Solana Fee Revenue, Non-Vote Transactions Hit New Highs as SGP-0002 Passes

Solana's SOL-denominated fee revenue reached a seven-day average of nearly 9,200 SOL on August 27, more than 80% higher than three months earlier. According to ChainCatcher, non-vote transaction volume also hit a seven-day record of 191 million, up from 88 million a year earlier, while Jito validator tips averaged 2,073 SOL per day over the past week, rising 26% week over week. Meanwhile, the SGP-0002 "double deflation" proposal passed last Friday with just over 67% support, above the 66.67% threshold, with 60.7% voter participation across 1,326 validators, a record for Solana governance participation. The proposal will double the annual deflation rate from 15% to 30% and is expected to remove about 18.9 million SOL from planned issuance over six years. The change means fewer new SOL tokens will enter the market each year, while validators will earn less for the same amount of work. Staking rewards are set to fall from about 5.25% to 2.25% in the third year, which could pressure validators that rely on inflation-based income rather than transaction fees. The article said the impact is expected to fall mainly on smaller independent operators, while ordinary users are unlikely to see a noticeable change in Solana's speed or fees.