- Galaxy’s MESA proposal lets Solana validators vote periodically, using median outcomes to set a fixed deflation rate.
- Unlike SIMD-228’s single dynamic vote, MESA opts for multiple votes to lock in predictable SOL supply cuts.
Galaxy, a digital asset firm, has introduced a revised proposal to adjust Solana’s inflation rate, following the rejection of a similar plan (SIMD-228) in March. The new model, dubbed Multiple Election Stake-Weight Aggregation (MESA), seeks to determine SOL’s future token issuance through periodic voting by validators. Unlike the prior single-vote approach, MESA would aggregate median outcomes from multiple rounds of voting to set a fixed deflationary path.
We just introduced a new Solana proposal called Multiple Election Stake-Weight Aggregation (MESA) to reduce SOL inflation: a more market-based approach to agreeing on the rate of future SOL emissions.https://t.co/mcVdkRiM8y
— Galaxy Research (@glxyresearch) April 17, 2025
Under MESA, validators—operators who stake SOL to secure the network—would cast votes at regular intervals. The median result would dictate the annual reduction in SOL supply. This contrasts with SIMD-228, which proposed a one-time vote tied to staking demand. Galaxy’s model opts for predictability, locking in a deflation rate regardless of shifts in staking activity.
This is an interesting Solana Inflation Reduction proposal. There are a couple of issues to work through:
1. This voting mechanism incentivizes gaming. For example, if I think the market would reduce inflation by X but I want to reduce inflation more aggressively, then I am… https://t.co/7Hr8HcLM4a
— Tushar Jain (@TusharJain_) April 18, 2025
The SIMD-228 Plan was a March 2024 proposal to reduce Solana’s (SOL) annual inflation rate by 80%. It aimed to adjust SOL token issuance through a dynamic mechanism tied to staking demand (the amount of SOL locked in the network). Unlike Galaxy’s current MESA proposal, SIMD-228 required a single vote where validators would set a decreasing inflation curve based on staking activity.
The plan was rejected by key stakeholders, including validators and large SOL holders
Critics like Tushar Jain of Multicoin Capital argued that the model failed to address real staking demand and could create long-term uncertainty. Others noted that an abrupt 80% cut in SOL issuance might disrupt economic incentives for validators, who rely on token rewards to secure the network.
After its rejection, discussions continue on how to lower SOL’s current 5% annual inflation without harming network security or investor appeal. SIMD-228 set the stage for follow-up proposals like MESA, which explore alternative methods to manage SOL’s token supply.
Reactions from industry figures have been divided
Tushar Jain, co-founder of Multicoin Capital, which backed SIMD-228, raised concerns about potential manipulation and complexity. He noted that frequent votes might overwhelm stakeholders unaccustomed to active governance. “A single vote is simpler for most,” Jain stated. Others warned the model could deter investors wary of fluctuating inflation policies.
Solana co-founder Anatoly Yakovenko called the proposal “cool” but suggested weighting votes by stake size to reflect validator influence. Currently, Solana’s inflation rate sits at 5% annually, with a long-term target of 1.5%. The network aims to reduce issuance by 15% each year, but consensus on implementation remains unresolved.
I also think that it adds uncertainty which is something institutions don’t want.
— Max Resnick (@MaxResnick1) April 18, 2025
The March rejection of SIMD-228 highlighted challenges in balancing supply control with stakeholder preferences. Critics argue high inflation dilutes SOL’s value, yet alternative solutions have struggled to gain traction. Galaxy’s latest pitch introduces a structured, if contentious, framework—testing whether predictability can align a fragmented community.
Solana (SOL) is currently trading at $133.40, showing a minor 1.08% daily decline, though it’s up a solid 18.25% over the past week. Despite the short-term recovery, SOL is still down 29.40% year-to-date and 16.54% over the past six months, reflecting the broader altcoin market pressure.
After bouncing from its March lows, Solana is now attempting to reclaim critical resistance in the $132–$135 zone—a level that must be broken for a true trend reversal.
From a technical standpoint, SOL is moving in a channel of lower highs, but the recent surge above $130 suggests early signs of strength. If bulls can push past $135 and close above $140, it could trigger momentum toward the next key resistance at $150.
A confirmed move above $150 would mark the end of the downtrend and open up targets at $165 and $180. On the flip side, a rejection at current levels could send the price back to retest the $120–$125 support zone, which remains a key level for buyer interest.
