Marinade is bringing together the best SOL staking tools on Solana into a single platform. Users can now access smarter staking management solutions, native staking, and in-depth analytics all in one place. Accompanying this upgrade are refined MNDE tokenomics and a strategic mDAO buyback initiative. Once fully implemented, the governance migration will integrate the protocol and the DAO more seamlessly than ever.
The recent launch of mSOL Directed Stake highlights Marinade’s ongoing development throughout the 2022–23 market cycle. Progress is visible across the Solana ecosystem—from improved chain performance to the resurgence of DeFi protocols like Solend and Mango, and the migration of major projects like Helium and Render. The network’s Nakamoto Coefficient has also risen to 34, indicating a more decentralized and robust infrastructure.
Liquid staking has gained considerable attention in 2023, partly due to Ethereum’s Shanghai upgrade which introduced staking withdrawals. Additionally, the Solana ecosystem has been addressing liquidity challenges following the FTX-Alameda collapse, with a renewed focus on overcoming the limitations of locked stake.
Since its inception via grants in early 2021, Marinade has been at the forefront of Solana staking. The protocol went live in August 2021, with DAO governance following in spring 2022. Through continuous testing, community feedback, and collaboration with stakers and validators, Marinade has refined its delegation strategy, tokenomics, staking program, and governance mechanisms.
With these insights and aligned with Solana’s core improvements, Marinade is proud to introduce its upgraded platform: Marinade v2.
What’s New in Marinade V2?
Marinade V2 integrates existing features with new initiatives set to launch later this year. Below are some of the key milestones already achieved in 2023:
- ✅ Validator Dashboard
- ✅ Open Doors Program
- ✅ Saga Solana Mobile Phone DApp
- ✅ Updated MNDE Allocations and Milestones
- ✅ Stake Pool Delegation Strategy Revamp
- ✅ mSOL Directed Stake
Upcoming Features for This Year
- Stake Pool Delegation strategy updates
- Staking 360: All-encompassing staking product
- DAO Governance enhancements
- MNDE token design improvements
Stake Pool Updates and Performance
Marinade V2 introduces a revamped delegation strategy structured as follows:
- Performance-Based (60%): An algorithmic approach selects the top 100 validators based on the Marinade score, which considers both yield and decentralization.
- veMNDE (20%): MNDE holders who lock their tokens in the governance system can direct stake toward their chosen validators—provided those validators meet performance standards.
- Directed Stake (20%): mSOL holders and protocols can vote to assign stake to specific validators that satisfy eligibility criteria.
Marinade’s proprietary Validator Dashboard offers transparent, real-time tracking of validator performance. This system helps ensure that stake is delegated to high-performing, ethical validators while quickly identifying those that may be acting maliciously or degrading network performance.
With the integration of Solana’s redelegate feature, Marinade V2 enables instant rebalancing of staked SOL without a cooldown period—maximizing rewards for all mSOL holders.
Staking 360: A Comprehensive Staking Solution for Solana
Despite 70% of all SOL being staked, only about 2% is liquid staked. Through user interviews and surveys, common concerns have emerged: taxable events, smart contract risk, and a preference for single-validator support.
Marinade’s new Staking 360 product aims to address these barriers by combining several existing tools—including the Validator Dashboard, updated delegation strategy, Directed Stake, and The Decentralizer—into one optimized interface. Staking 360 will serve as Solana’s most comprehensive staking hub, allowing users to stake natively or liquidly, across one or multiple validators, using the most transparent tools available.
Key Components of Staking 360
- Algorithmic Native Staking: Users can now stake natively without exposure to smart contract risk. Marinade’s algorithm automatically delegates across 100+ high-performance validators, with full transparency via the Validator Dashboard.
- Unstake Pool Redesign: The updated unstake pool enables instant unstaking for mSOL, natively staked SOL, and other staked tokens. By integrating Jupiter for swaps and Marinade for account management, users can convert staked assets back to SOL in one click.
