Marinade Staked SOL
Crypto Overview
Project Overview
Marinade Staked SOL (mSOL) is a liquid staking derivative token on the Solana blockchain. When users deposit SOL tokens into the Marinade protocol, they receive mSOL tokens in return, representing their staked SOL plus staking rewards. The protocol automatically delegates the deposited SOL across multiple validators to enhance decentralization and security of the Solana network.
Intended Utility
The primary purpose of mSOL is to provide liquid staking services, allowing users to earn staking rewards while maintaining liquidity of their assets. Users can utilize mSOL in various DeFi protocols while their underlying SOL continues generating staking yields.
Actual Utility & Adoption
As of 2024, Marinade has become one of the largest liquid staking protocols on Solana with over $450 million in Total Value Locked (TVL). The protocol distributes staked SOL across more than 380 validators, contributing significantly to Solana's decentralization. mSOL is widely integrated into Solana's DeFi ecosystem, being accepted as collateral on major platforms.
Token Distribution & Governance
The protocol is governed by MNDE token holders through a DAO structure. The token distribution appears relatively fair, with no concerning concentration among founders. The protocol's code is open-source and has undergone multiple security audits.
Revenue Model
Marinade generates revenue through a small performance fee on staking rewards. The protocol does not charge deposit or withdrawal fees. Rewards are automatically compounded and reflected in the mSOL/SOL exchange rate.
Crypto Impact
To assign a comfort level investing in Marinade Staked SOL from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Marinade Staked SOL.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.