Marinade.Finance is a non-custodial liquid staking protocol built on Solana. Users can stake their SOL tokens with Marinade using automated staking strategies and receive "marinated SOL" tokens (mSOL) that they can use in decentralized finance (DeFi).
The price of mSOL goes up relative to SOL each epoch with rewards being accrued into the underlying staked SOL. Users can withdraw their SOL at any time by unstaking and waiting for the unlock period (1-2 epochs) or immediately with a small fee. They can also directly exchange between mSOL and SOL on secondary markets at the current rate.
mSOL is a liquid staking token that users receive when they stake SOL on the Marinade protocol. These mSOL tokens represent users' staked SOL tokens. They act as a receipt, allowing users to exchange them later on for your staked SOL and the earned rewards. Meanwhile, users can use mSOL in DeFi while enjoying their staking rewards.