Marinade was founded through Solana ecosystem grants at the Solana Hackathon in 2021 and launched its liquid staking protocol and mSOL liquid staking token on mainnet that August. The MNDE governance token was minted on October 7, 2021, as a fair-launch token with no ICO (Initial Coin Offering). Marinade launched on-chain DAO governance in April 2022. Since then, all decisions related to the treasury have been voted on chain.

In July 2023, the DAO migrated its governance platform to Realms. This enables direct control of the treasury and protocol decisions by MNDE holders.

To participate in DAO governance, holders must lock their MNDE. We recommend locking on Marinade's Governance Page. Locking directly in Realms performs the same on-chain action. Anyone with locked MNDE can vote on proposals.

Locked MNDE is subject to a 30-day unlocking period which begins once the unlock is initiated. You can still vote during this period. Voting power scales with the lock time you have left, so it decays gradually across the 30 days instead of stopping the moment you start unlocking. Around halfway through, you still hold roughly half the weight of a full lock.

MIP-22 passed and allocates 10% of protocol revenue to buying MNDE on the open market. That MNDE is then distributed each quarter to eligible MNDE stakers.

To be eligible, a wallet must meet both conditions:

Eligibility is all or nothing. Eligible wallets share each distribution pro-rata to their average staked balance over the quarter. MIP-22 also seeded the MNDE-mSOL liquidity pool with 10M MNDE from the DAO treasury.

The claim is live. Q3 2026 rewards can be claimed on the MNDE claim page until 1 April 2027. See Am I Eligible to Claim MNDE Rewards? for eligibility details and claim steps. Only claim through app.marinade.finance. No one from Marinade will message you asking to connect a wallet or approve a transaction. Treat any such message as a scam.

You can follow the buybacks yourself on chain: the MNDE bought so far accumulates in BBaQsiRo744NAYaqL3nKRfgeJayoqVicEQsEnLpfsJ6x, viewable on solscan.io.

This program is separate from the earlier MIP-11 buyback program, which MIP-17 paused, and from MIP-13 Active Staking Rewards, which is closed.

Rewards from closed programs, including the MIP-12 Migrate Campaign and MIP-13 Active Staking Rewards, can no longer be claimed. The MNDE claim page now serves the MNDE Staking Rewards Program above.