Marinade Earn Season 3 is coming!

Marinade Earn – Season 3 is about to go live, which means staking with Marinade will become tastier!

How To Earn Rewards

Over the next 3 months, Marinade will distribute up to 25 million MNDE tokens to users who participate in deepening total mSOL liquidity, fortifying its dominant position in the Solana LST market.

While the total MNDE up for grabs is equal to Season 2, the ways to earn it are a little different. Rather than earning tokens for simply staking SOL for mSOL, Season 3 incentivizes specific actions that deepen mSOL liquidity. Participants can enjoy bonus MNDE incentives for deepening mSOL liquidity in three main ways.

Incentive #1: Kamino mSOL/SOL LP Vault

First, up to 12.5 million MNDE will be added as incentives for providing liquidity in Kamino’s Raydium mSOL/SOL vault. This not only deepens liquidity for mSOL to reduce volatility and slippage when trading it, but it also provides users with fungible kTokens (Kamino tokens) that can be used elsewhere in DeFi to trade, earn additional yield, and more.

Incentive #2: Looping Meteora mSOL/SOL LP Tokens

Second, up to 5 million MNDE tokens can also be earned by taking part in an mSOL/SOL looping strategy on Solend. This strategy will leverage users’ deposited Meteora mSOL/SOL LP tokens to earn a multiplied yield, as well as extra MNDE incentives! For reference, this looping strategy could potentially outperform the 15% APY currently seen with the Kamino mSOL/SOL multiply strategy, especially given the added MNDE rewards. That’s a huge leap from the current ~1.5% APY in the Meteora pool, and it could even position this pool as the highest yield that LPers can receive on any fully SOL-exposed pool on the market.

Incentive #3: Discretionary LP/Partner Rewards

Finally, up to 7.5 million additional MNDE will be paid out to deepen mSOL in various other pools, as well as provide partner rewards (which may serve as additional current or future user incentives). These rewards are discretionary, so they will be determined by market conditions and other metrics. One example of a pool where you can expect to see extra MNDE rewards is the Raydium MNDE/mSOL vault on Kamino.

For even more information regarding the distribution and rationale behind season 3, check out the full DAO proposal here.

Stay In Touch

The kitchen is busy! We’ll have more updates soon on the many developments happening at Marinade. To keep up to date with everything, make sure to follow us on X and join our Discord.

About The MNDE Token

MNDE is the governance token of the Marinade DAO. It launched in October, 2021 as a fair launch token with no VC investment or ICO. Holders of MNDE can lock the token in Realms governance to participate in DAO votes, control the DAO treasury, and use it to vote for validators to receive a portion of Marinade’s SOL stake. The goal for MNDE is to distribute tokens only from contributions to the DAO or the TVL of the protocol.

Learn more about MNDE token utility here.