DL News • May 02, 24
LayerZero airdrop timing just got clearer
In December, LayerZero said it planned to launch and distribute its token “within the first half of 2024.”
Read more
Create a Coinbase account to buy and sell Marinade on the most secure crypto exchange.
MNDE is the governance token of Marinade.Finance, a liquid and native staking protocol on Solana. Users lock MNDE in Realms SPL governance to participate in voting, control the DAO treasury, and can direct stake to validators using locked MNDE. The Marinade DAO oversees various aspects of Marinade.Finance’s development, including the staking delegation strategy.
Marinade (MNDE) is a staking protocol built on the Solana blockchain. It provides users with the ability to stake their SOL tokens using an automated strategy developed by the Marinade core team. Users have the option to stake natively or liquid stake to a pool of selected Solana validators. When opting for liquid staking, users receive an equivalent value of "marinated SOL" tokens (mSOL) that can be utilized in decentralized finance (DeFi). The protocol also gives users the opportunity to tokenize their existing stake, converting it to mSOL for liquidity. The MNDE token allows holders to participate in the protocol's governance, influencing decisions such as the DAO's fees, treasury, and validator selection.
Marinade operates by enabling users to stake their SOL tokens using an automated strategy. When a user stakes their SOL tokens, they are contributing to the security and decentralization of the Solana network. In return, they receive compensation in SOL. Users can choose to stake natively or liquid stake. When liquid staking, users receive an equivalent value of "marinated SOL" tokens (mSOL) that can be utilized in DeFi. The price of mSOL increases relative to SOL each epoch with Solana inflation rewards being accrued into the underlying staked SOL in the Marinade stake pool. Users can also tokenize their existing stake, converting it to mSOL for liquidity.
Marinade strives to provide users with the ability to stake their SOL tokens in a manner that contributes to the decentralization of the Solana network. This helps to secure the Solana network and contributes to its decentralization. Users can stake natively or liquid stake, receiving mSOL tokens that can be utilized in DeFi. This allows users to continue participating in DeFi activities while still enjoying the benefits of staking. Additionally, the MNDE token allows holders to participate in the protocol's governance, influencing decisions such as the DAO's fees, treasury, and validator selection.
Marinade was established through Solana ecosystem grants at the Solana Hackathon in 2021 and launched its liquid staking protocol and mSOL liquid staking token on mainnet in August of the same year. The MNDE governance token was minted on November 7, 2021, as a fair-launch token with no ICO (Initial Coin Offering). Marinade has implemented on-chain DAO governance. Since then, all decisions related to the treasury have been voted on chain. In July 2023, The DAO migrated its governance platform to Realms, enabling direct control of the treasury and protocol decisions by MNDE holders.
Marinade leverages smart contracts, which are self-executing contracts with the terms of the agreement directly written into code. These smart contracts are deployed on a blockchain network, ensuring transparency and immutability. Marinade also uses staking mechanisms, allowing users to participate in the network's consensus mechanism, thereby contributing to the network's security and receiving non-monetary incentives. The platform employs a Proof of Stake (PoS) consensus algorithm, which is energy-efficient. It's important to note that Marinade seeks to offer improvements within the DeFi space by providing users with a platform to participate with their assets and receive non-financial incentives. However, the platform's capabilities may be influenced by the inherent risks and volatility of the cryptocurrency market.
Marinade strives to optimize the staking process for users. It provides a convenient way for users to validate the Solana network and receive non-monetary rewards by staking their SOL. One of the key features that sets Marinade apart is its liquid staking feature. When users stake their SOL with Marinade, they are issued mSOL tokens in return. These mSOL tokens can be used in DeFi applications, allowing users to maintain liquidity and receive additional non-monetary rewards on top of the staking rate. Another unique feature of Marinade is its instant unstaking option. This allows users to convert any amount of SOL with no prior notice, providing maximum flexibility over their holdings. Marinade also provides a dashboard to track validators on the Solana network, giving users full transparency into the platform.
