The Block • Mar 18, 24
Dogwifhat memecoin’s iconic photo sold as NFT for $4.3 million
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Create a Coinbase account to buy and sell Marinade Staked SOL on the most secure crypto exchange.
$1.2B
$93.8M
5.3M MSOL
7 days
#208
$253.02
-2.95%
-9.08%
+24.84%
Earn free crypto after making your first purchase. Terms apply.
Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
mSOL tokens represent SOL tokens staked using the Marinade.Finance liquid staking protocol. Marinade.Finance users receive mSOL tokens that accrue staking rewards upon staking SOL tokens. Since mSOL tokens are liquid, they can be used to participate in DeFi across the Solana ecosystem.
Marinade Staked SOL (MSOL) is a product of Marinade.finance, a liquid staking protocol built on the Solana blockchain. MSOL is a tokenized representation of staked SOL tokens within the Marinade ecosystem. Users stake their SOL tokens with Marinade, which employs automated staking strategies to delegate the SOL to validators. In return, users receive MSOL tokens that they can utilize within the decentralized finance (DeFi) space or swap back to original SOL tokens at any time. The protocol aims to enhance the utility of SOL tokens by allowing them to be staked and used simultaneously, thereby contributing to the security and decentralization of the Solana network.
Marinade Staked SOL operates through a process known as liquid staking. Users stake their SOL tokens with Marinade, which then delegates these tokens to a pool of high-performing Solana validators using an automated staking strategy. In return, users receive an equivalent value of MSOL tokens. The price of MSOL increases relative to SOL with each Solana epoch as inflation rewards are accrued into the underlying staked SOL in the Marinade stake pool. Users can withdraw their SOL by unstaking and waiting for the unlock period or, if liquid staking, immediately with a small fee. MSOL tokens can also be exchanged directly for SOL on secondary markets at the current market rate.
Marinade Staked SOL (MSOL) seeks to provide users with the ability to participate in the DeFi space while simultaneously staking their SOL tokens. This dual functionality aims to increase the utility and flexibility of SOL tokens. Users can stake their SOL tokens in exchange for MSOL, which can then be used in various DeFi applications. Additionally, MSOL holders can participate in the Marinade DAO governance, influencing the future direction of the protocol. MSOL tokens can also be exchanged directly for SOL on secondary markets, providing additional liquidity options for users.
Marinade.finance, the protocol behind Marinade Staked SOL (MSOL), was founded through Solana ecosystem grants at the Solana Hackathon in 2021. The protocol launched its liquid staking protocol and the MSOL liquid staking token on the mainnet in August of the same year. The MNDE governance token was minted on November 7, 2021, as a fair-launch token with no Initial Coin Offering (ICO). In April 2022, Marinade launched on-chain DAO governance, and since then, all decisions related to the treasury have been voted on chain. In July 2023, the DAO migrated its governance platform to Realms, enabling direct control of the treasury and protocol decisions by MNDE holders.
Yield farming is a strategy that involves staking or lending cryptocurrency assets on a decentralized finance (DeFi) platform with the aim of potentially receiving additional cryptocurrency. This approach has gained attention due to its applications in liquidity mining, a process that involves lending crypto assets to a decentralized exchange in return for non-monetary incentives. Yield farming enables participants to contribute to liquidity by placing coins or tokens in a decentralized application, thereby providing liquidity to various token pairs. Some examples of these are cryptocurrency wallets, decentralized exchanges (DEXs), and decentralized communication platforms. Participants typically rely on DEXs to lend, borrow, or stake coins, an activity that allows them to receive non-monetary incentives and observe price fluctuations. Smart contracts across DeFi facilitate yield farming. Various protocols are utilized within the yield farming landscape.
When participating in the Marinade Staked SOL program, like any other cryptocurrency program, there are certain risks and considerations to be aware of. One of the primary risks is the smart contract risk that comes with liquid staking and engaging in DeFi. This risk is due to the potential for exploits or the inability to access assets because of issues with the smart contract. Another consideration is the charges that come with the program. Users incur charges on rewards and instant unstaking. This is a common practice among all liquid staking providers. The integration of wallets and ledgers with Marinade Native is not yet fully established. This means that users have to interact with the dApp directly. Finally, the outcomes from participation can be unpredictable and constantly changing. This could affect the anticipated non-monetary outcomes. It's crucial for users to understand these risks and considerations before participating in the Marinade Staked SOL program.
The Annual Percentage Rate (APR) for MSOL staking is determined by a formula that considers several factors. This formula includes the total supply of MSOL, the network's inflation rate, the ratio of bonded tokens, and the validator's commission fee. The formula is as follows: APR = ((Fees + Non-monetary Rewards / Principal) / n) * 365 * 100, where Non-monetary Rewards are the total non-financial incentives received over the period, Principal is the initial amount staked, and n is the number of days in the staking term. It's important to note that this calculation primarily considers the inflation factor on a blockchain. Therefore, the total non-financial incentives a user receives may exceed the APR's projection when the network's transaction processing incentives are distributed.
