Unchained

Solana Insiders Wanted to Reduce Inflation, but It Failed. Here’s What the Proposal’s Author Thinks - Ep. 800

Listen Later

The Solana ecosystem just completed a critical governance vote. SIMD-228, a proposal to tie Solana’s inflation rate to its staking participation rate, was put forward by Multicoin Capital and Anza, but despite a majority voting in favor, it failed to meet the required supermajority to pass.

Tushar Jain, co-founder and managing partner at Multicoin Capital, who co-authored the proposal, joins the show to discuss:

  • Why he believes the proposal was necessary
  • Whether inflation is too high for Solana’s long-term health
  • If some validators voted against their own interests
  • The silver lining of the governance process
  • Why a smaller proposal focused on fee sharing did pass
  • Whether Multicoin Capital will resubmit a revised proposal

    • Visit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com

    Thank you to our sponsors!
    • BitKey: Use code UNCHAINED for 20% off
    • Mantle
      • Guest
      Tushar Jain, Co-founder and Managing Partner at Multicoin CapitalLinks
      • Unchained: Proposal to Cut SOL Inflation by 80% Fails After ‘Close Call’
      • SIMD Vote Status
      • Kayuza’s tweet 


        • Timestamps:

        🤝 0:00 Intro

        🗳️ 3:09 Why Solana’s inflation rate was initially an afterthought 

        💰5:20 Why inflation became untenable

        ⚙️ 6:23 What does it take to right-size inflation for Solana

        ⚙️ 7:18 How SIMD-228 would have worked

        🤯 11:00 Why Tushar “does not want to bet on people being dumb”

        💰 15:48 How this could have strengthened DeFi on Solana

        😕 17:49 Why Tushar was disappointed with the outcome but sees a silver lining

        📚 19:49 Could the vote have been fairer?

        ⚖️ 22:06 Whether smaller validators would be unfairly hurt by SIMD-228

        🔐 27:37 Does Solana pay too much for security?

        📈 27:55 Would this have boosted the price of SOL?

        ✔️28:19 Whether validators should ask stakers how to vote

        ✅ 30:13 What the passing of SIMD-123 means for the network

        🔄 32:40 Will Multicoin resubmit the proposal?

        📰 34:50 News Recap

        Learn more about your ad choices. Visit megaphone.fm/adchoices

        ...more
        View all episodesView all episodes
        Download on the App Store
        UnchainedBy Laura Shin