Morning Minute: Solana Jumps with Network Inflation Set to Drop

🗳️ Solana Has Its Best Month Ahead of Major Inflation Change

SOL is having the kind of month that makes people forget the last two years.

The token climbed back above $105 for the first time since January and is up roughly 44% in August, its strongest month since 2024. Then the same day the chart went vertical, Solana closed the first binding onchain governance vote in its history, one that decides how much SOL the network inflates (or disinflates) going forward.

The tallies came in with all three proposals above quorum and all three passing.

• SGP-0002 doubles the disinflation rate, meaning the speed at which new SOL issuance shrinks each year, from 15% to 30%. Solana already grinds toward a fixed 1.5% inflation floor. This gets there by 2029 instead of 2032 and removes roughly 18.9 million SOL from the projected issuance schedule. The cost lands on stakers, since issuance is what pays them. 21Shares figures staking yield drops from about 5.25% today to around 2.25% within three years. Smaller validators could get squeezed out entirely.
• SGP-0003 comes at supply from the other side. It splits the transaction fee into a base fee that still pays validators and a new resource fee, tied to how much compute a transaction burns, that gets destroyed outright. Daily burns would go from about 650 SOL, worth roughly $48,000, to as much as 9,000 SOL, worth around $668,000.

Not everyone wanted it. Solana Company, the Nasdaq-listed treasury firm trading as HSDT, backed the constitution and voted against both economic changes, arguing that institutional stakers need predictable yield more than they need a faster cut. DeFi Development Corp voted the other way on all three, then put money behind it, buying 19,000 SOL for $1.86 million at an average of $98.14. That’s DFDV’s first SOL purchase since October 2025, funded partly by unwinding its ZeroStack position, and it lifts the treasury to roughly 2.33 million SOL. DFDV shares gained more than 16% Thursday and have doubled in a month, though they sit about 90% below the May 2025 high.

Overall, some big changes are coming to Solana on the supply side. And the demand side got a big piece of news when Charles Schwab said it plans to add SOL, AVAX, and LINK to Schwab Crypto, which puts SOL in front of tens of millions of brokerage accounts.

So the setup going into September is a supply schedule the network just voted to tighten, a distribution channel about to get much wider, and treasury companies buying again for the first time in ten months. And it comes when Solana’s leading apps (Pump.fun, Fomo) are seeing explosive growth. It’s quite the bullish setup…

🌎 Macro Crypto and Markets

• Crypto majors are slightly green with SOL leading; BTC  even at $79.6k; ETH +0.1% at $2,504; SOL +2% at $106; HYPE +1% at $83 (briefly hit $85)
• Top alt movers include ENA (+13%), STX (+6%) and JUP (+6%)
• Oil +1% at $83; Gold even at $4,650
• Stock futures are flat ahead of Warsh’s comments at Jackson Hole; DOW even, Nasdaq -0.2%
• About 81,700 Bitcoin options worth $6.44 billion expire on Deribit on Friday, with a fifth of the exchange’s Bitcoin open interest settling in one session
• Ledger rejected claims it had been hacked after OneKey reproduced a transaction-replacement bug in an outdated Ethereum app, saying the flaw was patched August 13 and never exploited outside a lab
• CZ told a Hong Kong conference that Bitcoin will overtake gold, possibly in the next bull run, with the market value gap now around tenfold
• Ethena ended monthly VC unlocks and bought back locked tokens from selling seed investors as holders vote on a fee switch routing 95% of net revenue to ENA buybacks, sending the token up 23%
• MoonPay added Kamino to PayBox, letting users lend and borrow on Solana by talking to ChatGPT or Claude, with the AI able to act autonomously inside preset limits

Corporate Treasuries & ETFs

• The Bitcoin ETFs saw $242M in net inflows on Thursday; the ETH ETFs saw $225M in inflows

Meme Coin Tracker

• Meme leaders were mixed; DOGE -1%, SHIB -1%, PEPE -3%, PENGU even, TRUMP +18%, SPX -5%; Fartcoin -2%
• Robinhood chain saw major gains again; PONS +10%; AI +33%, Pipedog +20%, DELTA +20% and CHILL +16x; Cashcat -10% at $200M
• Solana leaders included fone (+500% to $34M), Zoe (+50%), and GTA6 (+240%); Ansem +20% at $340M
• The GTA VI leaker claimed about $146,000 in creator fees and dumped 15.4 million tokens hours before Rockstar's gameplay reveal, sending CYBERLEEK down 46% to a $7 million cap from a $25 million peak

💰 Token, Airdrop & Protocol Tracker

• Pump.fun hit 100k active users in its Pump.fun app for the first time, while revenue hit a new local high at $3.27M
• Stonkfun teased that its Launchlab integration will be coming soon, which will change deployments, add bonding curves and enhance the UX

🚚 What is happening in NFTs?

• NFT leaders were mostly flat; Punks +1% at 32.2 ETH, BAYC -1% at 7.9 ETH, Pudgy -2% at 4.3 ETH
• Quotrons (+113%), Templars of the Storm (+110%) and RH Machines (+93%) led top movers
• FWA’s latest drop ‘Save ETH’ debuts at 0.054 ETH, just above mint price; FWA tumbles to $16M