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Marinade Staked SOL

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Discover Marinade Staked SOL's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Marinade Staked SOL?

Marinade Staked SOL (mSOL) is a liquid staking token that represents staked SOL tokens in the Marinade stake pool. It is a tradeable receipt that accrues staking yield and is redeemable 1:1 for SOL. mSOL allows users to access DeFi protocols while earning staking rewards, helping to decentralize and secure the Solana network.

How is Marinade Staked SOL used?

Marinade Staked SOL (mSOL) is a liquid staking token received when staking SOL on the Marinade protocol. It represents your staked SOL tokens in Marinade's stake pool and acts as a receipt, allowing you to exchange mSOL for your staked SOL and earned rewards later on. The value of mSOL increases with each epoch as staking rewards are distributed, providing a passive income opportunity. mSOL can be used in various DeFi applications, such as:

  • Borrowing and lending: mSOL can be used as collateral or borrowed on multiple platforms.
  • Liquidity provision: mSOL is used in liquidity pools, including mSOL/SOL pools and mSOL/XXX pools, which can be subject to impermanent loss.
  • Single-asset staking: mSOL can be staked to earn Marinade's governance token, MNDE.
  • Trading: mSOL is available on decentralized and centralized exchanges, allowing users to trade it for other crypto tokens.

These uses enable users to access DeFi protocols while enjoying their staking rewards and contributing to the network's security and decentralization.

How do I store Marinade Staked SOL?

To store Marinade Staked SOL (mSOL) tokens, you can use a variety of methods:

  1. Hardware Wallets: Any hardware wallet supporting Solana and SPL tokens will also support mSOL. You can send your mSOL to the Solana address of your hardware wallet and manage your funds from it. For Ledger users, you need to connect your Ledger to a browser-extension wallet to see and manage all your SPL tokens and NFTs.

  2. Wallets with Browser Extensions: You can use wallets like Phantom or Solflare to manage your mSOL. These wallets allow you to connect to DeFi protocols and manage your tokens.

  3. Centralized Exchanges: mSOL is available on centralized exchanges like Coinbase, Kraken, or Gate. You can store your mSOL on these exchanges, but be aware that you will not have full control over your tokens.

  1. Decentralized Exchanges: mSOL can be stored on decentralized exchanges (DEXs) where you can use it for trading or liquidity provision. This allows you to maintain control over your tokens while still utilizing them in DeFi.

  2. DeFi Protocols: You can use mSOL as collateral or borrow it on multiple DeFi platforms. Additionally, you can provide liquidity on various pools using mSOL, which can help you earn additional rewards.

Remember to always follow best practices for securing your wallet and tokens to avoid potential risks.

How to buy Marinade Staked SOL?

To buy Marinade Staked SOL (MSOL) tokens, follow these steps:

  1. Choose a Centralized Exchange:

    • Select a reliable and trustworthy crypto exchange that supports MSOL purchases, such as Coinbase or KuCoin.
    • Consider the ease of use, fee structure, and supported payment methods when choosing an exchange.
  2. Create an Account:

    • Enter the required information and set a secure password.
    • Enable two-factor authentication (2FA) for added security.
  3. Verify Your Identity:

  • Complete Know-Your-Customer (KYC) verification, which may require providing identification and proof of address.
  1. Add a Payment Method:

    • Follow the exchange's instructions to add a payment method, such as a credit/debit card, bank account, or wire transfer.
  2. Buy MSOL:

    • Navigate to the MSOL market on the exchange.
    • Enter the amount you want to buy in your local currency.
    • Confirm the purchase and ensure all details are correct.
  3. Finalize the Purchase:

  • Once the order processes, you will be taken to a confirmation screen.
  • Your MSOL tokens will be added to your exchange account.

Alternatively, you can also buy MSOL through a crypto wallet if it supports direct fiat-to-crypto purchases. If not, you can first buy a popular cryptocurrency like USDT and then exchange it for MSOL.

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History of Marinade Staked SOL

Marinade Staked SOL (MSOL) is a liquid staking token that represents staked SOL tokens in Marinade's stake pool. It was introduced by Marinade Finance, a protocol that allows users to stake their SOL tokens and earn rewards while maintaining liquidity in the DeFi ecosystem.

MSOL tokens are minted when users stake their SOL tokens on the Marinade protocol. These tokens act as a receipt, allowing users to exchange them for their staked SOL and earned rewards. The value of MSOL is recalculated after each Solana epoch (2-3 days), based on the staking rewards earned by the Marinade Stake Pool. This means that the price of MSOL increases each epoch relative to SOL as long as staking rewards are distributed for the SOL staked in the protocol.

MSOL tokens have various use cases in DeFi, including borrowing and lending, liquidity provision, single-asset staking, and trading on decentralized and centralized exchanges. Users can also use MSOL to earn additional rewards by staking it to earn MNDE, Marinade's governance token.

The history of MSOL is closely tied to the development of Marinade Finance and its integration with the Solana DeFi ecosystem. As the protocol continues to evolve, the use cases and value of MSOL are expected to grow, potentially replacing SOL throughout the Solana DeFi ecosystem.