- Enhanced Liquid Staking Integrations: mSOL remains liquid and composable. Marinade will continue expanding ecosystem integrations and improve its educational and DeFi resource pages to help users make the most of their mSOL.
Staking is essential to Solana’s health and growth. With most SOL already staked, Marinade is focused on making staking smarter, safer, and more flexible for everyone. 👉 Explore more staking strategies
mDAO Governance Updates and MNDE Tokenomics
A stronger product suite creates more opportunities for mDAO governance through the MNDE token and on-chain tools via Realms.
Marinade is upgrading its governance infrastructure from Tribeca to Realms—a platform built by Solana Labs and Mango Markets. This shift enables tighter integration between mDAO, the MNDE token, and the broader Solana community.
The first phase of migration is complete, including the move of two multisigs and the ratification of a new code of conduct and constitution. Marinade V2 will operate under the following governance model:
- The DAO controls the treasury, main contract, and council membership.
- MNDE holders lock tokens to receive veMNDE voting power. Existing Chef NFT holders will need to migrate to Realms to participate.
- The Marinade Council manages day-to-day operations under a DAO-approved budget and serves as a security backstop. The DAO retains the authority to replace the council via vote.
These updates simplify and streamline governance, making it more efficient and transparent.
MNDE Token Design
Marinade has reevaluated its token design to better align incentives and allocations. Key changes include:
1. Allocation
The original distribution was 35% to the community, 35% to the treasury, and 30% to the team with a two-year linear vesting. The new model halts team vesting at 7.5% and ties further unlocks to performance metrics like Total Value Locked (TVL). This shift from time-based to performance-based vesting better aligns team incentives with protocol growth.
The new MNDE allocation is as follows:
- DAO (92.5%): Includes 11.5% in circulation and 81% in the treasury controlled by MNDE holders.
- Initial Contributors (7.5%): 6.7% is already circulating; the remaining 0.8% vests monthly until end of 2023.
2. MNDE Token Buybacks
Protocol fees currently cover operational costs. Once monthly revenue exceeds expenses, the community may propose and approve buybacks of MNDE from the open market.
3. MNDE Token Ownership and Utility
MNDE holders who stake in governance gain control over the treasury and protocol updates. The team will request funding via DAO proposals, and liquidity mining will transition to time-bound grant proposals.
MNDE utility can be summarized in three functions:
- SOL Delegation: Direct 20% of staked SOL via Validator Gauges.
- Fee Accrual: Increased protocol revenue drives buyback demand for MNDE.
- Governance: Control treasury funds and approve protocol upgrades.
Frequently Asked Questions
What is Marinade V2?
Marinade V2 is a major upgrade to the Marinade Finance protocol, introducing improved staking tools, updated tokenomics, and enhanced governance. It aims to provide a more integrated and user-friendly staking experience on Solana.
How does the new delegation strategy work?
The new strategy splits stake allocation three ways: 60% based on validator performance, 20% determined by veMNDE votes, and 20% via directed stake from mSOL holders.
What is Staking 360?
Staking 360 is a comprehensive staking interface that combines native staking, liquid staking, validator analysis, and instant unstaking into one platform. It is designed to serve all staking needs on Solana.
How is MNDE tokenomics changing?
Team token unlocks are now performance-based rather than time-based. The majority of tokens are controlled by the DAO, and buybacks may be initiated once protocol revenue exceeds operational costs.
What is the role of veMNDE?
veMNDE is obtained by locking MNDE in governance. It gives holders voting power over validator selection and protocol proposals.
Can I unstake my SOL instantly?
Yes, the redesigned unstake pool allows instant conversion of staked assets—including mSOL and natively staked SOL—back into SOL using integrated swap liquidity.
Marinade continues to prioritize tooling, transparency, and community-led governance. With these upgrades, Solana users can expect a more efficient, secure, and decentralized staking experience.