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Solana launches onchain governance and sets entry fee at 100,000 SOL staked

Solana launches onchain governance and sets entry fee at 100,000 SOL staked
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A separate, older track called a Solana Improvement Document, or SIMD, handles the follow-up: “Okay, how exactly do we do it?” – the technical details reviewed by the network’s core developers.

A yes on an SGP is a clear signal to proceed, with the engineering work that follows written up as one or more SIMDs.

The vote does not open automatically, however. A proposal has to first clear a support threshold of 15% of active stake before it moves to a ballot, a gate meant to keep the network from voting on matters few actually care about while letting core developers keep shipping routine changes without a referendum on each one.

Once that threshold is met, the process runs on a fixed schedule measured in epochs, the roughly two-day periods Solana uses to organize its operations.

To pass, a proposal needs a supermajority, at least two-thirds of the stake voting for or against it, with abstentions left out of the math. There is no minimum turnout requirement.

(Shaurya Malwa/CoinDesk)

What really stands out is that the system gives more power directly to delegators – the everyday users who stake their SOL with validators rather than running nodes themselves and collect staking rewards.

Source: Original Article

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