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Marinade Staked SOL (mSOL)

Marinade Staked SOL (mSOL) is a token acquired through on the protocol. It represents the staked SOL within the stake pool, which can be later converted to staked SOL and accrued rewards. mSOL serves as a tradable asset in , fluctuating in value relative to SOL. Its price is recalibrated every epoch based on staking rewards earned by the Marinade Stake Pool. [1]

Overview

mSOL is a token obtained through staking SOL on the protocol, representing the staked SOL within Marinade's stake pool. These tokens serve as records, enabling later conversion to the staked SOL and accrued rewards. Additionally, mSOL can be utilized in DeFi while its value fluctuates relative to the price of SOL. [1]

Operating as a rewards-accruing liquid staking token, mSOL undergoes value recalibration after each epoch (2-3 days), dependent on the staking rewards earned by the Marinade Stake Pool. It's noteworthy that the protocol cannot create new mSOL without an equivalent amount of SOL being exchanged for them. Consequently, the total staked amount increases, leading to a rise in the price of mSOL each epoch relative to SOL, contingent upon the distribution of staking rewards for the SOL staked in the protocol. [1]
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Use Cases

mSOL tokens offer various utility functions within the growing ecosystem, enabling access to DeFi protocols while benefiting from staking rewards and supporting the network. Some use cases for mSOL include: [1]

  • Borrowing/Lending: mSOL can be or borrowed on various platforms within DeFi.
  • Liquidity Provision: mSOL is utilized in across DeFi, categorized into mSOL/ pools and mSOL/XXX pools, each with its respective advantages regarding impermanent loss.
  • Single-Asset Staking: Staking mSOL allows users to earn , the of Marinade, a platform exclusively offering this option.
  • Trading on DEXs: mSOL can be traded against other crypto tokens on , exchanging accumulated staking rewards.
  • Trading on CEXs: mSOL can also be traded on like , , or Gate.io. This allows users to move mSOL to their crypto wallets for full utilization within DeFi.

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Marinade Staked SOL (mSOL)

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April 16, 2024

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