Solana Considers MESA to Tackle SOL Inflation

Key Takeaways
Solana is once again at the centre of discussions around inflation control for its cryptocurrency SOL. After the failure of proposal SIMD-228 in March 2025, the company Galaxy is now introducing an alternative model: MESA (Multiple Election Stake-Weight Aggregation). The goal is to make the issuance of new coins more market-driven. However, not all stakeholders are convinced.
Background: Why SOL Inflation Is a Problem
Currently, Solana’s inflation rate sits at approximately 5% per year. This means 5% new SOL tokens are generated annually. In the long term, the network aims for an inflation rate of 1.5%. To reach this target, a disinflationary curve with a 15% annual reduction is planned. Critics argue that too much inflation dilutes the value of the tokens and discourages investors.
The New Proposal: MESA as a Voting Model
With MESA, Galaxy is proposing a new approach based on repeated voting. Validators—network participants who stake SOL and maintain security—would regularly vote on different inflation rates. The median of these votes would then be adopted as the valid inflation rate.
Unlike the previous SIMD-228 proposal, which involved a one-time vote, MESA relies on a more dynamic but also more complex process. Additionally, MESA is not based on staking demand but follows a fixed deflationary curve.
Criticism: Complexity and Uncertainty
Tushar Jain, co-founder of MultiCoin Capital and supporter of the rejected SIMD-228, expressed criticism. In his opinion, MESA increases the burden on validators, as they would need to regularly vote on inflation rates. Many investors may not be willing to constantly engage with such decisions. Furthermore, the model could be vulnerable to manipulation and foster uncertainty within the network.
Other voices from the community fear that such a process could unsettle investors and make long-term planning more difficult.
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Support and Reactions
Anatoly Yakovenko, co-founder of Solana, described the proposal as “interesting” and suggested that voting should be stake-weighted. This means that votes from validators with more staked SOL would carry more influence.
While opinions on the proposal vary, a look at on-chain data shows that so-called “whales”—large investors—have recently increased their positions in SOL. If this trend continues, the price could move toward 150 US dollars.
Our Assessment
The debate around inflation policy in Solana highlights how difficult it is to strike a balance between stability, market mechanisms, and governance. MESA introduces interesting concepts, such as greater involvement of validators and market-oriented decision-making. At the same time, it increases complexity for participants, which could lead to lower engagement and greater uncertainty.
Whether the new model will prevail depends on whether it can gain broad support among stakeholders. As a user or investor, it remains important to closely monitor these developments—because inflation policy has a direct impact on the value of your SOL holdings.
Sources
- Hyblock