Happy New Year from Marinade!
I hope you all enjoyed your winter break and came back fully rested and ready to attack what is a promising 2022. Even with a bit less activity during the holidays, a lot of things have happened or crystallized in the last two weeks. It’s time to recap!
Solflare, a Solana non-custodial digital wallet, launched staking through the Marinade referral program! In just over a week, the current count is more than 200k SOL staked through Solflare, for more than $30M TVL.Step.finance and Sonar.watch, the two best Solana native DeFi dashboards by far, have also joined the Marinade referral program and have already integrated it on mainnet. The partnerships workgroup is currently discussing staking integration with other big players in the Solana ecosystem.Our mSOL token has also made its way to Katana and Friktion, the new DeFi protocols revolving around covered calls. Slowly but surely, mSOL is becoming a must-have token for any new DeFi protocol that takes true decentralization and Solana network growth seriously.The team at Saber, a cross-chain liquidity network, has begun creating a new way of managing governance tokens on Solana and Marinade will join this effort and integrate it! Unfortunately, this means some progress has been lost on the SPL governance token project. Nonetheless, Tribeca seems like a promising and better governance primitive and is based on Anchor, which will facilitate the work ahead. Governance tools may be coming sooner than we all think!Three projects regarding the MNDE token future and utility are currently being designed and polished before being proposed to the DAO. The first project regards MNDE locking to obtain governance rights. The second project is about offering vested MNDE at a discount. And these decisions will impact our exciting NFT project.There has also been activity on the Marinade forum and important topics highlighted by MNDE utility are being discussed. Please take a moment to read through it and share your opinions. MNDE utility will be a crucial topic of Q1.OKRs, work group structures and onboarding processes are being finalized to facilitate the work to be accomplished through 2022. They should all be validated in the next few weeks. A public dashboard to follow our roadmap is also on the way!To continue adding more structure, our Discord roles will soon be revamped and our FAQ channels will be improved.Our delegation strategy has been improved thanks to the feedback of some validators and to our dev team. On the same topic, an SQL database was created to store historical validators data.Marinade teased a rebrand towards the end of last year and the main course has nearly arrived: the latest version of the Marinade website and app. The original date to deliver them was January 7th, but a few remaining front-end bugs compelled the team to hold off the release until everything has been fully rectified. (Members of our Discord can visit the Announcements channel to see and use the new site and app). The goal from the beginning at Marinade has been to present a simple and welcoming app combined with a feel that reflects our diverse community and the latest piece is nearly here!The end of 2021 was filled with updates and integrations and everything indicates that January won’t be any different! And to help tell the story our communications team is growing. I am excited to join Marinade as a full-time communications manager, and Marinade is also onboarding a new Head of Storytelling position this month.
Let’s continue cooking together in the Marinade kitchen for the year to come!
What is Marinade.Finance?
Marinade.Finance is the first non-custodial liquid staking protocol built on Solana. You can stake your SOL tokens with Marinade 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. Marinade stakes in 400+ validators that are selected automatically by an open-source fair formula based on performance, commission, and decentralization.
Marinade includes mSOL->SOL swap, so you can “Unstake Now!” and receive your SOL immediately with a small fee. You can also directly exchange between mSOL and SOL on secondary markets at the current rate. Finally, you can unstake your SOL with zero fee by waiting 4–6 days for the Solana cool-down period (delayed unstake).
Website | Discord | Github | Documentation | Stats | Press Kit
