Solana Validators to Get More SOL as Fee Proposal Passes in Favor

Over 77% of Solana governance participants voted in favor of giving validators the full priority fee amount per transaction.

Solana governance participants have voted overwhelmingly in favor of a proposal to increase validator compensation by giving them the full priority fee amount per transaction, according to governance data. Over 77% of participants voted in favor of the measure, which was implemented on Monday with a feature called "Reward full priority fee to validators #34731.

Validators play a crucial role in blockchain networks by running software to confirm transactions and maintain the network's security. On the Solana network, priority fees are an additional fee that users can pay to increase the likelihood of their transactions being processed more quickly by the network.

Under the previous model, half of the fees in a priority transaction were burned while the other half went to the validators. This reportedly led to validators making “side deals” with transaction submitters to get more SOL, as stated by proposal creator tao-stones on the Solana governance forum.

The proposal aimed to rectify this issue by giving all the priority fees to the validators, ensuring that they are more focused on keeping the network safe and running smoothly, according to tao-stones.

The proposal is part of Solana Improvement Document number 96 (SIMD-0096), which was implemented on Monday. SOL tokens rose by 1.6% over the last 24 hours, trading at $166 in Asian afternoon hours on Tuesday, according to CoinGecko.

By Shaurya Malwa

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