Marinade (MNDE)

Staking

Marinade lets users stake their SOL tokens on the Solana blockchain using an automated strategy that picks over 100 top-performing validators. This helps secure and decentralize the Solana network while earning staking rewards.

Liquid Staking

Instead of locking up SOL, Marinade gives users mSOL tokens, a liquid version of staked SOL. These mSOL tokens can be used in the Solana DeFi ecosystem for activities like providing liquidity, lending, or buying NFTs, allowing users to keep their funds active while earning rewards.

Governance

Marinade has a governance token called MNDE. Holders can participate in voting and decision-making for the protocol, helping guide its future development and validator selection.

Capital Efficiency

By turning staked SOL into mSOL, Marinade improves capital efficiency, letting users earn staking rewards and still use their tokens in other decentralized finance applications without waiting for unstaking periods.

Pros of Marinade

• Liquid Staking: Converts staked SOL into mSOL, a token you can use in DeFi, lending, or trading while still earning staking rewards.
• Automated Validator Delegation: Stakes SOL across 100+ top-performing Solana validators to maximize rewards and support decentralization.
• No Lockup on mSOL: You can trade or use mSOL anytime without waiting for unstaking periods.
• Native Staking Option: Allows staking SOL directly with validators without smart contract risks, keeping funds in your wallet.
• Integration: Works with many wallets, exchanges, and DeFi platforms, making it easy to use.
• Governance Token (MNDE): Lets holders participate in protocol decisions and earn rewards.

Cons of Marinade

• Smart Contract Exposure (for liquid staking): Using mSOL involves smart contracts, which can have vulnerabilities.
• mSOL Price Volatility: The value of mSOL can fluctuate relative to SOL due to its derivative nature.
• Fees: Small fees may apply for instant unstaking or certain services.
• Dependency on Solana Network: Performance and rewards depend on Solana’s network health and validator performance.
• Market Influence: Large holders ("whales") can impact MNDE token price and staking dynamics.

Overall, Marinade offers flexible and efficient staking on Solana with liquid options but involves typical DeFi trade-offs like smart contract exposure and token volatility.

Founders of Marinade

Marinade was founded by Marco Broeken and Lucio Tato in 2021. They created Marinade to provide a liquid staking solution on the Solana blockchain, allowing users to stake SOL tokens while maintaining liquidity through the mSOL token.

Investors in Marinade

• Marinade does not have traditional venture capital or private investors backing it.
• The MNDE token was distributed transparently to early users, protocol builders, and contributors.
• Marinade is governed by a Decentralized Autonomous Organization (DAO), meaning the community and token holders participate in decisions.
• Some known supporters include Solana Incubator, Miton, and Big Brain Holdings, which have invested in the project.
• The project emphasizes decentralization and community-driven growth rather than relying on big private investors or token sales.

Halal Status of Marinade

• Yes, Marinade is generally considered halal by many Islamic finance perspectives because it operates as a liquid staking protocol on the Solana blockchain without involving interest (riba) or gambling elements.
• It focuses on staking SOL tokens, which some scholars view as permissible since it supports network security and decentralization.
• However, as with all cryptocurrencies, the halal status can depend on how the token is used and individual scholarly opinions.

For a definitive ruling, consulting a qualified Islamic scholar familiar with crypto and DeFi is recommended.