Galaxy Digital Submits Proposal For New Solana Voting System To Reduce Inflation
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Galaxy Research has put forward a proposal to adjust the voting system that determines the outcome of future Solana inflation with the aim of bringing down inflation rates.
Galaxy introduced the proposal, titled, “Multiple Election Stake-Weight Aggregation (MESA)” yesterday. According to the researchers, this proposal is a “more market-based approach to agreeing on the rate of future SOL emissions.”
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Galaxy Digital Pushes For A Weighted Average Approach In Solana Voting
Currently, the Solana network uses a traditional yes/no voting system to determine inflation rates.
In Galaxy’s proposed voting mechanism, validators will be able to vote on multiple deflation rates. The weighted average of these votes is then used as the outcome.
Galaxy’s proposal follows the SIMD-228 proposal, which pitched the idea of changing Solana’s inflation system from a fixed schedule to a more dynamic and market-based model. SIMD-228 also showed Solana community members agree that SOL inflation should be reduced.
Solana Surpasses All Other Chains In 7-Day DEX Volume As Meme Coin War Heats Up
While Galaxy waits to see if its SOL inflation proposal will be accepted, Solana has overtaken all other blockchains in 7-day decentralized exchange (DEX) volume.
Data from DefiLlama shows there was a more than 14% weekly change in Solana’s DEX volume, pushing the total activity to over $16.147 billion. During the same period, leading competitor Ethereum saw activity on its platforms drop more than 32%.
The surge in Solana DEX activity over the past week could have to do with the SOL meme coin war between Raydium and Pump.fun.
Recently, Pump.fun severed its ties with Raydium, a popular Automated Marker Maker (AMM), and launched a competing DEX called PumpSwap. Raydium then went on to launch its own meme coin creation platform called LaunchLab.
🔥 PumpSwap on @pumpdotfun has consistently hit all-time high trading volumes lately!
Some of the top tokens behind the surge over the past 7 days:$RFC | @RFindercoin$DARK | @darkresearchai
$memecoin $pppp $FUR$DB | @DBCOIN_SOL$REFI | @RetardedFinance$House |… https://t.co/ludq5ucik3 pic.twitter.com/qKUMk2OcLH— Solana Daily (@solana_daily) April 18, 2025
Pump.fun and Raydium recorded respective weekly increases in DEX volume of 46% and 37%.
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