Marinade, a liquid staking protocol on the Solana blockchain, addresses scalability and transaction speed by utilizing Solana's high-performance capabilities. Solana is known for its quick, scalable, and low-cost blockchain platform, which Marinade uses. The protocol employs a new, permissionless delegation strategy that allows for both native and liquid staking of SOL, Solana's native cryptocurrency. This strategy involves an algorithmic bot that stakes with over 400 validators, aiming to improve network participation. Additionally, Marinade's stake delegation strategy is designed to adjust the performance and decentralization of Solana by delegating to a large and diverse set of validators. This strategy is updated every epoch (approximately two days) to reflect changes in the validator landscape, ensuring that the protocol maintains its functionality.
Yes, there are certain costs associated with using Marinade, particularly when you opt for the liquid staking option. When you allocate your SOL tokens with Marinade and receive mSOL (marinated SOL) in return, the cost structure is as follows: there is no allocation cost, a 0% cost for delayed unstaking (provided you wait 1-2 epochs), and an instant unstake cost that varies between 0.1% and 9% depending on the total liquidity available in the Marinade pool and the amount to unstake. Moreover, Marinade charges an administration cost of approximately 0.42% per annum, which is automatically deducted from your staking incentives and represents 6% of your incentives. However, if you choose to use Marinade Native, there are no allocation, administration, or termination costs, provided you opt for delayed unstake.
Yes, Marinade has participated in several security audits related to its smart contracts. In 2021, Marinade was audited by Kudelski Security and Ackee Blockchain, both audit firms with experience in blockchain security. In 2023, Marinade upgraded its smart contract and conducted two additional audits with Neodyme and Sec3. These audits were conducted with the intention of examining the code after the upgrade. Marinade initiated a Bug Bounty Program, encouraging the community to test the protocol and acknowledging their efforts in identifying potential security issues. The audit reports and code review reports can be accessed publicly.
Marinade Finance utilizes a unique delegation strategy to delegate the staked SOL (Solana) tokens to a number of validators with a history of consistent performance. This strategy aims to provide a potentially beneficial staking yield for users while also contributing to the decentralization and censorship-resistance of the Solana network. The delegation is divided into three parts: efficiency-oriented (60% of total value locked or TVL), MNDE voting based (20% of TVL), and directed stake (20% of TVL). Every epoch, Marinade recalculates the performance score of each validator, collects MNDE votes, and rebalances the stake based on the outcomes. The process also involves monitoring commission rugs and delinquent validators and reallocating the stake when necessary. The performance score of a validator is calculated based on a variety of data including vote credits, stake, commission, version changes, data center, block production, and more. The score is a weighted average of three components: APY performance, stake concentration, and block production. Votes from MNDE holders may affect the distribution of a portion of the TVL. The delegation strategy is designed to be accessible to all validators, and the outcomes are recorded on-chain.
Marinade, a liquid staking protocol in the Solana ecosystem, is exploring ways to enhance its platform and the MNDE token. The protocol's primary goal is to decentralize Solana and Marinade itself. To achieve this, Marinade seeks to explore ways to optimize the operating costs associated with running a Solana validator, thereby facilitating a more geographically dispersed and decentralized validator set. The protocol also aims to support, bootstrap, and incentivize the growth of up to 6,000 validators in the Solana network. In terms of the MNDE token, Marinade is exploring strategies to potentially increase its total value locked (TVL). The potential increase in TVL may be influenced by factors such as mSOL utility, stake acquisition, and collective ownership. The protocol is considering migrating its operations to a DAO dashboard. This migration is intended to provide MNDE holders with the opportunity to influence protocol fees, delegation strategy, MNDE liquidity mining allocation, and the executive team.
Earn free crypto after making your first purchase. Terms apply.
Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
-
$1.2M
-
8 days
#2731
$0.68
+2.02%
+11.43%
-10.09%
DL News • May 02, 24
LayerZero airdrop timing just got clearer
In December, LayerZero said it planned to launch and distribute its token “within the first half of 2024.”
Read more
BeInCrypto • May 02, 24
These Solana Meme Coins Achieve Double-Digit Gains After Market Dip
After a market dip, Solana-based meme coins like Dogwifhat and Popcat recorded significant gains, contrasting with the modest recovery of major cryptocurrencies like Bitcoin.The post These Solana Meme Coins Achieve Double-Digit Gains After Market Dip appeared first on BeInCrypto.
