Solana validators recently voted in favor of an improvement proposal called SIMD-0096. This proposal aims to send all transaction priority fees (additional fees paid by users to have their transactions processed sooner) in full to the validators producing these blocks, instead of the previous arrangement where 50% of the fees were burned and 50% given to validators.
The purpose of this proposal is to enhance the incentive mechanism for validators, ensuring they focus more on network security and efficiency rather than seeking personal gains through private transactions. The original proposal stated:
“This proposal received 77% support in the on-chain vote, with supporters including Jito, Helius, Solend, Everstake, and Stakehaus validators. However, there were also some validators opposing this proposal, such as Step Finance, Triton, and Solana Compass.”
Priority fees are optional fees that users can choose to add to their transactions, with the aim of ensuring their transactions are prioritized. The SIMD-0096 proposal suggests ceasing the burning of these priority fees but still maintaining a 50% burn for basic transaction fees.
This proposal is expected to be implemented on the Solana mainnet in the coming months.
