Marinade Finance introduces the Open Doors Program to increase Solana’s censorship resistance and the overall liquidity of Solana DeFi while also distributing more Marinade governance power via MNDE token to leading ecosystem players.

Introduction to Open Doors Program

Open Doors Program is a 12-month program accessible to Solana projects, validators, and wallets offering up to 160M MNDE (16% of total token supply) in additional incentives to grow up to 40 million mSOL adoption via their platform.

Marinade TVL put in these protocols between February 1, 2023 and January 31, 2024 will be eligible for awards of 4 MNDE every 1 mSOL retained for a 12-month period, dispersed among the actors that engaged in bringing or hosting it.

The mission of the Open Doors Program is to increase Solana’s censorship resistance and the overall liquidity of Solana DeFi while also distributing more Marinade governance power via MNDE token to leading ecosystem players.

“We are thrilled to participate in the Marinade Open Door Program. This initiative gives us the flexibility to explore and incentivize new use cases for mSOL.We believe this program will help unlock a new batch of SOL liquidity to power DeFi ecosystem-wide while strengthening the network.”

— Stendhal, Partnerships at Raydium

How Open Doors Improves Solana Decentralization and Liquidity

Marinade’s stake pool delegation technique distributes to validators outside the superminority, thus as more SOL is staked to Marinade, Solana’s stake gets more broadly spread, and its Nakamoto Coefficient, a measure of network decentralization, grows.

Solana DeFi liquidity is also enabled through liquid staking deposits such as mSOL. Although 70% of SOL tokens are staked, just 2-3% are liquid. This means that around two-thirds of SOL tokens cannot be utilized in DeFi. The more liquid and spread the stake gets through the Marinade pool, the more fuel Solana DeFi has to expand.

The Open-door program will be divided into use cases, and Marinade’s team will have three months to reveal any further use cases that are permitted to join. The following use cases will begin on February 1st:

• Protocols having a part of their TVL containing mSOL
• Validators using the Liquid-self stake product
• Individuals using the referral program

These protocols are free to distribute MNDE deposits through liquidity mining. Or to store and lock the tokens in a Chef NFT to participate in mDAO governance.

MNDE Token Distribution for Builders

Since its on-chain governance was implemented in April 2022, the MNDE coin has seen considerable utility improvements. MNDE holders may now direct SOL stake to validators and MNDE liquidity mining emissions to protocols thanks to the introduction of Liquidity Mining and Validator Gauges.

MNDE and mSOL were listed for trading on Coinbase and Gate.io in October 2022, giving the coins with even more liquidity. mSOL may also be traded on Kraken.

The notion and effectiveness of liquidity mining were hotly debated and voted on by the DAO in 2022. According to the findings, liquidity mining is not a good source of sticky mSOL TVL growth. A treasury gauge was voted on and implemented, allowing holders to direct MNDE missions back to the treasury. 77% of emissions were voted to be returned to the government. Then, another vote was held, which lowered the 1M token emissions to 250,000.

Currently, about 60,000 MNDE is being distributed weekly via liquidity mining. | View the current pools receiving MNDE on the liquidity mining homepage

The MNDE token will be more difficult to get for DeFi liquidity miners seeking APY. Since there will be less of it accessible in various pools and collateral. MNDE has never been more accessible to builders and those pushing liquid staking liquidity through mSOL.

About Marinade Finance

Marinade Finance is a liquid staking protocol operating on the Solana blockchain. Users can stake the SOL token to earn compounding interest while helping to maintain decentralization throughout the Solana ecosystem.

Website | Twitter 

SOURCE

https://medium.com/marinade-finance/driving-community-liquidity-and-decentralization-introducing-the-marinade-open-doors-program-4d69f5b48fb

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Marinade Finance introduces mTransaction, a way for any user to get their transactions through, even during peak demand on the blockchain. The mDAO will manage the new revenue opportunity introduced by mTransaction.

Marinade Introduces mTransaction

mTransaction enables sending Solana transactions through successfully, even at busy hours and without SOL stake or running your validator. In theory, it is a transaction throughput marketplace—connecting users who seek the stake to send transactions with validators who have the excess stake to provide.

mTransaction takes users’ transactions and delivers them at high priority to the block-producing validator. It helps Solana users to get their transactions through, no matter how busy the blockchain is, by routing the order through the network of participating validators.

Validators: Get more yield through mTransaction

The mTransaction service, built as a sidecar to the validator client. Itdoes not require validators to make any changes to their code. As such, it safely integrates with any version of the Solana client, including Solana Labs, Firedancer or Jito.

The priority transaction fees collected, paid by the users, and distributed to participating validators.

Part of the collected MEV rewards distributed to the Marinade community as determined by the mDAO. The community could consider directing these rewards to mSOL, increasing the APY due to the additional revenue stream, or distribute to MNDE Chef NFT holders.

How users can send transactions with mTransaction

The mTransaction product by Marinade builds on top of the latest Solana network upgrades, such as QUIC and stake-weighted Quality-of-Service. The block-producing validator opens up 2,500 connections for others to communicate. 500 of those not requiring any stake to connect and 2,000 connections for the nodes backed by the SOL stake.

mTransaction provides the service to send the Solana transaction on behalf of the staked nodes. This prioritizes transactions that would otherwise be sent without any stake to back it and most likely failed to be executed.

Marinade updated its midyear roadmap in 2022 and shared its intent to continue building not only a more decentralized Solana, but contribute to a performant one, too. As a Solana-native protocol that is community-owned through DAO governance. MEV staking yield for mSOL and mTransactions are the latest step in both creating a more robust blockchain but also a more prosperous DAO community.

About Marinade Finance

Marinade Finance is a liquid staking protocol operating on the Solana blockchain. Users can stake the SOL token to earn compounding interest while helping to maintain decentralization throughout the Solana ecosystem.

Twitter | Website

SOURCE

https://marinade.finance/blog/marinade-mev-on-solana-part-3/

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