Solana Company (HSDT) Backs Solana Constitution, Votes Against Disinflation

Solana SOL$100.58-1.0% (Nasdaq: HSDT), a Philadelphia-based digital asset treasury company operating institutional validator infrastructure across Asia-Pacific, published its positions on all three Solana Governance Proposals ahead of on-chain voting that opened today, August 22. The company will vote for the Solana Constitution and against both economic reform proposals, framing each objection as a question of timing rather than a disagreement with the intent of either proposal.

The disclosure also functions as notice to HSDT delegators: under the stake-weighted system that SGP-0001 would introduce, stakers can override the vote of their validator directly, and HSDT published its stance in advance specifically so delegators could act with full information.

Why HSDT Supports the Solana Constitution (SGP-0001)

SGP-0001 ratifies the on-chain governance rules themselves, establishing how all subsequent proposals operate. Critically, it gives SOL holders who stake with a validator the ability to override the vote of that validator, keeping final decision-making authority with token holders rather than operators. For Solana Company, those rules provide neutral, transparent infrastructure for institutional participation, a position Chee tied to institutions' need for consistent, predictable structures.

Staking Revenue and the Case Against Faster Disinflation (SGP-0002)

According to @SolanaFloor's analysis of the proposal, SGP-0002 would double Solana's annual disinflation rate from 15% to 30%, reaching the 1.5% terminal inflation target in 2.8 years rather than the existing 5.7-year schedule, removing approximately 18.9 million SOL from the emissions supply over six years. For Solana Company, that reduction is not an abstraction. The company earned 2.512 million USD in Q2 staking revenue from 31,200 SOL rewards, making staking yield a reported financial line item with direct consequences for revenue forecasting. Cutting emissions faster than modeled would reduce that income before institutions have time to adapt their multi-year financial planning. Solana Company says its current inflation schedule is a settled, deterministic schedule that institutions can project across multiple fiscal years. Reopening it now transfers forecasting risk onto staking participants while institutional evaluation of the network is still forming.

Variable Fees and Budgeting Certainty (SGP-0003)

SGP-0003 proposes replacing the Solana flat transaction fee with a compute-linked resource fee and an inclusion fee that fluctuates with network load. Under current conditions, daily SOL burns could rise from roughly 650 to between 7,500 and 9,000 tokens if the new model passes. The Solana Company position mirrors its SGP-0002 stance: it agrees in principle that variable fees better reflect actual resource consumption, but objects to the timing. The current flat fee is a fixed cost that institutional treasury and operations teams can model. A resource-linked fee introduces estimation risk that Solana Company says should transfer to users only once the broader ecosystem has the tooling to manage it. The company said it would be open to a design that preserves a deterministic fee floor.

Approval Threshold and What a Passing Vote Means

All three proposals require 66.67% of decisive stake to pass, according to crypto.news. A successful vote carries policy weight but is not self-executing: developer implementation remains a separate decision. For background on the three proposals and the governance system, see our earlier piece: Solana's First On-Chain Governance Vote Opens Sunday With Three Proposals. Solana Company is one validator among many and its stake weight will not determine outcomes on its own. What its announcement adds to the first Solana on-chain vote is a documented, reasoned position from a publicly listed company that treats staking yield as operating income, a perspective that will matter more, not less, as institutional holders make up a larger share of stake in the network.