supply, contributing negatively to the tokenomics of the asset: an increase of 4.6% in the emission of SOL is estimated, which was substantially the same as before the introduction of priority fees a year ago.
Hanko Baggins from the Solana Bandito Stake validator stated the following on X to comment on the news:
“While our luggage would greatly benefit from the tax increase, I do not feel comfortable with the removal of the combustion mechanism”
In any case, Anatoly Yakovenko, co-founder of Solana Labs, has addressed some concerns on X within the current system, in which users end up paying double the priority fee in order to surpass the tips that go to the validators.
Among those who voted (only the validators were called to the polls) in favor of the proposal, we find Everstake, Bonk, and Solend while among the opponents there are entities like Step Finance, Solana Compass, and Triton.
At the moment Solana boasts the presence of 1,650 validators with a “nominal stake APY” of 7.35%: the entities with the most SOL in charge are Coinbase 02, Galaxy, Ledger by Figment, Figment, P2P.org and Everstake.
SOL crypto price analysis: the update could inflate the token supply
As mentioned, this new update to the priority fee allocation system could damage the tokenomics of the Solana token, adding inflationary components with consequent pressure on the cryptographic supply side.
In any case, it is certainly not the end of the world for SOL, which in the last 8 months has shown graphical performance well above the 4.6% threshold, which identifies the future annual issuance of new tokens in the network.
From October until today, in fact, the crypto has increased by about 600%, going from 24 dollars to the current 167 dollars, seeing an increase of 70 billion dollars in market capitalization.
SOL is still 54% away from reaching the all-time highs of 260 dollars, but it could soon reach them if the same enthusiasm that characterized the first quarter of the year returns to the crypto exchanges.
At the moment, the biggest obstacle will be to return in the short term above 200 dollars, definitively identifying the recent price drop as a temporary dip contained within a larger bull movement.
Once the 200 dollars mark is surpassed, it is very likely that the breaking of the ATH will be discounted, with its timing mainly depending on the general conditions of Bitcoin and the entire cryptographic market.
While remaining optimistic and bullish on the price action of SOL, even considering the future issuance of new coins, we remind you to be cautious about tokens that have recorded significant growth like this one.
The prices are far from the EMA 50 weekly and in case of a violent market downturn, we could witness a drop near that level.
