Marinade (MNDE) is the governance token of Marinade Finance, a liquid staking protocol built on the Solana blockchain. Marinade.Finance aims to provide a seamless staking experience for Solana holders without locking in liquidity by transforming SOL into mSOL, which represents a tokenized version of Solana.
mSOL represents the staked SOL and accrues value over time as you earn staking rewards. mSOL can be used in various DeFi protocols for liquidity provision or yield farming, enabling you to earn additional yields on your staked assets.
By staking SOL, Marinade contributes to the security and stability of the Solana network. Marinade often provides a user-friendly interface to attract experienced and new crypto users.
MNDE enables users to participate in the Marinade DAO. To engage in the governance process, you must mint a 'Chef NFT' by locking MNDE tokens for a minimum of 30 days. As an MNDE token holder, you can participate in the protocol's governance, including control over the DAO's fees and treasury.
