The Coin Rise
2025-03-16 21:15:17

Solana Founder Shares Big Take After Governance Proposal Failed

Solana co-founder Anatoly Yakovenko has spoken out after a key proposal to modify Solana’s tokenomics was rejected. The proposal, Solana Improvement Document (SIMD)-0228, suggests a new way to revolutionize the Solana ecosystem. Some people think the rejection was a setback. However, Yakovenko believes it shows that Solana’s governance works quickly and effectively. In a recent X post , he emphasized that fast decision-making is more important than approving every proposal. Meanwhile, investors are watching SOL’s price closely, with some predicting a big jump soon despite ongoing market challenges. Solana’s Proposal Rejected, But Yakovenko Sees Progress SIMD-0228 was designed to introduce a new inflation model for Solana. However, many in the community were worried it would make the network too centralized and hurt smaller validators, so the proposal was rejected. However, Yakovenko sees the failed vote as a positive sign. In his post, he said that governance should be decisive rather than slow and cautious. Over 74% of validators participated in the vote, with major players like VanEck supporting the proposal. He believes Solana’s ability to make quick decisions, whether approving or rejecting proposals, helps the ecosystem move forward faster. Market Pressure Grows as Solana Struggles The failure of the SIMD-0228 proposal has added to uncertainty in the Solana ecosystem, as some investors had expected its approval to drive up Solana’s price. The network has been under pressure recently due to FTX and Alameda Research SOL’s recent unstaking event . A decline in trading volume on Solana’s decentralized exchanges (DEXs) has also raised concerns about the asset’s price movement. Despite these challenges, many traders still believe SOL has strong growth potential. Is a $4,000 SOL Possible? Despite overall market struggles , some analysts predict Solana could follow a similar price pattern in 2021 and surge to $4,000. There is even speculation that the digital asset could surpass Ethereum’s market value one day. Optimistic investors point to the increasing number of projects built on the network and see strong on-chain activity as a growth catalyst . In the short term, traders hope SOL could reach $200 by the end of March despite concerns about a potential price drop. According to CoinMarketCap data, Solana is trading at $128.79 at the time of writing, down 4.04% in the last 24 hours. For now, Solana’s governance is proving its ability to make quick decisions, but whether this benefits the network in the long run remains to be seen. The post Solana Founder Shares Big Take After Governance Proposal Failed appeared first on TheCoinrise.com .