Solana Community Considers New Proposal to Reform Inflation Governance

According to PANews, Galaxy Research has submitted a proposal to the Solana community aimed at reforming the network's inflation governance through a method called Multi-Election Staking Weight Aggregation (MESA). This mechanism seeks to introduce a market-driven process to optimize the SOL emission curve without relying on single-result voting. The proposed approach does not alter Solana's ultimate goal of achieving a 1.5% inflation rate but could significantly shorten the timeline to reach this target based on community voting outcomes. Galaxy predicts that maintaining the current 15% deflation rate would allow the network to reach the final inflation rate by epoch 2,135, and increasing the deflation rate could advance this timeline. In the existing Solana system, inflation follows a fixed, time-related curve with the aim of achieving a 1.5% final inflation rate. However, Galaxy notes that previous votes have shown a consensus challenge in adjusting parameters, despite a general belief that the inflation rate is higher than necessary. The new proposal offers an alternative by allowing validators to choose from multiple predetermined deflation rates, with results determined by the weighted average of these votes. MESA voting will not dynamically adjust inflation based on real-time metrics but will enforce a fixed anti-inflation trajectory once approved, with the deflation rate adjusted according to the collective opinion of validators.