Our first step in the long journey of interaction
One of our main goal is to have direct interaction with protocols on SonarWatch, as we’ve explained in our last Monthly Update :
SonarWatch Monthly update 12.21
One month after the launch of the V2 and the introduction of the PRO plan, we’ve learned a few things, improved many…
Today is our first step on this journey, here is why we’ve chosen Marinade to be first in the list.
Staking is key
You didn’t heard this first here, it was said many times before and Solana documentation explains it very well but Staking is key
Staking on Solana | Solana Docs
Note before reading: All references to increases in values are in absolute terms with regards to balance of SOL. This…
Being part of the Solana ecosystem also means that you have a responsibility to make it more secure and reliable. For this reason, allowing our users to interact with Marinade staking made sense in a lot of ways.
At this moment, about 7+ million SOL are staked through Marinade, which in turn delegates these SOL tokens to more than 400 validators. This drastically helps improving the Nakamoto coefficient as well as it helps with network growth as Marinade stakes to new validators as well, totally skipping the top validators that collectively own more than 33% of the total staked SOL.
Marinade is one of the biggest protocol on Solana and they’ve completely changed the story about staking by making it more accessible, easy to understand and on top of it with a nice story around their product.
Staking SOL through Marinade gets you mSOL tokens in return that represent your staked SOL. The staked SOL would normally have been locked in a validator node, but now with the unlocked liquidity through mSOL, you can now both stake to a validator and use the staked funds to get more yield in the world of DeFi.
By integrating Marinades staking solution, we can be a part of the decentralization movement and really support the security and growth of the Solana network and the DeFi ecosystem.
We’ve always loved their branding and how they’ve built their product.
Plus, they are a super nice team!