Marinade, the first liquid staking protocol built on Solana, introduce $MNDE, Marinade’s Secret Sauce

Marinade Finance witnessed exciting growth:

⚡️ 870,000+ SOL staked, translating to $100M+ TVL

⚡️ A broad spectrum of mSOL integrations across the Solana DeFi ecosystem, with a leading mSOL-SOL pool at Saber with $100M+ liquidity

⚡️ mSOL surpassing SOL to become the #1 asset used on the lending protocol Port Finance

Marinade feel very blessed and find these to be fantastic achievements given that:

• They are self-funded with the help of grants from the Solana Foundation and Serum
• It’s all been healthy, organic growth so far, without any incentives from their side
• They are already cash-flow positive and became financially independent through our product

Marinade’s mission is to create an easy-to-use liquid staking protocol that dramatically improves the decentralization of Solana. The solution is available now, but that’s not enough. It needs care so it can support the upcoming growth as the whole ecosystem onboards millions of new users in the years to come.

To build the tastiest decentralized staking solution on Solana, they need more cooks. They are opening and decentralizing its kitchen so the community can help in navigating the flavors and ingredients.

Main Course — The $MNDE Token

Marinade (MNDE) has all the basic ingredients that a proper governance token needs:

• Valueless, no sale, and distributed only to those who use or support the protocol
• Aligns incentives for the community, users, partners, and the team
• Drives the development of Marinade and creates a collaborative space for the core attributes of the protocol as well as the outer layers

Dinner is Served

The hard cap of MNDE is 1 billion tokens, split between the three pillars of the project:

• 35% (350M) — The Marinade community, driving the formation of the Marinade DAO
• 35% (350M) — DAO treasury to finance the future of liquid staking and beyond
• 30% (300M) — Chefs (team) allocation, with a 6-month cliff and 2 years linear vesting

The Marinade DAO allocation of 350M MNDE is split into three working budgets:

• 76% — Farming and liquidity providers to open doors and establish the presence of mSOL across the Solana ecosystem
• 20% — Milestone budget for additional tokens to be distributed upon reaching significant TVL levels
• 4% — Marketing budget for bounties, contests, education, and fun

Straight from the Farm

Decentralizing Marinade will be a process, not a marketing event with triple-digit APYs. MNDE tokens will be distributed weekly in a linear fashion over the course of 2 years, so even the people arriving late can find a seat at the table.

The pace of distribution may change in order to facilitate an enjoyable meal for all the Marinators.

Become a Chef

Marinade is also looking to bring more Chefs to the team. That’s why they started to work on the process so that anyone can check if they’re a match, find all the relevant info, and become a Chef.

For now, they look at forming the teams around four specific sectors in their kitchen:

📍 Product — Development, security, design

📍 Community — Customer success, community engagement, user research, communications, branding

📍 Integrations — Business development, tech writing, tokenomics

📍 DAO Ops — Internal docs, PM/reporting, HR, financials

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