Solana liquid staking platform that lets users earn passive yield on SOL tokens.
Launched in 2021, Solana-based Marinade Finance is a liquid staking platform that enables users to earn yield on SOL tokens. Users can stake SOL to secure the Solana network and keep it decentralized, and receive marinated SOL or mSOL in return. Users’ mSOL holdings increase as the underlying SOL collects staking rewards. Marinade users can also use mSOL across the Solana ecosystem and stake them for additional yield or swap them for SOL at any time. The Marinade ecosystem is governed by a DAO using the MNDE token, which can be locked to mint Chef NFTs that are used to vote. As of November 2022, there are over 450 validators on Marinade's network.
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