Partnership Announcement: Snowflake integrates Marinade Finance’s mSOL liquid staking
Snowflake announces its new product integrating mSOL!
Empowering users to stake their SOL for mSOL from a secure Multisig.
At Marinade, The Chefs believe that the more mSOL is in the Solana ecosystem, the better it is for everyone involved, thanks to the decentralizing nature of the delegation strategy and the yield provided to the mSOL holders.
That goes for individuals as well as project treasuries alike. So the Chefs were excited to work with a leading team on Solana involved in smart and intuitive multisig management:
Marinade & Snowflake
Today Marinade Finance and Snowflake are thrilled to announce a partnership that gives users and teams the ability to stake SOL directly from a secure multisig and receive mSOL. This allows users to earn staking rewards from their treasury with just a few clicks.
What is Snowflake Safe?
Snowflake Safe is a multi-signature wallet that allows a group of users to approve a blockchain transaction before it can be executed. This is especially useful for project treasuries. Features of Snowflake Safe include an asset manager that stores coins, NFTs and more, recurring payments for actions like payroll, token vesting services, token swaps via Orca and more custom actions.
Snowflake is already used by many of the leading DeFi protocols on Solana, and this new integration will enable an easy way for them to stake SOL for liquid mSOL, adding staking rewards and liquidity to their treasury.
See Marinade in Action on Snowflake
Marinade integration through Snowflake Safe is now available on Solana. When using the Marinade application through Snowflake Safe, you will have the option to stake or unstake your SOL.
Before you submit the transaction, you will be able to view the changes to the total amount of the underlying tokens in the Safe.
This opens the door for a whole new platform for teams and large investors, who are looking to earn rewards from a liquid staking protocol but want to ensure they can do so safely and securely via a multisig.
“Staking mSol is one of the simplest, yet most secure ways to earn staking rewards on SOL. This makes Marinade an easy choice for teams holding SOL in their treasuries. In doing so, teams also take an important step forward in further decentralizing the network.” — Tam, co-founder at Snowflake
Multisigs: Automate your Staking Schedule
What if you have regular income coming into your safe that you wish to earn staking rewards automatically the moment they arrive? With Snowflake Safe’s automation capability, you can set this up in just a few clicks.
In the example below, you are able to set it up so that you stake 2 SOL into Marinade Finance for mSOL on the first day of each month. Once the proposal is approved and executed, you can sit back and let Snowflake Safe handle all the future actions on your behalf, as per the schedule you specified.
Teams already on Snowflake are invited to give the staking a try, or visit the Snowflake docs to learn more about Snowflake Safe and their other products.
About Marinade
Marinade is the first and leading non-custodial liquid staking protocol built on the Solana blockchain. Its mission is to strengthen and decentralize Solana and onboard people around the world to decentralized finance. Marinade is the creator of the mSOL, a liquid staking token that you receive when you stake SOL to Marinade. These mSOL tokens represent your staked SOL but can be utilized across the leading projects in the Solana DeFi ecosystem in addition to accruing staking rewards. Marinade operates as a DAO thru the MNDE governance token and NFT Chefs.
