Marinade Finance is a decentralized liquid staking protocol on Solana, enabling users to stake SOL in exchange for liquid staking tokens (mSOL) that can be utilized across various DeFi applications to optimize yields. As of November 2023, Marinade Finance ranks among the top DeFi protocols on Solana, boasting a Total Value Locked (TVL) of over $496 million (per DefiLlama).
What is Marinade Finance?
Marinade Finance is a decentralized liquid staking protocol built on Solana. It allows users to stake SOL and receive mSOL (Marinade’s liquid staking token), which can be leveraged for lending, borrowing, trading, or further staking across Solana’s DeFi ecosystem.
Key Features:
- No Lock-up Periods: Users can unstake SOL anytime.
- Auto-Rebalancing: Automatically optimizes validator delegations for maximum yields.
- Dual Staking Options: Supports both Liquid Staking (mSOL) and Native Staking (direct validator delegation).
Marinade Finance Products
1. Liquid Staking
- Stake SOL → Receive mSOL (1:1 ratio).
Use Cases:
- Trade mSOL on DEXs (e.g., Raydium, Orca).
- Supply to lending protocols (e.g., Solend).
- Earn compounding rewards without manual management.
2. Native Staking
- Directly delegate SOL to 150+ validators on Solana.
Advantages:
- Lower risk (no reliance on mSOL price).
- Choose validators based on APY preferences.
- Full control over staked SOL (unstake anytime).
Liquid Staking vs. Native Staking
| Feature | Liquid Staking (mSOL) | Native Staking |
|-----------------------|----------------------|----------------|
| Liquidity | ✅ (Tradeable) | ❌ |
| Yield Source | mSOL appreciation | SOL rewards |
| Validator Choice | Automated | Manual |
Marinade Finance Highlights
- Zero Fees: No charges for staking/unstaking.
- Validator Diversity: Access to 150+ validators with competitive APYs.
- DAO Governance: MNDE holders vote on protocol upgrades via Marinade DAO.
MNDE Token Overview
| Metric | Details |
|---------------------|------------------------------------------|
| Token Name | Marinade (MNDE) |
| Blockchain | Solana (SPL standard) |
| Total Supply | 1,000,000,000 MNDE |
| Circulating Supply | 237,246,883 MNDE (Nov 2023) |
| Use Cases | Governance, staking rewards |
Token Allocation
- 76%: Staking & LP incentives
- 20%: TVL milestones
- 4%: Marketing
FAQs
1. How do I stake SOL on Marinade Finance?
- Connect a Solana wallet (e.g., Phantom), deposit SOL, and choose between Liquid or Native Staking.
2. Where can I trade MNDE?
- CEXs: Coinbase, Gate.io.
- DEXs: Raydium, Orca.
3. What’s the APY for staking?
- Dynamic; depends on Solana’s network rewards (~5–7% for Native Staking).
4. Is Marinade Finance audited?
- Yes, by reputable firms like OtterSec.
Roadmap & Team
- Team: Led by co-founder Lucio Tato and Core Contributor Michael Repetný.
- Partners: Chainlink, Saber, Hubble Protocol.
Conclusion
Marinade Finance offers flexible staking solutions for SOL holders, combining liquidity (via mSOL) and security (through Native Staking). Its DAO-driven governance and validator diversity make it a standout in Solana’s DeFi landscape.