What Is Marinade Staked SOL (MSOL) How It Works & Where To Buy It?

Marinade is an innovative liquid staking protocol built on Solana. It utilizes automatic staking strategies so users can get the best yields for their SOL tokens. The protocol’s staking rewards are distributed in MSOL tokens.

MSOL is the native reward token, and MNDE token is the governance token of the protocol. Marinade Finance leverages the functionality of the Solana blockchain to offer its unique decentralized staking services to users.

The MSOL token is currently the 138th largest cryptocurrency by market capitalization.

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How Marinade Finance and MSOL Works

Marinade Finance has quickly grown to become one of the largest decentralized particles in the Solana ecosystem. It offers users a unique way to stake Solana, earn rewards, and still be able to use their tokens in DeFi.

One of the largest issues when staking tokens is losing the functionality of being able to use them. Marinade Finance changes this entire system by allowing users to earn MSOL tokens which can be easily traded and used to participate in DeFi products.

This provides users with a lucrative way to continue earning when participating in decentralized products and not have to wait, spending tedious amounts of time waiting for ”unstaking”.

The decentralized protocol has rapidly grown in popularity and has now become one of the largest applications used in the Solana ecosystem. The protocol is governed by the MNDE token, and users who stake SOL on the protocol receive MSOL tokens.

Essentially, when you stake your SOL tokens, you receive a tokenized version of the asset you’ve staked (MSOL) – the assets you receive can then be used for participating in DeFi – making the investment ”liquid”.

Users can also earn rewards in other lucrative ways; users can become validators or run a node which helps to secure the network and the protocol. It also benefits users because they receive rewards for their network contributions.

Security plays a vital role in decentralized protocols and that is why users that contribute to securing the network are generously rewarded. The functionality of the protocol, and important updates to the protocol, are handled by the Marinade decentralized autonomous organization (Marinade DAO).

Users seeking more detailed, and in-depth information about how the first liquid staking protocol on Solana operates, should refer to the Marinade Finance whitepaper.

What Is Marinade Stake SOL (MSOL) Used For?

Marinade Finance allows users to earn yields from their Original SOL tokens, these yields are accrued epochs, and rewards are distributed in MSOL tokens. Marinade Finance is the first protocol in the Solana ecosystem that makes staking Solana (SOL) unique in the sense that the staked asset is still liquid.

The decentralized protocol leverages the security, efficiency, and credibility of the Solana Network to achieve optimal functionality. Users can easily start participating by staking SOL on the protocol and earning lucrative rewards every epoch. The protocol is non-custodial, which adds an enhanced layer of security and credibility to Marinade.

Additionally, swing and arbitrage traders aim to capitalize on price fluctuations in cryptocurrencies. These fluctuations occur most often when trading volumes are at their highest, leading to significant volatility in the particular cryptocurrency. These types of strategies are very risky but can be incredibly profitable.

Where To Buy Marinade Staked SOL (MSOL) Token

MSOL and MNDE tokens have been popularly traded cryptocurrencies in recent months. As the Solana foundation and project have grown in popularity, so has the liquid staking protocol.

MSOL tokens are commonly traded on most centralized crypto exchanges. Before you’re able to purchase MSOL, you’ll need to deposit fiat money onto an exchange; sequentially, MSOL tokens will then be credited to your digital wallet on the exchange.

The crypto exchanges below are amongst the safest place where you can buy, sell and store tokens.

It should be noted that MSOL follows the price of SOL tokens, and the Marinade Staked SOL price will therefore always be the same as the price of SOL on exchanges. This will always be the case unless an event occurs that changes this and decouples the mechanism.

It is strongly advised to move tokens away from centralized exchanges since doing so allows consumers full control over their crypto assets and private keys.

None of the abovementioned information is investment advice.

About Marinade Staked SOL (MSOL)

How long has Marinade Staked SOL (MSOL) existed?

The Marinade protocol initially started in 2021. It was funded directly by the Solana Foundation and Serum; interestingly, no venture capital firms contributed to the funding of the protocol.

What’s controversial about Marinade Finance and MSOL?