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How Marinade Staked SOL works

Marinade Staked SOL (mSOL) is a liquid staking token that represents your share of staked SOL tokens within Marinade's stake pool. When you stake your SOL tokens with Marinade, you receive mSOL tokens, which act as a receipt for your staked SOL. This allows you to maintain liquidity while still earning staking rewards.

Key Features of mSOL
  • Liquidity: mSOL tokens can be used in various DeFi applications, such as borrowing, lending, and providing liquidity in pools, without sacrificing staking rewards.
  • Value Appreciation: The price of mSOL increases over time as staking rewards are distributed, providing an attractive passive income opportunity. For example, holding mSOL for a year is expected to yield a 7-8% gain in value relative to SOL.
  • Instant Unstaking: Marinade offers the option to unstake your SOL immediately, although this comes with a small fee. Alternatively, you can wait for the standard unlock period of 1-2 epochs.
  • Decentralized Governance: Marinade's ecosystem is strengthened by its community-driven governance, ensuring that the protocol is transparent and permissionless.
Benefits of Using mSOL
  • Flexibility: mSOL tokens can be used in multiple DeFi applications, providing users with a range of yield-earning opportunities.
  • Passive Income: The value of mSOL increases over time, offering a passive income stream.
  • Decentralized Control: Marinade is a non-custodial protocol, ensuring that users maintain full control over their assets and associated accounts.
Additional Resources

For more information on Marinade and mSOL, you can refer to the following resources:

  • Marinade Finance Website: Provides detailed information on the protocol, its features, and how to use mSOL.
  • Marinade Documentation: Offers in-depth explanations of the protocol's mechanics, including liquid staking and governance.
  • YouTube Tutorials: Seb Montgomery's Solana School videos provide step-by-step guides on using Marinade and mSOL.
  • Reddit Community: The Solana subreddit has discussions and FAQs about Marinade and mSOL, including user experiences and tips.
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Marinade Staked SOL's strengths

Marinade Staked SOL (MSOL) has several strengths that make it an attractive option for investors and users:

  1. Liquid Staking Token: MSOL is a liquid staking token that allows users to stake their SOL tokens and participate in decentralized finance (DeFi) without sacrificing rewards. This liquidity enables users to access DeFi protocols while earning staking rewards.

  2. Rewards-Accruing Token: The value of MSOL increases with each Solana epoch (2-3 days) as staking rewards are distributed. This means that if you hold MSOL for a year, its value against SOL is expected to gain 7-8%, providing a passive income opportunity.

  3. Non-Custodial Solution: Marinade is a non-custodial protocol, ensuring that users maintain full control over their tokens and associated accounts. This transparency and control are crucial for users who want to manage their assets securely.

  1. Open-Source and Permissionless Delegation: Marinade's protocol is open-source and permissionless, allowing over 450 validators to participate and ensuring that the staking process is transparent and community-driven.

  2. Flexibility in Unstaking: Users can unstake their SOL and receive their rewards without fees, or they can choose delayed unstake with a small fee. This flexibility allows users to manage their staking positions according to their needs.

  3. Integration with DeFi: MSOL can be used in various DeFi protocols, including borrowing and lending, liquidity provision, single-asset staking, and trading on decentralized and centralized exchanges. This integration expands the utility of MSOL and provides users with multiple ways to earn additional rewards.

  1. Community-Driven Governance: Marinade's ecosystem is strengthened by its community-centric approach to governance, ensuring that the protocol is responsive to user needs and continues to evolve to meet the demands of the DeFi space.

These strengths make MSOL an attractive option for users who want to stake their SOL tokens and participate in DeFi while maintaining control over their assets and earning passive income.

Marinade Staked SOL's risks

Marinade Staked SOL (mSOL) carries several risks, including:

  1. Smart Contract Risk: There is a risk of smart contract hacks or bugs that could compromise the security of the mSOL token and the Marinade protocol.

  2. Platform Risk: The failure of Marinade or the LP provider could result in losses. This includes the possibility of a rug pull or a bug in the smart contract.

  3. Regulatory Risk: The regulatory environment for staking and staking providers is still unclear, which could lead to changes in how mSOL is used or perceived.

  1. Impermanent Loss: When providing liquidity to a liquidity pool (LP) with mSOL and SOL, there is a risk of impermanent loss due to price fluctuations between the two tokens.

  2. Unpredictable Yield: The yield from staking can be difficult to predict and may change over time, affecting the value of mSOL.

  3. Wallet and Ledger Integration: Currently, some wallets and ledger systems do not fully integrate with Marinade Native, which may require users to interact with the dApp directly.

  1. Fees: Users pay fees on rewards and instant unstaking, which can reduce the overall yield.

Despite these risks, Marinade has undergone audits to ensure the security of its protocol, and mSOL has received a low risk rating from InvestorsObserver analysis.

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Marinade Staked SOL's ecosystem

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Marinade Staked SOL’s team

  • Lucio Tato: CTO of Marinade Finance, a seasoned engineer with close ties to the Solana Foundation.
  • Brandon Tucker: Member of the Core Team at Marinade Finance, involved in founding and developing the protocol.

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