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SIMD-228 Inflation Proposal Rejected as Solana Community Engages in Record-Breaking Vote

The Solana ecosystem witnessed a historic moment in crypto governance as stakeholders overwhelmingly participated in a crucial vote on inflation reform, ultimately rejecting the proposal despite its significant impact. The SIMD-228 proposal aimed to transition Solana’s inflation system from a fixed schedule to a dynamic, market-based model. However, it failed to secure the necessary 66.67% approval, as it ended up attracting only 61.4% of participating votes in favor. While 43.6% of the total staked supply supported the reform, 27.4% voted against it, and 3.3% abstained. Despite the proposal’s failure , the high voter turnout, over 74% of staked supply across 910 validators participated in Solana’s governance process. SIMD-228 Ends in Defeat Multicoin Capital co-founder Tushar Jain described the event as the largest governance vote in crypto history by both participant count and market cap involvement. The proposal sought to address concerns surrounding Solana’s current inflation mechanism, which follows a predetermined path – starting at 8% annually and gradually decreasing by 15% per year until stabilizing at 1.5%. Proponents of SIMD-228 argued that dynamically adjusting inflation based on staking participation would optimize network security, reduce unnecessary token issuance, and encourage greater use of SOL in decentralized finance (DeFi). With Solana’s inflation rate at 4.66% and only 3% of the total supply staked, supporters believed the proposed model could help stabilize the network’s economic dynamics and make SOL more appealing to long-term holders. However, opponents of the reform highlighted several risks, including increased complexity, potential instability from abrupt changes in staking rates, and a negative impact on smaller validators who rely on inflation rewards for sustainability. While the proposal’s defeat means Solana’s existing inflation schedule remains in place, the vote served as a major governance stress test – one that Solana passed with high participation and strong debate. Jain added that the vote revealed opportunities for refining the governance process and hinted at potential improvements for future proposals. “I want to thank everyone who participated in the debate and put themselves in the public arena in service of advancing Solana governance. Public discourse is critically important and it takes a critical mass of people who really care. We ended up revising this proposal over 7 weeks on numerous occasions before it went to a final vote. That wouldn’t have been possible without the contributions of Solana’s passionate community.” SIMD-228 Criticisms Solana Foundation Executive Director Lily Liu had previously criticized SIMD-228, calling the proposal “too half-baked.” She argued that changes to Solana’s economics must be carefully considered, especially at this critical stage of development. The exec also criticized the dominance of network engineers in the discussion rather than asset managers, which she believed led to an imbalanced approach. Defending Solana’s fixed-rate yields, she highlighted their predictability as a key factor for institutional investors while citing the success of Solana’s staked exchange-traded products (ETPs) in Europe as proof of stability’s importance. The post SIMD-228 Inflation Proposal Rejected as Solana Community Engages in Record-Breaking Vote appeared first on CryptoPotato . CoinOtag

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Analyst Affirms Shiba Inu Could Reach $0.01

A crypto market analyst has reaffirmed the possibility of Shiba Inu reaching $0.01, arguing that the cryptocurrency market has repeatedly defied expectations. This statement comes as the asset struggles to maintain upward momentum, trailing behind its primary competitor, Dogecoin (DOGE), in year-to-date (YTD) performance. Despite investor enthusiasm, SHIB’s price trajectory has been disappointing for many holders. Since the start of the year, the asset has declined by 42%, while DOGE has seen a similar 47% drop. The prolonged downturn has placed a significant portion of SHIB holders at a loss. Current data indicates that 61% of investors are “out of the money,” meaning they hold SHIB at a higher price than its current value, while only 4% are breaking even. Crypto Analyst: A $0.01 SHIB Price Is Possible The idea of SHIB reaching $0.01 has sparked skepticism, with many arguing that the required 7996.4% surge is highly unrealistic. However, well-known analyst Luis Delgado, also known as Del Crxpto, has pushed back against these claims, maintaining that such a price increase is not out of the realm of possibility. In a recent statement, Delgado emphasized that the cryptocurrency industry has witnessed seemingly impossible events on multiple occasions. He urged critics to consider past market trends before dismissing SHIB’s potential to reach the ambitious price target. Adding to this optimism, the #1CentDreamSHIB movement continues to gain traction within the community, reflecting strong investor belief in a long-term surge. Notably, members of the development team share this sentiment. Lucie, Shiba Inu’s marketing lead, has voiced her confidence in the asset’s future growth. She revealed that she has been holding the token since 2021 and remains optimistic that the asset will eventually achieve a significant price increase, even if it takes longer than anticipated. When Could Shiba Inu Realistically Reach $0.01? While reaching $0.01 requires an extraordinary price increase, several industry analysts have attempted to estimate a potential timeline for such a surge. Analysts Jason Williams and Yazan, who primarily focus on Bitcoin, have projected that SHIB could surpass $0.01 as early as this year, potentially setting the stage for a further rise to $0.05. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Other forecasts suggest a much longer timeline. Research conducted by Changelly predicts that the token may reach the $0.01 milestone by 2050, while Gemini AI (formerly known as Google Bard) provides a slightly more optimistic estimate, forecasting that the price could hit this level by 2040. For the token to achieve this ambitious price, key structural changes would need to occur within the ecosystem. A significant reduction in SHIB’s circulating supply is essential, as an excessively high supply limits price growth. Additionally, increased real-world adoption and new technological advancements within the ecosystem could drive long-term demand, further supporting a potential price increase. While many investors remain hopeful about the token’s long-term potential , achieving a $0.01 valuation remains a subject of debate. Historical trends in the crypto industry show that dramatic price increases can happen, but they often require favorable market conditions and fundamental changes. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post Analyst Affirms Shiba Inu Could Reach $0.01 appeared first on Times Tabloid . CoinOtag