Galaxy Proposes Market-Driven Voting System for Solana Token Emissions After SIMD-228 Debate

Galaxy Introduces MESA Proposal to Refine Solana’s Emissions Voting Process

In the wake of the community’s rejection of Solana Improvement Document 228 (SIMD-228), Galaxy Research has put forward a novel voting framework called Multiple Election Stake-Weight Aggregation (MESA). This system aims to modernize how Solana community members decide on the network’s token emission policies.

Rather than sticking with a binary “yes/no/abstain” model, MESA would allow validators to express their preferences across a spectrum of inflation rate proposals. If enough validators agree in principle that a change is needed, the final outcome would be determined by calculating the weighted average of all supported options.

Galaxy argues that this more nuanced approach offers a better reflection of collective sentiment. "Instead of throwing darts until the community is happy with an individual proposal, it is more efficient to simply ask each person what they want and settle on the aggregate," the firm noted in its research.

This comes after SIMD-228, which proposed a dynamic deflationary model that adjusts SOL issuance based on staking levels, failed to pass despite record voter turnout. The defeat highlighted a growing consensus that the current inflation schedule may be too generous, especially in light of ongoing concerns about overpaying for network security. However, the proposal’s binary vote format left little room for compromise, leading to a polarized outcome.

Currently, Solana operates under a disinflationary model that starts at an 8% inflation rate, with a 15% annual reduction targeting a long-term rate of 1.5%. As of now, Solana’s inflation stands at approximately 4.6%, with nearly 65% of tokens staked, according to data from Solana Compass.

While MESA seeks to keep this emission structure intact, it adds a mechanism for more representative community decision-making.

However, not everyone is convinced the new system will be straightforward. Max Resnick, lead economist at Anza, a Solana-focused development firm, expressed skepticism over MESA’s practical implications. He warned that voters might attempt to game the system by voting at extremes to pull the average toward their ideal outcome.

“Suppose I believe the best policy is 25% a year — how should I vote to make the resulting policy as close to 25% as possible?” Resnick posed in a public comment.

Despite his reservations, Resnick supports the principle of expanding voter choice. “Yes/No voting forces people into separate camps which creates unproductive conversations,” he explained, noting that broader options can reduce polarization and foster consensus-building.

Solana Labs Co-founder Anatoly Yakovenko also weighed in, suggesting a slight modification to Galaxy’s proposal. Instead of using the weighted average to determine the final emission rate, Yakovenko advocates for using the median stake-weighted value to avoid extreme skewing.