Marinade Finance

Marinade Finance is the largest liquid staking protocol on Solana, enabling users to stake their SOL tokens while maintaining liquidity through the mSOL liquid staking token. By delegating SOL to Marinade, users receive mSOL which automatically accrues staking rewards over time and can be used across DeFi protocols simultaneously. Marinade's smart delegation strategy distributes staked SOL across hundreds of validators, promoting network decentralization while optimizing for staking yield. Unlike staking directly with a single validator, Marinade automatically rebalances delegation to high-performing validators and away from underperforming ones. This hands-off approach means users get optimized staking returns without needing to research and monitor individual validators. The mSOL token is deeply integrated across Solana DeFi — it can be used as collateral on lending protocols like Marginfi and Kamino, provided as liquidity on DEXs like Raydium and Orca, or held in wallets to passively accumulate staking rewards. This composability means users earn staking yield while simultaneously participating in other DeFi activities, maximizing capital efficiency. Marinade also offers Native Staking for users who prefer traditional staking without a liquid token, and the MNDE governance token gives holders voting power over protocol parameters. The protocol has consistently maintained one of the largest TVL positions in the Solana ecosystem.