What is Marinade (MNDE)?

As the Solana blockchain continues to expand, users are discovering innovative ways to interact with decentralized finance (DeFi). In efforts to make staking Solana (SOL) more accessible, flexible, and liquid, Marinade was born.

What is Marinade (MNDE)?

Marinade Finance is a non-custodial liquid staking protocol built on the Solana blockchain. This allows users to earn staking rewards while still being able to use their staked tokens across DeFi applications.

How Marinade Works

When you stake SOL through Marinade, you receive mSOL, a liquid token that represents your staked SOL and accrues staking rewards over time. You can use mSOL in various DeFi applications, including lending, borrowing, and trading, while still maintaining your staking yield.

Marinade automatically delegates the staked SOL to a diversified set of high-performing validators across the Solana network. This helps decentralize staking and strengthens the network’s resilience.

Additionally, users can convert mSOL back to SOL at any time through Marinade’s interface, either immediately via a liquidity pool or through a delayed unstake that aligns with Solana’s native unstaking period.

MNDE: The Token

The MNDE token launched in 2021 as a fair-launch token with no ICO. This ensured that everyone had an equal opportunity to access the token from the beginning.

It is used for governance within the Marinade DAO (Decentralized Autonomous Organization). MNDE holders can:

Vote on validator selection and weightings.
Influence fee structures and strategic partnerships.
Help guide the direction of protocol development and treasury use.

While MNDE does not accrue direct staking rewards, it plays an important role in shaping the future of the Marinade protocol.

Buy and Sell Marinade at iTrustCapital

If you’re interested in buying and selling Marinade (MNDE), you can do so in a tax-advantaged crypto IRA or a non-IRA Premium Custody Account at iTrustCapital.

Click here to open an account today!

*Some taxes may apply.

Categories:

Cryptocurrency

Disclaimer

This article is for informational purposes only and is not intended to constitute investment advice in any way or constitute an offer to buy or sell any digital asset, cryptocurrency, or security or to participate in any investment strategy.

iTrustCapital is a fintech software platform for alternative assets. TrustCapital is not an exchange, funding portal, custodian, trust company, licensed broker, dealer, broker-dealer, investment advisor, investment manager, or adviser in the United States or elsewhere. iTrustCapital is not affiliated with and does not endorse any particular digital asset, precious metal or investment strategy.

Investing in any digital asset or cryptocurrency (including meme coins) carries significant risks due to their speculative and highly volatile nature. Past performance is not an indication of future results. No investment is completely risk-free, and every investment carries the potential for losing some or all of the principal amount invested. Digital assets and cryptocurrencies are not legal tender backed by the United States government, nor is it subject to Federal Deposit Insurance Corporation (“FDIC”) insurance or protections. Clients do not receive a choice of custody partner.

Investors assume the risk of all purchase and sale decisions. iTrustCapital makes no guarantee or representation regarding investors’ ability to profit from any transaction or the tax implications of any transaction. iTrustCapital does not provide legal, investment or tax advice. Conduct your own research and consult with a qualified legal, investment, or tax professional to assess your own risk tolerance prior to investing.

iTrustCapital makes no representation or warranty as to the accuracy or completeness of this information and does not have any liability for any representations (expressed or implied) or omissions from the information contained herein. iTrustCapital disclaims any and all liability to any party for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising directly or indirectly from any use of this information, which is provided as is, without warranties.