Proposal 346 would authorise a 1:1 SPL AKT on Solana
Proposal 346 would authorise 1:1 SPL AKT on Solana after audits, via a two-year one-way portal. The akashnet-2 vote was still open; cutover needs a later vote.
Proposal 346 is still inside its voting period on akashnet-2, and a yes would authorise a token path rather than a finished migration. Akash Network would launch AKT as a 1:1 Solana Program Library (SPL) token on Solana (SOL) after the token and portal audits, and would open a one-way portal for two years. Live leases, staking and governance stay on the Cosmos chain until a later cutover vote.
At 07:29 UTC on November 2, 2026, the akashnet-2 proposal object returned PROPOSAL_STATUS_VOTING_PERIOD, ending at 15:02:58.472669519Z, seven days after the October 26, 2026 start. The final tally field was 0 for yes, no, abstain and no with veto. The live tally, read in the same minute, had already cleared the 33.40% quorum of bonded stake, which is why a screenshot can look settled while the status field still shows the period open.
What Proposal 346 would authorise
The on-chain summary asks AKT stakers to approve a move from akashnet-2 to Solana mainnet under AEP-79 and the Akash Chain Migration Program. A yes approves that plan and authorises an SPL launch once the token and portal audits are complete, expected two to three weeks after passage. Liquid AKT would arrive 1:1 as SPL AKT with six decimals, and staked AKT would arrive after 21 days of unbonding, with both leaving akashnet-2 so total supply stays unchanged. Until cutover, AKT on akashnet-2 still pays gas, earns staking rewards and votes.
A yes leaves the cutover date to a later proposal, so leases, staking and governance continue on akashnet-2 until audits, rehearsals and that vote have passed. Staking rewards end at cutover, and validator income ends at halt, 90 days later, with pre-cutover refunds paid weekly in SPL AKT. Four items stay unpublished until the cutover vote: access for AKT left on akashnet-2 at halt, AKT unmigrated after two years, the emissions curve and the validator continuity payout.
What the October 26 report adds
Greg Osuri, in the October 26, 2026 report the proposal cites, wrote: "Cutover has no date yet: a separate governance vote sets it only after audits and migration rehearsals pass." The report asked for at least two further votes, a cutover proposal and a sunset upgrade, while the chain text puts launch at two to three weeks rather than the report's two weeks, with two independent audits required in both. AEP-79 opened on December 15, 2025, and on August 10, 2026 Overclock Labs weighed seven options against 15 hard requirements. Only Solana mainnet and an existing Ethereum Virtual Machine (EVM) Layer 2 (L2) cleared every bar.
About 100 validators bond AKT only to secure consensus, and the proposal says Solana security would be inherited with no bonding requirement, no SOL stake and no revenue share, at about 0.075 SOL a day in marketplace fees. Proposal designs price an operation about nine times less than on an EVM L2 on a calm day and about 300 times less under load. The Solana Foundation's engineering, audit and gas-subsidy support is optional. Akash would give up sovereign consensus, validator income, native Inter-Blockchain Communication (IBC) and live slashing under SIMD-0212. Exchanges migrate customer balances on their own schedule.
Where the interim tally stood
At 07:29 UTC on November 2, 2026, the tally showed 59,244,534.43 AKT as yes, 797,761.06 AKT as no, 909,287.03 AKT abstaining and 765.29 AKT as no with veto, converting uakt at six decimals. The staking pool showed 88,595,314.74 AKT bonded. Votes cast were 60,952,347.82 AKT, or 68.80% of bonded stake, against a 33.40% quorum of 29,590,835.12 AKT. Yes was 98.67% of the non-abstain total, above the chain's 0.50 pass threshold. Those ratios describe 07:29 UTC, with the final tally field still zero.
What follows if the period closes
A yes majority above quorum would open token-launch work and a provider testnet of at least six weeks with 25 or more operators before the cutover proposal sets the instant. IBC partners get 60 days' notice, and re-registration opens 30 days before cutover. A no vote keeps the token unlaunched and returns the program to option analysis. For exchanges, custodians and tenants, the near-term object is the SPL record and the portal, while leases and staking rewards stay on akashnet-2 until that later vote names a cutover instant. Readers comparing how assets arrive on Solana can set that sequence beside DGLD's one-ounce gold listing, Spout's lending beta that stayed off mainnet, and the 4,096-byte transaction rule that still governs what a Solana program can send.
This article is informational analysis only and is not financial, investment, or trading advice. Cryptocurrencies are highly volatile and can lose substantial value rapidly. Past performance and historical patterns do not guarantee future results. Do your own research and consult a regulated financial adviser before making any investment decision.
Reporting by Karthik Subramanian. Filed 2 November 2026, 07:41 GMT.
Digital Assets Correspondent
Karthik Subramanian is a founder, writer, and technology consultant with nine years in the crypto ecosystem.
