Solana’s proposed fee overhaul would make resource-heavy transactions more expensive while cutting costs for simpler activity, and it increases the amount of SOL burned.
Solana is preparing to change how it charges for computing resources on the network.
Solana Improvement Document (SIMD-0553) would make its most resource-intensive users pay more while cutting the costs for simpler transactions. As a bonus, it would increase SOL’s burn rate in stages — and one day could even help make it deflationary.
Cavey, a researcher at Solana infrastructure firm Temporal and author of the proposal, tells Magazine that fees currently don’t reflect the real costs:
This proposal would change that by tying fees more closely to the resources each transaction requests. Rather than going to validators, the resource fee would be burned, removing SOL from circulation.
Of course, reducing validator income has not been welcomed by all. Contributor bji argues on github:
SIMD-0553 entered Solana’s new onchain governance process in early August and cleared its initial support phase on August 4.
It is currently in the support and discussion phase, which typically lasts seven epochs, or roughly two weeks. If it’s approved, it would change the incentives around Solana’s cheap blockspace.
Cavey says that Solana’s current fee structure creates a problem for developers.
Core Solana devs have spent years making the network faster, but applications have almost no financial incentive to stop wasting resources — an inefficient transaction costs the same as an efficient one.
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“By installing this resource pricing right now, suddenly app developers have to optimize,” Cavey says.
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