SOL Treasury firm HSDT: Supports the Solana Constitution, but opposes adjusting inflation and transaction fees at this time.

SOL Treasury Company (HSDT) has announced its voting stances on the first three Solana Governance Proposals (SGPs): it supports SGP-0001, the "Solana Constitution"; opposes SGP-0002, which would double the inflation reduction rate; and rejects SGP-0003, which would shift transaction fees from fixed to variable. On-chain voting is scheduled to open on August 22. The firm stated its support for the Solana Constitution stems from the new governance framework, which allows every staker to vote directly, and holders can always override the votes of the operators they have delegated—this, it says, facilitates institutional participation in network decision-making. Regarding the other two proposals, the company emphasized it is not opposed to the policy directions themselves, but rather the timing. This is a critical phase for institutions considering entering Solana, where rule stability and predictability are top priorities for institutions. Altering core economic parameters like inflation rates and transaction fees at this juncture could further deter institutions that remain on the fence. The firm added that it will support revisiting inflation reduction once it sees sustained net capital inflows into SOL, and is open to reconsidering variable transaction fees after the ecosystem adapts.