Read more
CoinDesk • May 02, 24
Bitcoin’s Volatility Is Falling and This Will Continue as It Matures: Fidelity
The cryptocurrency is already showing signs of maturity as its volatility drops to all-time lows on a yearly scale, the report said.
Read more
Decrypt • May 02, 24
Second-Largest European Bank BNP Paribas Bought BlackRock Bitcoin ETF Shares: SEC Filing
According to a 13F report, BNP Paribas purchased IBIT shares in the first quarter of 2024—albeit less than 1 BTC worth at current prices.
Read more
DL News • May 02, 24
Retirees with $6tn are eyeing Bitcoin ETFs: ‘That order will just buy forever’
Pensioners have yet to buy into Bitcoin ETFs. But that's changing, says this former Merrill Lynch trader.
Read more
CoinDesk • May 02, 24
BlackRock Sees Sovereign Wealth Funds, Pensions Coming to Bitcoin ETFs
The asset manager has been helping educate pension funds, endowments and sovereign wealth funds about the new spot bitcoin ETF products, the firm's head of digital assets said.
Read more
A selection of conversions from different assets to top cryptocurrencies.
A selection of conversions for different assets and currencies.
KAVA - CLP
Kava - Chilean Peso
VTHO - NOK
VeThor Token - Norwegian Krone
FIDA - MGA
Bonfida - Malagasy Ariary
HONEY - BZD
Hivemapper - Belize Dollar
ATOM - KGS
Cosmos - Kyrgyzstani Som
VET - MRO
vechain - Mauritanian Ouguiya
MEDIA - KWD
Media Network - Kuwaiti Dinar
SUI - BAM
SUI - Bosnia and Herzegovina Convertible Mark
ORCA - MYR
Orca - Malaysian Ringgit
MSOL - MKD
Marinade Staked SOL - Macedonian Denar
ZEN - WST
Horizen - Samoan Tala
PNG - NGN
Pangolin - Nigerian Naira
Assets with the biggest change in unique page views on coinbase.com over the past 24 hours.
A selection of cryptocurrencies in the top 50 by market cap.
A selection of the most recently added cryptocurrencies.
Here is a selection of spot and futures markets that people watch
MNDE/CAD (Canadian Dollar)
CA$0.21
MNDE/JPY (Japanese Yen)
¥24.00
MNDE/INR (Indian Rupee)
₹12.94
MNDE/BRL (Real)
R$0.80
MNDE/EUR (Euro)
€0.14
MNDE/NGN (Nigerian Naira)
NGN 204.43
MNDE/KRW (South Korean Won)
₩213.10
Learn how we collect your information by visiting our Privacy Policy.
The price of Marinade has increased by 2.02% in the last hour and increased by 11.43% in the past 24 hours. Marinade’s price has also fallen by 10.09% in the past week. The current price is $0.16 per MNDE with a 24-hour trading volume of $1.23M. Currently, Marinade is valued at 77.36% below its all time high of $0.68. This all-time high was the highest price paid for Marinade since its launch.
The current circulating supply of Marinade is 0 MNDE which means that Marinade has as total market cap of 0.
We update our Marinade to USD currency in real-time. Get the live price of Marinade on Coinbase.
The current market cap of Marinade is $0.00. A high market cap implies that the asset is highly valued by the market.
The all-time high of Marinade is $0.68. This all-time high is highest price paid for Marinade since it was launched.
Over the last 24 hours, the trading volume of Marinade is $1.23M.
The current circulating supply of Marinade is 0.
The median time that Coinbase customers hold Marinade before selling it or sending it to another account or address is 8 days.
Marinade ranks 210 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
Currently, 67% of Coinbase users are buying Marinade. In other words, 67% of Coinbase customers have increased their net position in Marinade over the past 24 hours through trading.
Yes, Marinade is currently available on Coinbase’s centralized exchange. For more detailed instructions, check out our helpful how to buy Marinade guide.
Certain content has been prepared by third parties not affiliated with Coinbase Inc. or any of its affiliates and Coinbase is not responsible for such content. Coinbase is not liable for any errors or delays in content, or for any actions taken in reliance on any content. Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Coinbase makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset. Prices shown are for illustrative purposes only. Actual cryptocurrency prices and associated stats may vary. Data presented may reflect assets traded on Coinbase’s exchange and select other cryptocurrency exchanges.