Users have the option to unstake their SOL from Marinade either immediately or by waiting until the conclusion of the next epoch. For immediate unstaking, a charge is applied which can range from 0.1% to 9%, this is dependent on the total liquidity in the Marinade pool and the amount being unstaked. If the liquidity in the Marinade pool remains at the target of 56,000 SOL after unstaking, the charge will be 0.1%. However, if the liquidity drops below this target, the charge is calculated using a specific formula. Users also have the option to unstake without incurring a charge by waiting for the next epoch to end, this typically takes between 1-2 days. After unstaking, users can retrieve their SOL and non-monetary incentives.
When participating in the Marinade Staked SOL program, users may have the opportunity to receive several incentives and rewards. Users have the option to stake their SOL tokens and in return, they may receive non-monetary incentives for validating the Solana network. This process strives to allow users to maintain liquidity with mSOL, a derivative token that represents their staked SOL. This mSOL token could potentially be used in various DeFi applications, aiming to diversify the utility for the user. Marinade has an incentive program known as Marinade Earn, which provides non-monetary incentives to users for staking SOL and referring friends. These incentives are provided in the form of the native token MNDE, which governs Marinade's DAO. Users may also experience an automatic rebalancing of their staked assets, which seeks to enhance their staking experience without the need for manual intervention.
Obtaining non-monetary benefits through staking Marinade Staked SOL (MSOL) is a straightforward process. When you stake your SOL tokens with Marinade Finance, you obtain MSOL tokens in exchange. These tokens represent your share of the staked SOL in Marinade's stake pool. As non-monetary benefits are obtained from staking, the ratio of MSOL to SOL may vary. When you decide to unstake your MSOL, you can exchange it for an equivalent amount of SOL along with non-monetary benefits. If you choose the delayed unstake option, you will need to return to the Marinade platform to claim your SOL. If you opt for instant unstake, your SOL and non-monetary benefits (minus a small fee) will be sent to your wallet immediately. This process allows you to obtain non-monetary benefits from staking while maintaining accessibility to your tokens.
The Block • Mar 18, 24
Dogwifhat memecoin’s iconic photo sold as NFT for $4.3 million
Crypto trader Gigantic Rebirth Ventures (GCR) made the winning bid of 1,210.8 ETH on the Foundation platform.
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DL News • Mar 18, 24
Solana volume leapfrogs Ethereum as memecoin frenzy seen sending price to $415
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The Block • Mar 18, 24
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BeInCrypto • Mar 18, 24
Solana Skyrockets Past $200: Unveiling 3 Key Growth Drivers
Solana breaks the $200 mark, driven by its expanding DeFi ecosystem, record DEX volumes, and robust staking growth, signaling a strong market position and future potential.The post Solana Skyrockets Past $200: Unveiling 3 Key Growth Drivers appeared first on BeInCrypto.
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The Block • Mar 18, 24
Spot bitcoin ETFs reach record highs for weekly inflows and trading volume
Weekly net inflows into U.S. spot bitcoin ETFs reached a record $2.57 billion last week. Trading volume also hit a record $35.1 billion.
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A selection of cryptocurrencies in the top 50 by market cap.
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MSOL/CAD (Canadian Dollar)
CA$293.09
MSOL/GBP (British Pound)
£170.11
MSOL/JPY (Japanese Yen)
¥32,298.43
MSOL/INR (Indian Rupee)
₹17,948.98
MSOL/BRL (Real)
R$1,088.82
MSOL/EUR (Euro)
€199.05
MSOL/NGN (Nigerian Naira)
NGN 339,322.56
MSOL/KRW (South Korean Won)
₩289,397.20
MSOL/SGD (Singapore Dollar)
S$289.84
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The price of Marinade Staked SOL has decreased by 2.95% in the last hour and decreased by 9.08% in the past 24 hours. Marinade Staked SOL’s price has also risen by 24.84% in the past week. The current price is $216.43 per MSOL with a 24-hour trading volume of $93.77M. Currently, Marinade Staked SOL is valued at 14.46% below its all time high of $253.02. This all-time high was the highest price paid for Marinade Staked SOL since its launch.
The current circulating supply of Marinade Staked SOL is 5,305,934 MSOL which means that Marinade Staked SOL has as total market cap of 5,305,934.
We update our Marinade Staked SOL to USD currency in real-time. Get the live price of Marinade Staked SOL on Coinbase.
The current market cap of Marinade Staked SOL is $1.15B. A high market cap implies that the asset is highly valued by the market.
The all-time high of Marinade Staked SOL is $253.02. This all-time high is highest price paid for Marinade Staked SOL since it was launched.
Over the last 24 hours, the trading volume of Marinade Staked SOL is $93.77M.
Assets that have a similar market cap to Marinade Staked SOL include Bonk, WEMIX, Manta Network, and many others. To see a full list, see our comparable market cap assets.
The current circulating supply of Marinade Staked SOL is 5.3 million.
The median time that Coinbase customers hold Marinade Staked SOL before selling it or sending it to another account or address is 7 days.
Marinade Staked SOL ranks 259 among tradable assets on Coinbase. Popularity is currently based on relative market cap.
Currently, 50% of Coinbase users are buying Marinade Staked SOL. In other words, 50% of Coinbase customers have increased their net position in Marinade Staked SOL over the past 24 hours through trading.
Yes, Marinade Staked SOL is currently available on Coinbase’s centralized exchange. For more detailed instructions, check out our helpful how to buy Marinade Staked SOL guide.
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