Marinade Finance

Introduced in 2021, Marinade Finance is a liquid staking platform built on Solana that allows users to generate yield from SOL tokens. Users can stake SOL to protect the Solana network and maintain its decentralization, receiving marinated SOL, or mSOL, as a reward. Users’ mSOL balances rise as the foundational SOL accrues staking rewards. Marinade users can utilize mSOL throughout the Solana ecosystem and stake it for extra rewards or convert it to SOL whenever they wish. The Marinade ecosystem operates under a DAO that utilizes the MNDE token, which can be staked to create Chef NFTs that are utilized for voting. As of November 2022, Marinade’s network has more than 450 validators.