Exodus attended a Solana Hacker House recently in Stockholm, and interviewed Sebastian, the Community Lead for Marinade Finance, one of the projects in attendance. They’re helping to secure Solana through liquid staking and have been working on on-chain governance recently.
Read on to learn Marinade's approach to liquid staking and governance, a trendy topic that’s the focus of their next product, and how to stake SOL on Marinade Finance.
Interview with Marinade Finance
Sebastian: My name is Sebastian, also called c2yptic (that’s my nickname), and I work as Marinade’s Community Lead but also help out with general communications as well.
Ash: Cool, so tell us a bit about Marinade.
Sebastian: Well, Marinade is a liquid staking protocol on Solana, the first one actually. We went on the mainnet in August last year.
What we do is liquify your stake. So if you want to stake to a validator, normally you lock your stake and can’t use it.
But with Marinade, you get mSOL in return when you stake to our stake pool, which you can use in the world of DeFi.
You can provide collateral to lending protocols, liquidity pools, etc. That’s essentially what Marinade does.
Ash: So why did you choose to build on Solana?
Sebastian: Me and many others in the Marinade team are very bullish on what Solana is building, the tech makes sense right?
Just looking at transaction speed and how Solana handles transaction load, there’s a massive difference from many other blockchains.
So for us, we’re bulls of Solana and also create value for it.
Ash: And why are you attending the Hacker House here?
Sebastian: Marinade had a pretty interesting journey since we launched, and mSOL, our stake derivative, is kind of the DeFi base layer of Solana at this point.
So it makes sense for us to come to these Hacker Houses all around the world and connect with the developers as plenty of people building DeFi protocols obviously have a high interest in how they can use mSOL.
Ash: What makes you different from other liquid staking protocols on Solana?
Sebastian: The main mission of Marinade is to make Solana more secure and decentralized.
With our liquid staking solution, stakes are delegated across more than 400 validators on the network. That’s the main difference between us and others, even though there are other stake pools with interesting delegation formats as well. We help to decentralize Solana, make it more robust and secure.
Ash: Are you working on any new features or products?
Sebastian: There’s a lot of features being worked on, the Marinade team is continuously shipping new products. Throughout the last 6 months, we’ve been developing the on-chain governance.
That includes the key decisions of Marinade as a protocol, but also liquidity mining gauges and validator gauges, where Marinade token holders can have an impact on how a certain part of the stake pool is delegated to validators, but also how the emissions to DeFi protocols look like when it comes to the $MNDE token, the Marinade token.
We're continuously building things and I think a very trending topic right now, not only on Solana but other blockchains as well, is MEV. So there’s things being cooked in the kitchen related to that and many other things as well.
Ash: Perfect, well I can’t wait to hear about it and we’ll follow your journey at Exodus.
Sebastian: Cool, looking forward to that and working more with Exodus!
How to stake SOL on Marinade Finance
Once you’re connected, you can stake SOL through their interface and receive mSOL (staked SOL), which you can then use across a variety of DeFi apps.
If you hold Marinade’s $MNDE token, you’re also able to stake it or participate in governance votes as Sebastian described above.
That's it for our guide on how to stake SOL on Marinade Finance!
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