Solana Liquid Staking Tool Marinade Looks to Bolster Its Token Value With Staked SOL Capture
The market leader for Solana-based liquid staking derivatives, Marinade Finance is dangling its governance token MNDE as a carrot to kickstart a crypto economy for its iteration of staked SOL. On Tuesday, Marinade said it will hand out 160 million MNDE tokens to protocols and validators in exchange for them depositing up to 40 million SOL tokens into Marinade’s liquid staking solution, which at $144 million in total value locked (TVL) is Solana’s biggest DeFi protocol. If all goes to plan, this “Open Door” could boost Marinade’s TVL sevenfold, Marinade developers told CoinDesk. They want to dr