Cena Marinade (MNDE)

Marinade token (MNDE) serves as the governance token for Marinade, a DAO operating on the Solana blockchain. Marinade has developed the mSOL liquid staking token, representing staked SOL within the Marinade stake pool.

The MNDE token was launched on October 7, 2021, allowing individuals to participate in the governance of the Marinade protocol and its treasury.

The launch of the MNDE token on October 7, 2021, followed a fair distribution approach, excluding any ICO or Venture Capital allocation. The total supply of MNDE is 1,000,000,000, and the minting of new tokens has been disabled.

MNDE holders have utilized funds from the treasury for various purposes, including projects from September 2022 to September 2023, a budget linked to Marinade's TVL growth, and distributions to the team and advisors based on TVL objectives.

The MNDE token's utility became evident when Marinade implemented on-chain DAO governance in April 2022. This functionality encompasses voting on proposals and using MNDE to influence delegation strategies. Participating in Marinade's governance requires locking MNDE tokens, with a 30-day waiting period for unlocking.

Locked MNDE holders control 20% of the total SOL within the Marinade Stake Pool, granting them influence over the allocation of SOL stake to validators. This allocation is facilitated through MNDE, and the voting power of locked MNDE holders determines preferred validators.

For insights into the potential Return on Investment (ROI) of MNDE used to bring SOL stake for validators, a calculator has been developed by Solana Validator "Cogent Crypto." This calculator considers MNDE and SOL market prices and the amount of SOL delegated through Directed stake.

Locked MNDE holders exercise governance power over Marinade's treasury and play a role in shaping the protocol's development through voting mechanisms. Throughout their engagement in DAO governance and MNDE Directed stake, these holders maintain ownership of their tokens.