The second half of August 2026 was exceptionally active for the cryptocurrency market. Against a backdrop of unexpected macroeconomic news and interventions in the bond market by the US Treasury, the price of Bitcoin surpassed $79,500, showing its best weekly gain in three years.
Altcoins are keeping pace with the flagship: according to the latest data from CoinGecko, the cryptocurrency Solana (SOL) gained 21% over the past week. It is against this positive and dynamic market backdrop that the Solana ecosystem is preparing for a historic event—the first on-chain governance proposal (SGP) vote, which will take place on August 22.
Solana Company, a major operator of institutional validator infrastructure in the Asia-Pacific region, has publicly announced its voting strategy for the first three proposals. This step aims to ensure maximum transparency, allowing delegators to make informed decisions. It is specifically emphasized that their choice is driven by the interests of long-term institutional adoption of the blockchain.
The first item on the agenda is the Solana Constitution (SGP-0001), which the company fully supports. This document establishes the foundations for a new governance system where every staking participant receives a transparent vote proportional to their stake. Furthermore, the underlying asset owner can always override their operator's vote. Such a mechanism is crucial for large financial institutions wishing to participate directly in the network's development.
Regarding the other two initiatives, Solana Company plans to vote against. Proposal SGP-0002 concerns doubling the rate of inflation reduction, and SGP-0003 proposes replacing fixed transaction fees with floating fees based on resource usage. Company representatives note that their disagreement is not with the essence of these long-term ideas, but with the untimeliness of their implementation. For traditional capital markets, the predictability of the rules of the game is of decisive importance.
The same position applies to the fees (SGP-0003). Current fixed fees allow financial companies to plan budgets in advance, while a sharp transition to variable costs before the adaptation of the entire ecosystem shifts the risk of transaction cost estimation onto the users.
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