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Galaxy Proposes "Market-Driven" New Voting System for Solana in Response to Community Discontent After the Failure of SIMD-228

Galaxy Proposes "Market-Driven" New Voting System for Solana in Response to Community Discontent After the Failure of SIMD-228

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ForesightNewsForesightNews2025/04/18 14:38

According to The Block, Galaxy Research has proposed a new initiative called MESA (Multiple Election Stake-Weight Aggregation) that aims to determine Solana's future inflation/deflation curve in a more market-driven manner, replacing the current binary voting system. This proposal allows validators to express preferences across multiple options based on weight, which would determine the final deflation rate according to the weighted average.

 

This move is in response to the failure of the previous SIMD-228 proposal. SIMD-228 suggested dynamically adjusting SOL's inflation rate based on the stake participation rate, but despite setting a record for voting participation, it was not passed due to severe differences in opinion. Galaxy pointed out that the current "for/against" binary mechanism fails to accurately reflect the true preferences of the community.

 

Currently, Solana's initial annualized inflation rate is 8%, decreasing by 15% annually, with a target inflation rate of 1.5%. According to Solana Compass, the current inflation rate is 4.6%, and 64.7% of the supply has been staked. However, Max Resnick, the chief economist of Solana development team Anza, expressed concern that MESA could lead voters to vote in extremes to manipulate the average result, thus introducing more complexity to operations. He also continues to support the dynamic issuance curve mechanism proposed by SIMD-228.

 

Anatoly Yakovenko, co-founder of Solana Labs, suggested using the median stake weight instead of the average as the calculation method for final results, which might better avoid extreme manipulation.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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