Rethinking How Solana Adjusts Inflation
Galaxy Digital has unveiled a fresh governance proposal that could reshape how the Solana blockchain adjusts its token inflation. The plan introduces a more flexible and inclusive voting method, addressing concerns raised during recent governance efforts.
MESA: A New Model for Voting
At the heart of the proposal is MESA, short for Multiple Election Stake-Weight Aggregation. This innovative system replaces the typical binary voting format with a range-based approach. Instead of a simple “yes” or “no,” validators can choose from a set of predefined deflation rates—such as 15%, 20%, or 25%.
Here’s how it works:
- Each validator casts a vote for their preferred rate.
- The network calculates a weighted average based on the staked voting power.
- The final decision reflects a blend of community sentiment rather than a win/lose outcome.
By gathering a broader spectrum of input, MESA aims to deliver more balanced outcomes and avoid polarizing decisions.
What Sparked the Change: SIMD-0228
This proposal comes in response to the recent SIMD-0228 initiative, which suggested slashing Solana’s inflation rate by up to 80%. While participation was high—over 74% of voting power took part—the plan was ultimately voted down.
Critics expressed concern that such drastic cuts could harm smaller validators who depend on staking rewards for sustainability. The rejection highlighted the need for a more sophisticated voting framework that takes into account diverse stakeholder interests.
Galaxy Digital is now encouraging open discussion on the MESA proposal. Key points up for debate include how votes should be distributed and what quorum thresholds should look like. While Galaxy has a clear interest in Solana’s long-term success, the firm stresses that the proposal itself doesn’t advocate for any specific deflation rate.
