Marinade Staked SOL

Purpose and Utility

Marinade Staked SOL (mSOL) is a liquid staking token representing staked SOL on the Solana blockchain. When users deposit SOL into Marinade Protocol, they receive mSOL tokens in return. These tokens represent their staked SOL plus staking rewards, allowing users to maintain liquidity while earning staking yields.

Business Model

The protocol operates by pooling user deposits to run validators on the Solana network. Users can utilize their mSOL tokens in DeFi protocols while their underlying SOL remains staked. The model is based on legitimate blockchain infrastructure services (staking) rather than lending or interest-bearing mechanisms.

Real-World Adoption

As of 2024, Marinade Protocol has over $500 million in Total Value Locked (TVL) and is the largest liquid staking protocol on Solana. The token is widely integrated across the Solana DeFi ecosystem, being used as collateral and in liquidity pools.

Platform Development

Marinade Protocol maintains active development with regular updates to their smart contracts and infrastructure. The protocol emphasizes security and has undergone multiple audits. The team continues to expand integrations and improve the protocol's efficiency.

Token Distribution

mSOL tokens are minted when users deposit SOL and burned when they withdraw, creating a transparent and fair token economic model. There is no pre-mine or founder allocation of mSOL tokens, as they are purely representative of staked SOL.