Solana Launches On-Chain Governance Mechanism, Proposals Require 15% Stake Support to Be Eligible for Voting

CoinFeed July 2 news, the Solana Foundation announced on the X platform that the Solana on-chain governance mechanism has been launched. Validators can now propose, support, and vote on core protocol decisions through Solana Governance Proposals (SGP). All proposals are completed on-chain, based on stake weight and verified through Merkle proofs. Any validator with at least 100,000 SOL delegated can permissionlessly initiate an SGP. SIMDs are only used for technical, minor protocol changes, and all governance proposals must be submitted in the form of SGP. If delegators disagree with the validator's voting choice, they can override the validator's vote on the governance page according to their own stake weight. Proposals need to obtain at least 15% stake support to enter the voting phase, ensuring governance focuses on important matters.