Galaxy proposes new consensus approach to resolving Solana inflation debate
On April 18, Galaxy Research submitted a new proposal to the Solana community to reform the network's inflation governance discussions through an approach called Multiple Election Pledge Weight Aggregation (MESA). The mechanism attempts to introduce a market-driven process to optimize the SOL emission curve without relying on a single outcome vote. The proposed approach would not change Solana's final goal of achieving a final inflation rate of 1.5%, but could significantly shorten the timeline for achieving that goal based on community voting. According to Galaxy's forecast, if the current deflation rate of 15% is maintained, the network will reach the final inflation rate at epoch 2,135. Increasing the deflation rate will bring this point forward. In the current Solana system, inflation follows a fixed, time-related curve, with the goal of achieving a final inflation rate of 1.5%. However, Galaxy pointed out that previous votes showed that despite widespread belief that inflation was above necessary, reaching consensus on adjusting parameters faced challenges. Galaxy's new proposal provides an alternative that allows verifiers to choose from multiple predetermined deflation rates, with the results determined by a weighted average of those votes. The MESA vote will not dynamically adjust inflation based on real-time indicators, but will impose a fixed anti-inflation trajectory, with deflation rates adjusted based on the collective opinion of the validators once approved.
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