On April 23, the Solana Foundation launched the validator 'one in, three out' reform: for every new independent validator, three nodes relying on foundation support will be eliminated. The official claim is that this move aims to reduce reliance on foundation staking, but data reveals potential risks; currently, 62% of nodes are supported by the foundation, of which 51% may be eliminated due to rigid conditions such as 'mainnet operation for less than 18 months' or 'external staking not reaching 1,000 SOL'.
Cost of reform: Survival battle for small and medium nodes
In the past, the foundation supported small nodes through staking subsidies and cost sharing, but under the new policy, the operational threshold for nodes has skyrocketed: they need to prepare at least 3,500 SOL (approximately $2.4 million) and an annual maintenance cost of $45,000.
Small validators that lose support may be forced to exit, and network power may further concentrate towards well-funded large nodes.#币安Alpha上新
Motivation for reform: Paving the way for ETFs?
Under regulatory pressure, Solana is urgently responding to centralization concerns. After the new SEC chairman took office, cryptocurrency ETF approvals accelerated, and Solana is seen as a potential breakthrough. However, this reform has been questioned as a superficial effort, creating an illusion of decentralization by eliminating small nodes, while in reality reinforcing the voice of large institutions.#加密市场反弹
Institutions enter the market, retail investors exit
At the moment of policy implementation, capital is taking frequent actions: SOL Strategies announces $500 million financing to lay out self-operated nodes, DeFi Development Corp stakes over 310,000 SOL to lock in long-term profits. On one side, small and medium nodes struggle on the brink of elimination, while on the other side, institutions accelerate the harvesting of network control.
Behind the controversy: The scale of decentralization
From the controversy surrounding the SIMD-0228 protocol to the new 'one in, three out' rule, Solana's reform has always faced a soul-searching question: When decentralization becomes a cover for capital games, has the original intention of blockchain been distorted? The real challenge may lie in how to keep more ordinary participants at the table.
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