mSOL is a token within the Marinade ecosystem. Marinade is a non-custodial liquid staking protocol that gives users access to passive income. Built on Solana, it enables network participants to stake their SOL tokens while using Marinade’s automated staking strategies. The goal is to boost activity across DeFi protocols on Solana by encouraging staking. When users stake through the platform, they receive mSOL tokens that can be used to interact with DeFi applications.

The wider Marinade ecosystem also includes the Marinade DAO. MNDE is another token in the ecosystem, and it’s used for network governance-covering participation in the Marinade DAO, protocol development decisions, and the Marinade Treasury.

What are Marinade’s key features and how does it work?

To use Marinade, users lock their SOL tokens into smart contracts. In return, they receive an equivalent amount of mSOL. Since mSOL is a derivative of SOL, its price is determined based on SOL and is designed to rise in line with SOL’s price.

mSOL also carries the same general utility as SOL, meaning it can be used similarly. That includes connecting to other decentralized finance protocols on the Solana network. Users can therefore put SOL to work for passive income on Marinade while still using mSOL to access DeFi.

Rewards come from staking SOL. For instance, the longer SOL remains staked, the greater the return realized when it is later unstaked and redeemed. Users can withdraw staked SOL at any time with a small fee, or redeem fee-free after an unlock period of 1-2 epochs. mSOL and SOL are also tradable on secondary markets at the prevailing market rate.

As mentioned, the DAO is a central part of Marinade and is designed to make governance community-driven. MNDR token holders can submit proposals and vote on protocol updates. Approved governance changes are then executed on-chain through smart contracts, aiming to keep the process secure and transparent. Users can also join DAO-related activities through the platform’s Discord governance channel.

Where can you buy mSOL?

MSOL can be bought and traded on the CEXs and DEXs listed here. The most widely used platforms with the highest liquidity are FTX Spot, Gate.io, and Kraken. mSOL pricing may differ by exchange and broader market conditions. For the latest and historical mSOL market figures, check the price charts on this page.