Your SOL is not swapped into USDG.
Here’s what actually happens:
Your deposit is converted into one or more native Solana stake accounts managed by Marinade’s program.
Those stake accounts hold SOL at all times and are delegated to validators; this is what earns staking rewards.
The strategy tracks principal vs rewards so only the rewards portion ends up being converted to USDG.
Important notes:
You keep full price exposure to SOL on your principal. If SOL doubles, the value of your staked SOL doubles (in SOL terms), even though your rewards are paid in USDG.
You can unstake your SOL at any time:
Using instant unstake, when liquidity is available (may involve a small fee).
Using delayed unstake, which aligns with Solana’s native cooldown.
The only part that becomes USDG is your earned yield, not the original SOL you deposited.