- The new Marinade Native has experienced explosive growth, officially surpassing 1.5 million SOL stake, after launching in July.
- The product is the first to provide Solana stakers of any size a way to utilize the validator delegation strategy of Marinade to receive staking rewards with no fees and no smart contract exposure.
- Marinade now controls over 7.2 million SOL staked when combined with its original liquid staking token, mSOL.
Tortola, British Virgin Islands--(Newsfile Corp. - August 23, 2023) - Marinade Finance, Solana's largest staking protocol, has officially surpassed 1.5 million SOL staked to its new Marinade Native product.
Combined with mSOL, its original liquid staking token launched two years ago, Marinade now manages over 7.2 million SOL stake on behalf of its users and is the largest protocol on Solana by TVL.
Launched July 19, Marinade Native is the first product on Solana to offer a high-performance delegation strategy without smart-contract exposure. It delegates a staker's SOL to a dynamic set of over 100 high-performance Solana validators. By staking natively through the Marinade dApp, in just one transaction, users grant Marinade stake authority over their delegated SOL (but retain their withdrawal authority), and Marinade's stake bot initiates stake accounts (minimum 1 SOL) for all of the validators in the delegation strategy.
Stakers can unstake from all the validators who make up their Native position in one transaction in the dApp and claim it at the next epoch (every 2-3 days).
Marinade Native offers an opportunity for SOL stakers to put their stake on autopilot by benefitting from a high-performance staking strategy rather than having to rely on the performance of one validator. Validators can suffer downtime, server outages, or change their commissions, all of which impact node performance and staking rewards.
On the other hand, Marinade Native is always assessing validator performance and rebalancing stake each epoch to ensure a set of validators that generate staking rewards resilient to outages or any single server or location downtime.
Because of Solana's architecture and low fees, Marinade is able to create 100+ stake accounts on behalf of the user, and rebalance up to 4% of the stake each epoch. Marinade Native has no performance fees. Users only pay a one-time 0.001 SOL fee to set up their stake.
Alex Cerba, Core Contributor at Marinade said, "Marinade Native lets investors delegate their stake across the best validators and not have to worry about any one node's performance or DeFi exposure. And when they're ready to participate in DeFi, they will be familiar with Marinade's services."
Marinade Native represents a pillar of Marinade's 2.0 strategy for 2023, which includes a revamp of the Marinade dApp to be more user-friendly and all-encompassing. Stakers can now easily select between liquid staking mSOL or Native with their SOL. They may also choose to direct Marinade stake to the validator of their choice by using mSOL or their locked MNDE governance tokens. MNDE (20%) and mSOL Directed Stake (20%) account for the delegation of 40% of the combined Native and liquid stake pool SOL.
Stakers can also use Marinade's SOL liquidity router. This combines Marinade's own liquidity pool and Jupiter Exchange's connected liquid staking token liquidity to discover the lowest possible swap fees (often less than 0.1%) for instant SOL liquidity of their native stake or liquid staking token.
Any Solana user can stake with Marinade Native on the Marinade dApp in just one transaction. SOL holders who currently hold locked SOL through vesting or grants are also eligible to stake with Marinade Native.
In its first month, Marinade has received Native SOL stakes as high as over 1 million SOL from users. Solana Investors are invited to get in touch to learn how they can benefit from Marinade.
*Staking APYs change daily according to Solana epoch times and validator performance.
About Marinade
Marinade is a DAO governed by the MNDE token whose mission is to empower users with the best tools to stake, secure, and participate in the Solana ecosystem. Marinade is the creator of the mSOL token, a collateralized and fully liquid version of SOL a user receives when they stake their SOL in the Marinade stake pool. Marinade is also the creator of Marinade Native, the first product on Solana that enables the ability to utilize a performant and permissionless staking strategy void of any smart contract interaction.
CONTACT
Brandon Tucker
Marinade Finance
btuck@marinade.finance
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/178245
