The Solana Foundation, the Swiss organization supporting the development of the Solana network, has launched a novel protocol-level governance framework that enables proposing and voting on decisions regarding the management of the Solana blockchain.
Solana Governance Proposals (SGPs) establish a standard that allows validators to submit core protocol proposals and vote on-chain, with voting power based on the Solana Package (SOL) they delegate, the Foundation announced in Thursday’s X issue. post.
“SGP records a bid-weighted directional decision. It records what the community wants. It doesn’t just focus on the technical details of building features,” according to the GitHub repository, fired on Thursday.
The novel framework offers Solana a crystal clear, community-driven way to make major protocol decisions, reducing reliance on centralized coordination while keeping technical implementations or Solana Enhancement Documents (SIMDs) separate from community management.
Other blockchain networks with similar weighted rate management mechanisms include Polkadot, Cosmos, Cardano, Tezos, and Avalanche.
Source: Solana Foundation on X.com
Proposals require a minimum of 15% support
A proposal must receive support from validators representing at least 15% of Solana’s actively staked tokens to qualify for formal onchain voting, which aims to filter out low-quality proposals.
Validators with at least 100,000 SOL delegated can open a novel governance proposal via SGP. SOL Stakers can delegate their shares to validators, allowing them to participate in the governance process on their behalf.
Delegates who disagree with the way their validator voted can now override the validator’s vote and cast their own vote on a proposal, thereby invalidating the validator’s vote on that proposal.
Information about SGP voting, minimum threshold. Source: GitHub
The Solana Foundation stated that governance-level proposals would be SGPs, while smaller SIMD proposals would focus on technical protocol updates.
“SIMDs should focus on protocol changes, SGPs should be signals from the ecosystem,” the Foundation wrote.
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In April, the Solana Foundation, in partnership with Asymmetric Research, a Web3 security company, introduced a novel security audit framework and incident response network for Solana-based protocols.
The novel initiative, Solana Trust, Resilience and Infrastructure for DeFi Enterprises (STRIDE), is a “structured program to assess, monitor, and escalate security across Solana projects,” according to an April announcement.
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