BlocksInform
- Marinade finance will reward holders of solana that ground piles through its liquid protocol.
- The incentive program will continue over the next 12 months, providing up to 160 million chips for Aboriginal marinades.
- The objective is to increase solana tvl by 40 million soil, and liquid staking is essential to this.
Marinade Finance, a liquid staking platform that supports the Solana blockchain, is looking to bring more liquidity to the Solana ecosystem via a major incentive program.
The protocol noted in an announcement that the program “Open Doors” is designed to incentivise Solana builders, validators and wallets into increasing the blockchain platform’s asset liquidity.
As a result, marinade seeks to offer rewards in the form of its tokens to users that help increase solana's total locked value (DVT) on protocol.
12-month incentive program from Marinade Finance to Solana.
Next 12 months or so, Users can win a portion of the 160 million Marinade (MNDE) chips when they deposit SOL for mSOL, Whatever cash they get in return. The objective is to obtain $40 million for msol, a scenario which could considerably increase the liquidity of the ecosystem and contribute to decentralization.
Currently, only 2-3% of SOL is reportedly in liquid staking, which makes the plan to have more brought into the ecosystem crucial for Solana. That's because the stakes are not part of Solana's challenge. However, the liquid issue of msol only does as it flows through various protocols.
As far as decentralization is concerned, marinade supports hundreds of validators through its delegating strategy.
“For Solana DeFi to rebound stronger, more $SOL (LOTS MORE) must be made liquid. Those who contribute this through $mSOL, on their protocols, or via the referral program will be rewarded with direct Marinade ownership,” the Marinade team said.
According to data from DeFiLlama, the Solana chain has about $278 million in TVL as of 25 January 2023, down from over $10 billion in November 2021. More than 53% of the total tvl on this channel is on marinade funding, while lido liquid staking represents the second most important share.
