Daniel Walker
Galaxy Research has introduced a novel approach to reshape how the Solana community votes on token emissions, presenting a new framework called MESA (Multiple Election Stake-Weight Aggregation). Unlike traditional yes/no/abstain voting structures, MESA enables validators to express preferences across a range of options, effectively capturing nuanced community sentiment about the future of SOLโs inflation rate.
Instead of pursuing single proposals and hoping one sticks, Galaxy argues that itโs more efficient to gather broad community input all at once and determine a final outcome using weighted averages based on stake.
MESA as a Response to Failed Emissions Proposal SIMD-228
This new mechanism comes on the heels of the failed SIMD-228 vote โ a dynamic, deflationary emissions model that, despite record voter turnout, was rejected due to a divided community. Galaxy asserts that SIMD-228โs downfall stemmed from its binary voting limitations, which failed to capture varying degrees of support within the ecosystem.
In contrast, MESA retains Solanaโs current emissions model โ which reduces inflation by 15% annually, aiming to reach a 1.5% target rate over time โ while introducing a more flexible and inclusive method of community decision-making.
Currently, Solanaโs inflation rate is 4.6%, with nearly 65% of tokens staked, according to Solana Compass.
Debate Over Strategic Complexity and Manipulation Risks
While Galaxyโs idea aims to promote a market-driven and participatory governance model, it hasnโt gone unchallenged.
Max Resnick, lead economist at Solana development firm Anza, raised concerns about the strategic voting behavior MESA might encourage. He noted that voters may be incentivized to choose extreme values to shift the average toward their ideal outcome, instead of voting their true preference.
Despite the criticism, Resnick agreed that offering a wider range of voting choices could help prevent divisiveness within the community. He also reaffirmed his support for dynamic issuance models, stating that adaptive inflation curves are better suited for balancing security and cost during volatile market periods.
Solana Leadership Chimes In
Adding another perspective, Solana Labs Co-founder Anatoly Yakovenko suggested that rather than using a stake-weighted average, a stake-weighted median might be a more effective solution โ minimizing the impact of outlier votes while still reflecting the will of the majority.
