Marinade
Crypto Overview
Overview
Marinade (MNDE) is the governance token for Marinade Finance, a liquid staking protocol built on the Solana blockchain. The protocol allows users to stake SOL tokens and receive mSOL in return, which can be used in DeFi applications while still earning staking rewards.
Purpose and Utility
The primary purpose of MNDE is governance over the Marinade protocol, allowing token holders to participate in decision-making regarding protocol parameters, fees, and strategic directions. Token holders can propose and vote on changes to the protocol.
Business Model and Operations
Marinade Finance generates revenue through staking fees and a portion of the staking rewards. The protocol operates by pooling users' SOL tokens and distributing them across multiple validators to enhance decentralization and minimize risks. The protocol's operations are transparent and verifiable on-chain.
Real-World Adoption
Marinade has achieved significant adoption within the Solana ecosystem, with over $300 million in Total Value Locked (TVL) as of 2024. The protocol has integrated with numerous DeFi platforms on Solana, and mSOL is widely accepted as collateral across the ecosystem.
Platform Development
The project maintains active development, with regular updates to the protocol and governance system. The team consistently implements security improvements and feature enhancements based on community feedback.
Token Distribution
MNDE tokens were distributed through a fair launch mechanism, with allocations to the community, team, and ecosystem development. Team tokens are subject to vesting schedules to align long-term incentives.
Crypto Impact
To assign a comfort level investing in Marinade 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.
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.