Galaxy Research has unveiled a new governance model for Solana that could redefine how inflation decisions are made within the network. The proposal, titled Multiple Election Stake-Weight Aggregation (MESA), was introduced on April 17 and aims to replace Solana’s current binary voting system with a more representative, data-driven approach.
A Response to the Failure of SIMD-228
The MESA proposal was sparked by the community’s inability to pass SIMD-228, a recent initiative aimed at shifting Solana’s inflation schedule from a fixed model to a market-driven one. While most stakeholders supported reducing inflation, the rigid Yes/No vote didn’t allow compromise on specifics, stalling any progress.
Galaxy’s MESA framework introduces a flexible voting system where validators can allocate their stake across several inflation options, instead of being forced to vote “yes” or “no” on a single proposal. This system then calculates a weighted average based on those votes to determine the final inflation rate.
How MESA Works: From Voting Binary to Weighted Consensus
Rather than asking validators to pick just one proposal, MESA lets them support multiple deflationary targets. Each vote contributes to a weighted average that determines the final outcome, offering a more accurate reflection of community sentiment.
For example, if 5% of validators support no change (15% deflation), 50% vote for a 30% deflation rate, and 45% choose 33%, the final decision would average out to a 30.6% deflation rate. This dynamic approach keeps governance agile while aligning with the long-term goal of reducing Solana’s inflation to a terminal rate of 1.5%.
Balancing Flexibility With Predictability
Galaxy Research emphasizes that MESA doesn’t mandate a specific inflation target. Instead, it enables a transparent and adaptive model where community sentiment shapes the trajectory of Solana’s monetary policy. This strikes a balance between market-driven decision-making and the need for economic predictability.
Solana’s current inflation structure starts at 8% annually and decreases by 15% each year until it reaches a fixed terminal rate of 1.5%. As of now, the network’s inflation rate sits at 4.6%. According to Solana Compass, roughly 64.7% of SOL’s total supply – about 387 million tokens – is staked, underscoring the high level of validator participation and influence.
Why MESA Could Be a Turning Point for Solana
The traditional binary governance model may have worked during Solana’s early growth phase, but as the ecosystem matures, so do its needs. MESA introduces a more nuanced, consensus-based approach to economic governance, aligning with the evolving expectations of the community.
Galaxy Research isn’t imposing a vision but offering a tool. Their proposal allows for complex decisions to be made through collaborative weight, not confrontation. Backed by its active role in Solana’s staking and validation ecosystem through Galaxy Strategic Opportunities, the firm is positioned to guide implementation while staying deeply rooted in community interests.
A New Model for Decentralized Economic Governance
If adopted, MESA could mark a major shift in how decentralized networks like Solana handle monetary policy. Instead of forcing a binary choice, this model promotes a broader, stake-weighted consensus, one that reflects real validator preferences and community direction.
With Solana continuing to gain traction as a leading Layer 1 blockchain, innovations like MESA may not just improve internal governance, they could also set a precedent for decentralized decision-making across Web3.
