Marinade
Marinade Finance is a non custodial liquid staking protocol built on Solana.
Marinade Finance
Marinade Finance was made to solve the problem of locking up your funds when you stake Solana. Marinade solves this problem by letting you stake your SOL without locking it up. And the user receives mSOL (marinated SOL) tokens in return for their stake which can be swapped backed to SOL or used in DeFi for other purposes.
Marinade Finance specialties:
- Full control over your tokens
- Open source, completely permissionless delegation formula
- Unlock your stake, receive a tokenized version of your position, and use it to trade in DeFi or swap back to SOL
- Stake and delayed unstake with no charge, unstake can be instant with a small fee
- 2% fee on your rewards -- the smallest on the market
- Contributor driven governance and native Solana community
Things that can be done with marinade other than staking:
- Explore additional DeFi yields on top of staking using your tokenized stake positions.
- Earn your position in the Marinade DAO and participate in governance by using Marinade.
MarinadeDAO
A user can join MarinadeDAO, or mDAO by owning the Marinade governance Token (MNDE). And the user can vote on important decisions with the governance token.
Another way a user can have governance of MarinadeDAO is by getting a Marinade NFT, which can be received by locking up their MNDE tokens.
MNDE Tokenomics
The supply of MNDE Tokens is currently allocated as such:
- 35% - DAO Distribution. Used as token holders see fit via proposals, initially used for Liquidity Mining programs.
- 35% - DAO Treasury. This is a treasury reserve to be used for operations, grant programs, and strategic partnerships. This treasury is controlled by Marinade's multisig and will be unlocked and governed by MNDE holders.
- Besides this reserve, the treasury also receives mSOL protocol fees:
- 2% of staking reward fees generated by Marinade protocol
- 25% of liquid unstake fees generated by the Unstake liquidity pool
- Besides this reserve, the treasury also receives mSOL protocol fees:
- 30% - Team. This is an allocation for current and future contributors. The distribution has not started yet and those funds are currently controlled by Marinade's multisig.
The total supply of MNDE tokens is 1,000,000,000 MNDE.