Solana account rent to decrease by 90%? SIMD-0389 proposal may unlock hundreds of millions of dormant SOL

【Blockchain Movement】 Recently, there was some pretty exciting news at the Solana Breakpoint Conference—Brennan Watt, the Vice President of Core Engineering at Anza, mentioned that they are pushing forward the SIMD-0389 proposal, aiming to cut the cost of creating a Solana account by 90%, and possibly in the future, even reducing it to just 1% of the current cost.

Here’s a quick background: On Solana, if you want an account to store data permanently, you have to pay a “rent” (Account Rent). Essentially, this fee covers the on-chain storage space. If this proposal is implemented, the barrier to opening an account will be ridiculously low.

More importantly, the Anza team pointed out in their security mechanism analysis that this move could also revive and recover those dormant SOL (dormant SOL, totaling hundreds of millions of tokens) that have been inactive for years. This not only reduces the cost for users but also does not compromise network security, effectively clearing a major obstacle for ecosystem expansion.

Honestly, if they can really bring down the account creation cost to such a low level, it will significantly boost attractiveness for developers and users.