Marinade Finance wants to boost liquid staking on Solana

  • Marinade Finance rewards Solana holders for staking SOL via its liquid protocol.
  • The incentive program will run for the next 12 months and the platform will provide up to 160 million native marinated tokens.
  • The goal is to grow Solana TVL to 40 million SOL, and Liquid Staking is the key to that.

Marined Finance, the liquid staking platform that powers the Solana blockchain, aims to bring more liquidity to the Solana ecosystem through key incentive programs.

protocol described in Presentation The program “Open Doors” is designed to incentivize Solana builders, validators and wallets to increase the liquidity of their blockchain platform assets.

Therefore, Marinade is considering offering rewards in the form of tokens to users who contribute to increasing Solana’s Total Value Locked (TVL) on the protocol.

Marinade Finance’s 12-Month Incentive Program for Solana

Over the next 12 months, users will have the chance to win a portion of 160 million Marinede (MNDE) tokens by depositing SOL in exchange for mSOL. The goal is to bet mSOL her 40 million SOL. This is a scenario that greatly increases the liquidity of the ecosystem and helps decentralize it.

Currently, only 2-3% of SOL are reportedly This will allow us to plan to bring more to the ecosystem that is important to Solana. This is because staked SOL does not contribute to Solana’s DeFi TVL. However, mSOL’s fluid stake flows between different protocols.

In terms of decentralization, Marinade supports staking hundreds of validators through a delegation strategy.

For Solana DeFi to rebound stronger, it needs to liquidate more $SOL (LOTS MORE). Anyone who contributes to this via the $mSOL, protocol or referral program will be rewarded with direct ownership of the marinadesaid the marinade team.

according to data According to DeFiLlama, the Solana chain’s TVL has fallen from $10 billion in November 2021 to approximately $278 million as of January 25, 2023. second largest share.

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