This Unchained podcast episode interviews Tushar Jain, co-founder of Multicoin Capital, about the failure of Solana Improvement Proposal (SIP) 228, which aimed to make Solana's inflation rate a function of staking participation. The discussion covers the proposal's goals (reducing inflation costs and incentivizing staking), the arguments for and against it (including a debate about attracting retail vs. institutional investors), and the outcome (failure to reach the required supermajority vote). Jain analyzes the reasons for the proposal's defeat, highlighting the principal-agent problem between validators and stakers and the need for improved governance tools. The episode also touches on a related, successful proposal (SIP-123) that enables on-chain revenue sharing for validators and stakers.
