Earn 6.9% APY staking with Solana Compass
Help decentralize and secure the Solana network delegating your stake to us and earn an impressive 6.9% APY yield on your SOL, while supporting us to create new guides and tools. Learn more
Earn 6.9% APY staking with Solana Compass
Help decentralize and secure the Solana network delegating your stake to us and earn an impressive 6.9% APY yield on your SOL, while supporting us to create new guides and tools.
Introducing Marinade Finance
Marinade Finance is a non-custodial liquid staking protocol built on Solana. Designed for users who want to stake their SOL tokens and participate in decentralized finance (DeFi), Marinade provides a seamless experience through automated staking strategies, with no lockup periods and immediate access to staking rewards. By staking your SOL with Marinade, you'll receive marinated SOL tokens (mSOL), which represent your share of staked SOL and can be used throughout the DeFi ecosystem.
Liquid Staking with mSOL
mSOL is the liquid staking token you receive when staking SOL through the Marinade protocol. It represents your staked SOL tokens in Marinade's stake pool and acts as a receipt, allowing you to exchange mSOL back for your staked SOL and earned rewards later on. mSOL tokens can be used within the DeFi space while their value accrues relative to SOL as staking rewards are earned.
The price of mSOL increases with each epoch, as rewards are distributed for the SOL staked in the protocol. If you hold mSOL for a year, its value against SOL is expected to gain 7-8%, giving you an attractive passive income opportunity.
Benefits of Staking SOL with Marinade
Using Marinade to stake your SOL grants you several advantages:
- Full control over your tokens and associated accounts: Marinade is a non-custodial solution that never compromises your control over your assets.
- Unlock your stake and receive a tokenized version: By receiving mSOL in exchange for staking SOL, you can use staking positions in DeFi without sacrificing rewards.
- Open-source and permissionless delegation formula: Marinade's protocol is transparent, with over 450 validators participating.
- Stake and delayed unstake with no charge: Enjoy the freedom to stake and unstake without fees.
- Native Solana community-driven governance: The Marinade ecosystem is strengthened by its community and contributor-centric approach to governance.
Additional DeFi Opportunities with mSOL
Through Marinade, you can use your mSOL tokens to access additional DeFi yields on top of regular staking rewards. Some popular ways to utilize mSOL in DeFi include:
- Borrowing and lending on multiple platforms
- Providing liquidity in various pools
- Single-asset staking to earn Marinade's governance token
- Trading on decentralized and centralized exchanges
Marinade Decentralizer: Non-Custodial Delegation for Stake Account Owners
For users who wish to maintain full ownership of their stake accounts, Marinade offers the Decentralizer. It’s a public goods tool that allows users to delegate the management of their stake accounts while keeping full control of the withdraw authority. While users will not receive mSOL or participate in DeFi, their stake will be spread and diversified automatically according to their preferences, removing the need to monitor and manage their delegation strategy.
Frequently Asked Questions
How can I stake SOL with Marinade and receive mSOL?
A: To stake your SOL and receive mSOL, visit the Marinade Finance platform, connect your wallet, and follow the steps provided. You can withdraw your SOL anytime by unstaking and waiting for the unlock period (1-2 epochs) or immediately with a small fee.
Do I need to claim my staking rewards manually?
A: You will receive SOL staking rewards when you unstake mSOL. If you choose delayed unstake, you will need to return to the Marinade DApp to claim your SOL. If you choose instant unstake, your SOL and rewards (minus the liquidity pool fee) will be sent to your wallet immediately.
Is mSOL safe?
A: Marinade's protocol prioritizes safety, and the tokenomics of mSOL ensures that your SOL investment grows as long as the protocol earns staking rewards. The protocol undergoes regular audits to ensure its security, and the delegation strategy prioritizes network decentralization.
What can I do with mSOL in DeFi?
A: mSOL can be used in a variety of DeFi use cases, including borrowing and lending, liquidity provision, single-asset staking, and trading on both decentralized and centralized exchanges.
How does Marinade's Decentralizer work?
A: The Decentralizer handles the management of your stake accounts while leaving the withdraw authority under your control. By automating your stake accounts' delegation, your preferences are taken into account, and your risk is spread across numerous validators without the need for you to manage it manually.
To wrap up, Marinade Finance offers a unique and accessible way to participate in Solana's liquid staking ecosystem. By leveraging the power of mSOL and the DeFi opportunities that come with it, users can enjoy passive income while contributing to the security and decentralization of the Solana network. With the added flexibility of Marinade's Decentralizer, users can retain full ownership of their stake accounts and benefit from automated stake management.
- Introducing Marinade Finance
- Benefits of Staking SOL with Marinade
- Marinade Decentralizer: Non-Custodial Delegation for Stake Account Owners
- Frequently Asked Questions