Published At : 23 Aug, 2026
Solana Company rejects SOL inflation and fee plans
U.S. investors have exposure to Solana staking rules
Because Solana Company is listed on the Nasdaq Capital Market, American investors can gain indirect exposure to SOL, staking revenue, and validator operations through HSDT shares without holding the token themselves.
The company's financial results remain sensitive to SOL prices, staking returns and capital raised through stock sales. During the second quarter, it raised $7.9 million in net proceeds by selling about 3.08 million shares at $2.60 each, while spending approximately $2.3 million to repurchase 1.3 million shares.
Changes to Solana's issuance schedule could also affect U.S.-listed funds that stake their SOL holdings. An Aug. 11 fund report found that Bitwise's Solana Staking ETF held 8.18 million SOL worth $622.02 million as of Aug. 9, with 99% of the tokens staked.
Bitwise reported a 6.21% gross annualized staking reward rate over the previous 90 days and a 5.84% net rate after staking-related costs. The fund warns investors that rewards can change with network conditions and do not represent the ETF's investment performance. A successful SGP vote would not immediately alter Solana's issuance or fee rules. Each proposal must secure support from at least 66.67% of the decisive stake, which includes votes for and against but excludes abstentions. Even after approval, an SGP serves as a policy instruction rather than executable code. Developers would still need to complete the associated Solana Improvement Document, prepare the software, and deploy the change through a feature gate. Solana Company said it disclosed its positions before voting so delegators would know how their validator operator intended to vote. Under the proposed constitution, the underlying SOL holder can override an operator's choice by submitting a separate vote.
Solana Company opposes changing two economic rules
While supporting the governance framework, Solana Company said the first voting cycle should not be used to change Solana's issuance schedule and transaction fee model at the same time.
Management described the goals behind SGP-0002 and SGP-0003 as reasonable. However, the company said institutions considering validator operations or staking need economic rules they can model across several years.
In conversations with financial institutions, Solana Company said issuance itself has rarely been raised as a barrier. Questions have instead focused on whether Solana's economic rules will remain reliable long enough for institutions to forecast revenue, costs and cash flow.
Changing two of the network's most stable economic parameters during the first live governance cycle could delay decisions by firms already assessing Solana, according to the release. The company therefore framed both opposing votes as objections to timing rather than to the proposals' underlying goals.
"We strongly believe that institutional adoption is a critical driver of Solana's growth, and institutions make decisions based on consistent, predictable structures," Solana Company Chairman and CEO Joseph Chee said. Chee added that the disclosed positions were intended to support institutional participation and said the company plans to work with other industry participants as Solana's governance system develops.
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