After SIMD-228 Flop, Galaxy Proposes MESA Voting Framework to Guide Solana Emissions Decisions

Galaxy Research has introduced a novel "market-driven" voting system to reform Solana’s inflation mechanism, proposing a method that moves beyond binary choices and seeks to better reflect the community's nuanced preferences.

Background

• Following the controversial rejection of Solana’s SIMD-228, a proposal aimed at introducing a dynamic, deflationary emissions curve, Galaxy Research has pitched an alternative mechanism to reshape how token issuance decisions are made.
• The new model, called Multiple Election Stake-Weight Aggregation (MESA), is designed to enable validators to vote across a range of potential outcomes, as opposed to the limited yes/no/abstain framework.
• The goal is to provide a more representative view of community sentiment by calculating a weighted average of preferences based on stake distribution.
• SIMD-228 had attracted one of the highest voter turnouts in Solana governance history but failed to pass due to a lack of consensus on a singular option.
• Many in the ecosystem acknowledged that a change to the current inflation structure was warranted, but the binary voting structure constrained the collective ability to identify middle-ground solutions.
• The current model sets Solana's inflation at 8% initially, gradually decreasing by 15% annually until it hits a floor of 1.5%. At present, inflation stands at 4.6%, with nearly 65% of the total supply staked.

Why should you pay attention?

• This proposed shift could mark a pivotal moment in how major blockchain protocols approach governance and tokenomics.
• If adopted, MESA might serve as a model for other Layer-1 chains seeking to refine onchain decision-making processes.
• Additionally, it reignites the conversation around Solana's economic sustainability, validator incentives, and network security, all crucial factors for long-term value.

Who said what?

• Galaxy Research explained the rationale behind MESA, stating:

"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."

• Max Resnick, lead economist at Solana-focused Anza, expressed skepticism over MESA’s practical implementation:

“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?”

• He further noted that participants may vote strategically rather than truthfully, skewing results. However, Resnick still welcomed the effort to broaden the voting spectrum, stating:

“Yes/No voting forces people into separate camps which creates unproductive conversations.”

• Solana Labs co-founder Anatoly Yakovenko offered an alternative approach, suggesting:

“Pretty cool. I guess the question is why not just make it median stake weighted?”

Zooming out

• As Solana’s ecosystem matures and its community demands more sophisticated governance mechanisms, MESA may represent an inflection point in blockchain decision-making.
• While it is still under review and may face further technical and philosophical scrutiny, it reflects a growing appetite for participatory governance and tokenomics reform.

Other Related Read/Listens

• SIMD-0228: The Proposal That Could Make or Break Solana’s Economy
• Solana’s Bold Inflation Plan Rejected—Validators Vote to Keep Token Emissions Unchanged
• Solana Faces Backlash Over 'Insensitive' Ad—Deletes It Within Hours