Overview

Financials

Liquid Staking

Native Staking

Stake Auction Marketplace

mSOL Token

MNDE Token

Marinade Finance is a liquid and native staking protocol built on the Solana blockchain. It allows users to stake their SOL tokens to earn rewards while maintaining liquidity and contributing to the decentralization of the Solana network.

### Marinade Revenue Sources

**Settlement Rewards:**  
Revenue earned through Marinade’s Stake Auction Marketplace (SAM), where validators bid for staked SOL. A performance fee is applied to successful bids, and a portion of this fee is routed to the Marinade DAO treasury. These **Settlement Rewards** account for the majority of Marinade's revenue.

**v1 Fees:**  
Legacy revenue from Marinade's original staking model. This includes a fee on staking rewards and dynamic unstaking fees when users opt for instant unstaking. No fees are Currently applied to deposits or withdrawals that wait through the full Solana unstaking period.


Marinade Treasury Revenue

Marinade: Revenue

**Marinade Stake:** Includes all active stake within stake accounts set to Marinade's stake authorities

**Total Network:** Includes all active stake within all other stake accounts on the solana network

Share of network staked with Marinade

Marinade: Network Staking Comparison

### Staking Rewards Comparison

This chart compares **total Solana staking rewards** to **Marinade’s share of staking rewards** across epochs.

While Solana staking rewards are distributed network-wide, Marinade earns a **portion of these rewards** through its delegated stake.

This view highlights **Marinade’s rewards** and how its performance trends alongside the total staking ecosystem.


Marinade vs Network Staking Rewards

Marinade: Network Reward Comparison

**Liquid Stake:** Includes all active stake within stake accounts set to Marinade's stake authorities

**Native Stake:** Includes all active stake within stake accounts set to Marinade's stake authorities

**Other LSTs:** Includes all active stake within stake accounts set to other LST's stake authorities

Stake distribution among Marinade Liquid, Native & other LSTs

Marinade: LST Staked Aggregate Comparison

Sourced from DefiLlama

Marinade: LST Yields

Includes liquid and native staking balances plus reserves

Marinade: Total TVL 

Validators bid to receive additional stake through the Marinade's Stake Auction Marketplace (SAM). These bids allow validators to increase their stake and earn more rewards.

Layer 1

Layer 2

Finance

Sectors

Consumer

Chain Clusters

ETFS

Marinade: Overview

Marinade: Revenue

Marinade: Total TVL

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