MNDEMarinade (MNDE) Price

1. Project introduction

Marinade.Finance is a non-custodial liquid staking protocol built on Solana. You can stake your SOL tokens with Marinade using automated staking strategies and receive "marinated SOL" tokens (mSOL) that you can use in decentralized finance (DeFi). The price of mSOL goes up relative to SOL each epoch with rewards being accrued into the underlying staked SOL.

Blockchains use consensus protocols in order to validate transactions in a secure and decentralized way. When you stake (lock) your SOL tokens to a validator, you are helping to secure the network and participating in the decentralization of Solana. In return for locking your SOL, you receive rewards in SOL. For the decentralization and the security of the Solana blockchain, we need as much SOL as possible staked to efficient validators. With the growing number of use cases for SOL in DeFi, a fair amount of SOL is still not staked and used daily in DeFi.

Marinade offers you the possibility to stake your SOL in exchange for mSOL that you can use in DeFi while still enjoying the staking rewards. The SOL that you are staking with Marinade is spread among more than 450 validators, excluding the so-called "security group" (top 25 validators). Validators are chosen by our transparent, permissionless formula and automatically rebalanced.

2. Application and distribution

Token application:

MNDE is the governance token of Marinade, a DAO operating on the Solana blockchain. Token holders who lock their MNDE to mint a Marinade Chef NFT are eligible to take part in on-chain governance of the Marinade DAO. This includes oversight of the treasury, the delegation strategy of the stake pool and liquidity mining incentives from token emissions.

Token distribution:

DAO Treasury: 35%

DAO Distribution: 35%

Team: 30%