Solana Insiders Wanted to Reduce Inflation, but It Failed. Here’s What the Proposal’s Author Thinks - Ep. 800
The proposal to significantly reduce Solana's inflation didn’t pass. Multicoin Capital’s Tushar Jain, one of the authors of the SIMD-228 proposal, explains why it failed and what it means for the future of Solana.
Audio is streamed directly from the publisher (pdrl.fm) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
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!
Guest
- Tushar Jain, Co-founder and Managing Partner at Multicoin Capital
Links
- 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