Solana Transaction Fees Reach All-Time High, Validator Node Inflation Reduction Accelerates to 30%

On August 27, the seven-day average transaction fee for SOL on the Solana network reached nearly 9,200 SOL, marking an all-time high and an increase of over 80% compared to three months ago. The seven-day average of non-voting transactions hit 191 million, also a record high, compared to 88 million during the same period last year. Jito validators averaged 2,073 SOL in fees over the past week, a 26% increase month-on-month. Meanwhile, the SGP-0002 dual-deflation proposal passed with a support rate of 67.001%, with a voter turnout of 60.7%, setting a new record for governance participation on the Solana chain. This proposal will double the annual inflation reduction rate from 15% to 30%, with an expected reduction of approximately 18.9 million SOL in issuance over the next six years, and staking yields are projected to drop from the current rate of about 5.25% to 2.25% in the third year.