MNDE Launch: Serving the Tastiest Token
More than 2 million SOL is now being staked through Marinade Finance, and the cooks are extremely happy for the trust and participation from all the stakers who took part. We are finally ready to launch our main course: MNDE. Here’s what to expect from the token distribution and what you need to know.
Commitment to Decentralization
The problem with today’s farming and liquidity mining is that the biggest whales end up eating all the cake. This time, we’ll try to make sure everyone gets a slice.
What’s more, the smaller fish may even celebrate with the whales (more details towards the end).
Why? Because we are committed to decentralization at every level, including the MNDE distribution and DAO governance.
So…
Wen lunch?
Thank you Marinators for all your lovely lunch pictures in the wen lunch? competition on our Discord. The meals from all around the world looked amazing.
Takoyaki, the winning picture by k5
In the same spirit, we can finally share a meal as well:
We’re launching MNDE on Thursday, October 7th
Marinade aims to support contributors to the SOL → mSOL movement across the whole Solana ecosystem, which is already set in motion.
For starters, MNDE will be distributed in three organic, GMO-free ways targeting the following use cases:
Marinade plans to onboard more protocols down the road into the MNDE distribution program once they decide to become part of the movement by integrating mSOL.
Some of the projects might be introduced even before the MNDE launch.
MNDE Liquidity Mining
A small refresher: there are 1B MNDE tokens in total, and 35% out of that (350M) is allocated to liquidity mining. We plan to distribute roughly 1,700,000 MNDE (0.17%) weekly to incentivize mSOL usage and get the tokens out to Marinade users so they have a way to participate in the Marinade DAO.
To allow flexibility in a rapidly changing market, we intend to revisit the allocations and make adjustments on a weekly basis. Along the way, we will slow down the revisions and invite the community to take part in the discussions.
The initial week (Oct. 7 to Oct. 13) will start with the following MNDE allocations:
TVL Milestones — One Time Offers
We have set aside 80,000,000 MNDE (100% of the TVL Milestones budget) to celebrate a shared success in decentralized staking.
For every staking milestone, these additional MNDE tokens will be added to the following week’s allocation — rewards will snowball as more SOL is staked.
The Milestones Distribution Strategy
Retroactive Claim
Initially, we have set up 15,000,000 MNDE to be distributed as a retroactive claim, and we recently added 5,000,000 MNDE on top of that as the last sprint before the MNDE launch.
This meal is still cooking and will be served a bit later after the launch with details to be announced later.
For now, you can refer to these principles for the retroactive claim:
We can’t wait to let you in and finally feast altogether.
Until then, happy staking! 🤗
