Galaxy proposes a new consensus approach to the Solana inflation debate

PANews reported on April 18 that Galaxy Research submitted a new proposal to the Solana community to reform the network’s inflation governance discussions through a method called Multiple Election Staking Weight Aggregation (MESA). The mechanism seeks to introduce a market-driven process to optimize the SOL emissions curve without relying on a single outcome vote. The proposed approach would not change Solana’s ultimate goal of achieving a final inflation rate of 1.5%, but could significantly shorten the timeline for achieving that goal, depending on the results of the community vote. According to Galaxy’s forecast, if the current deflation rate of 15% is maintained, the network will reach the final inflation rate at epoch 2,135. Raising the deflation rate will bring this point forward. In the current Solana system, inflation follows a fixed, time-dependent curve with the goal of achieving a final inflation rate of 1.5%. However, Galaxy noted that previous votes have shown that while inflation is generally higher than necessary, there are challenges in reaching consensus on adjusting parameters. Galaxy’s new proposal provides an alternative for validators to choose from multiple predetermined deflation rates, with the results determined by a weighted average of those votes. Instead of dynamically adjusting inflation based on real-time indicators, the MESA vote will enforce a fixed disinflationary trajectory that, once approved, will adjust the deflation rate based on the collective opinion of validators.