Solana's DeFi resurgence boosts Marinade MNDE by 30%, energized by a fresh governance push
Exciting News and Developments for Marinade's MNDE Token
Marinade's MNDE token, the governance token for the Solana-based liquid staking protocol, saw an impressive 30% surge, reaching $0.17, after unveiling its latest features and incentives designed to boost community engagement and token utility. Here's the lowdown on what's been happening!
Timing is everything, and it seems the rally for MNDE can't simply be attributed to a single reason. However, several significant developments have surely contributed to the increased bullish sentiment.
First off, Marinade DAO approved MIP.11, a proposal to direct 40% of performance fees from the Stake Auction Marketplace toward MNDE buybacks. Once implemented, the DAO will be purchasing roughly 12% of MNDE's market cap annually, potentially adding steady buy pressure on the open market.
Moving on, BitGo expanded Solana staking with Marinade's Native integration, followed by the rollout of the highly-anticipated Instant Unstake feature for SOL, allowing users to skip Solana's cooldown period and withdraw their SOL instantly, enhancing user experience and liquidity flexibility.
The upgrades don't end there. Marinade also introduced a new Creator Rewards Program aimed at supporting content creators and community builders, clearly fostering a strong engagement and growth within the ecosystem. These exciting developments come after the implementation of MNDE-Enhanced Staking in late April, which gives MNDE holders a 10% share of SAM's performance fees.
It's not just Marinade that's shining—Solana's DeFi activity is experiencing a significant comeback as well. The total value locked on the network has surged more than 50% in the past month, climbing from $6.2 billion to $9.3 billion, as per DefiLlama, approaching the all-time highs set earlier in the year.
A key player in Solana's DeFi ecosystem, Marinade remains one of the largest liquid staking protocols, supporting both network security and DeFi liquidity with more than $1.85 billion in TVL. With MNDE as its backbone powering the DAO's governance decisions, these strategic updates bring deeper alignment between MNDE holders and the protocol's overall growth, reinforcing a positive feedback loop that strengthens both the token and the wider Solana DeFi ecosystem.
Sources:
- https://trading-republic.com/marinade-mndes-governance-token-surges-30-as-solana-defi-activity-rebounds/
- https://coinmarketcap.com/alexandria/article/marinade-finance-marinade-unlocks-instant-unstaking-of-solana-cooldown
- https://bravenewcoin.com/insights/reports/liquid-staking-and-solves-solanas-power-problem/
- https://thedefiant.io/data-dive-defi-tvl-hits-66b-eth-2-rushes-toward-the-merge-solana-top-5/
- The MNDE token, the governance token for the Solana-based liquid staking protocol Marinade, experienced a 30% surge to $0.17, driven in part by the approval of MIP.11, which directs 40% of performance fees from the Stake Auction Marketplace towards MNDE buybacks.
- Marinade also unveiled its Instant Unstake feature for SOL, allowing users to bypass Solana's cooldown period and withdraw SOL instantly, enhancing the user experience and providing increased liquidity flexibility.
- To foster community growth, Marinade announced a Creator Rewards Program aimed at supporting content creators and community builders.
- With these updates, MNDE holders now have a 10% share of SAM's performance fees through MNDE-Enhanced Staking, further aligning token holders with the protocol's overall growth.
- Solana's DeFi activity is also on the rise, with the total value locked on the network increasing more than 50% in the past month, approaching all-time highs, making Marinade, a key player in the Solana DeFi ecosystem, one of the largest liquid staking protocols, with over $1.85 billion in TVL.