In the majority vast majority of countries, the cryptocurrency sector is infamously unregulated and controversial. Users should always exercise caution before investing and familiarize themselves as much as possible with the basics of cryptocurrencies and blockchain.

Numerous fraudulent projects are launched to prey on uninformed customers who don’t do enough research before investing. It’s advised that any person never invest more money than they can afford to lose.

Let’s take a look at the top controversy surrounding Marinade Finance and (MSOL):

Potential Exploit Risk – Decentralized protocols are widely affected by large exploits and hacks. The marinade protocol has managed to avoid any exploits, but the DeFi sector remains largely risky and susceptible to hacks.
Users staking the SOL tokens on the platform is risky because decentralized platforms are unregulated, and in the event of an exploit, it is very difficult to hold anyone accountable.

How many Marinade Staked SOL (MSOL) Tokens are there?

At the time of writing, Marinade Staked SOL (MSOL) has a circulating supply of 6,591,533

The total supply of Marinade Staked SOL (MSOL) is 6,591,533

Can Marinade Staked SOL (MSOL) be mined?

MSOL tokens can’t be mined. MSOL tokens are available to trade on various exchanges and decentralized exchanges.

Users can utilize DeFi products on various decentralized exchanges to earn an LP token which can further be traded for a profit. The price of MSOL follows the price of Solana tokens (SOL).

What is the market cap of Marinade Staked SOL (MSOL)?

The market cap of Marinade Staked SOL (MSOL) is: the total amount of coins in circulation x the current market price of MSOL.

Marinade Staked SOL (MSOL) Market Cap = 6,591,533 MSOL x $38.65 = $255 million (138th largest market cap)

MSOL is currently one of the top 150 cryptocurrencies by market capitalization.

Biggest Competitors Of Marinade Finance and Marinade Staked SOL (MSOL)

Marinade Finance has quickly established itself as one of the most popular staking protocols in the Solana ecosystem. However, it still has some competition, even though it provides users with very unique value proponents.

Marinade Finance’s biggest competitor is:

Lido

What Are The Future Plans of Marinade Finance and Marinade Staked SOL (MSOL)?

Marinade Finance will focus on growing user adoption and increasing utility for its governance token, providing individuals with an enjoyable user experience and a lucrative way to earn yields on their SOL token.

The protocol has performed incredibly well over recent months, and as the Solana blockchain project increases in popularity, so will decentralized protocols that help users earn yields from their SOL tokens.

Pros And Cons Of Marinade Finance and Marinade Staked SOL (MSOL)

Pros:

Liquid Staking – The protocol offers token holders an innovative way to earn yields on their tokens. Instead of needing to lock up their tokens for a duration without being able to use them, users are distributed MSOL tokens that represent their invested SOL tokens. These tokens can be used to participate in various DeFi products, making the investment ”liquid”.
MSOL Listed On Large Exchanges – MSOL is listed on most major crypto exchanges, including FTX, BitMart, and Kraken. These listings help the Marinade Finance project benefit from enhanced exposure and lead to higher trading volumes for the MSOL token. Additionally, listings on major exchanges also help to improve the credibility of a project in the eyes of the greater crypto community.
Leading Project In The Solana Ecosystem – The Solana ecosystem has grown exponentially in recent months. This growth can be attributed to superior functionality, an influx of developers, and various other value proponents that the blockchain offers users. Marinade Finance has grown to become one of the leading projects in the Solana ecosystem and has seen a significant rise in the number of users utilizing the platform.

Cons:

Potential Risk – Decentralized protocols offer users an array of benefits, such as being able to earn yields from the tokens they stake. Marinade Finance is one of the leading liquid staking protocols and has grown from strength to strength in recent months. However, protocols like Marinade Finance are especially susceptible to exploits and hacks.
Events like this can lead to a significant decline in both the token price and the trust of users. Individuals that are making use of decentralized platforms should always exercise caution. This is mainly because these types of platforms are largely unregulated, and should an exploit occur, it will be incredibly difficult to hold anyone accountable.
Restricted To Solana – The decentralized protocol is largely restricted to the Solana Network and ecosystem. This poses a significant risk because if the Solana blockchain becomes less popular and users migrate to another blockchain, it would have a significantly negative impact on the Marinade Finance project.