Introducing Marinade Native
Learn more about Marinade's new product, Marinade Native.
Marinade Finance, Solana’s leading staking platform and biggest project by total value locked (TVL), is announcing the launch of its first-ever native staking service. Marinade Native will allow users to stake SOL directly with over 130 network validators in one click and non-custodial with no smart contract risk.
Until now, those wishing to stake SOL natively with multiple network validators required multiple transactions, and also constant performance monitoring. Liquid staking enables staking through pools to multiple validators, however, it carries smart contract risk through an on-chain program.
This has made staking unattractive to many institutional investors who could not tolerate either the smart contract risk of liquid staking or the high concentration risk of relying on the performance of one validator. Currently, over 97% of all staked SOL (370 million SOL) is staked natively with individual validators, translating to an $8.1 billion opportunity for Marinade Native.
Marinade Native combines the delegation strategy concept of liquid staking with the non-custodial benefits of native staking, as users will never give up custody of their staked SOL. The average yield for Marinade Native staking is currently 7% APY* with zero management fee.
Moreover, Marinade’s smart delegation strategy, which uses a novel scoring system to select the top 100 validators based not only on yield but performance and decentralization, ensures users’ SOL is spread across a tested pool of validators. This formula determines which validators receive 60% of Marinade’s stake, while MNDE and mSOL token voting account for 20% each.
Cerba, Core Contributor of Marinade Finance, says: “The launch of Marinade Native marks a key milestone in the Marinade 2.0 rollout, which we are excited to deliver. Marinade remains an advocate of liquid staking, which offers a host of other benefits to users as well as the Solana ecosystem as a whole. However, we recognize that many institutional investors are balancing important risk considerations with returns, and for the first time they can now benefit from a stake delegation strategy with no smart contract exposure.”
“Our current community of mSOL and MNDE holders will also benefit. Because 20% of the Marinade stake pool is determined by MNDE token voting, the expansion that Marinade Native will bring will ensure the MNDE token is increasingly appealing to validators. As a bootstrapped, community-first project launched with zero VC funding in 2020, it is important that our community remains involved in all governance and benefits as the protocol grows.”
How to use Marinade Native
The updated Marinade DApp now has a simple interface with a toggle that lets you switch from liquid to native stake. By selecting “Native” and then “Stake” Marinade will accept stake authority and create a native stake account for you with all the validators in the current delegation.
Andy you can manage and unstake your Marinade Native position and all your staking positions (including mSOL and other LSTs) directly from the Marinade DApp.
Solana stakers can utilize Marinade’s brand new liquidity router to be able to skip the cooldown period and instantly unstake their positions and receive their SOL back at the very best price.
Other benefits for the Marinade community include:
About Marinade Finance
Marinade Finance is a DAO 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. In October 2022, mSOL became the first-ever third-party liquid staking token to be supported and tradeable on Coinbase. Stakers can also utilize Marinade Native, which enables non-custodial staking using Marinade’s delegation strategy. Stakers The Marinade Validator Dashboard was created in 2023 to enable Solana users to view and compare the performance of all Solana validators, and even direct their SOL staked with Marinade by voting with their mSOL or locked MNDE governance tokens for the validators of their choice.
