Key points of Marinade's DAO constitution

Marinade is owned by MNDE holders that lock their tokens in Realms to obtain veMNDE. In a previous vote, MNDE holders ratified this Constitution that highlights the goals of Marinade as a DAO.

1. The Marinade DAO builds a censorship-resistant layer of Solana

The DAO builds the risk-management infrastructure to provide improved security and capital efficiency for the Solana network and the users through SOL liquid staking. Marinade governance will support development connected to the censorship resistance and liveness topic. It will support the ecosystem to build on top of Marinade but will not pursue building its second-layer DeFi primitives such as lending protocols, stablecoin, DEX, options, etc.

2. Transparent and principled delegation strategy

To maintain Solana robust and censorship-resistant, the DAO understands the risks and responsibilities of governing the stake and securing the network. Marinade aims to delegate to validators that demonstrate good long-term performance and are decentralized from multiple factors. Marinade governance should support initiatives to make the delegation strategy accessible and predictable and allow the ecosystem to form a consensus on how to delegate staked SOL responsibly

3. Separation of powers

To allow flexibility and predictability, the critical system parts are owned by the Marinade governance, and the operational control and funding are granted to the core team.

Marinade Governance (MNDE token holders + ecosystem council): main program upgrade, MNDE treasury
Marinade Core Team (team council): main program params, DAO program, fees

4. Fees usage

The primary usage of fees is to fund the team operations and further protocol development. The excess of fees accumulated is governed and decided by the DAO.

5. MNDE distribution goals

The incentives should be aligned with the objectives of the DAO. Starting with the fair launch, the Marinade governance plans to keep continuity in its objective for the DAO ownership to be well-spread in the ecosystem to benefit all the actors powered by secure Solana.

6. Amendments to this constitution by majority vote

Any change may be made to this constitution only by a two-thirds majority and at least 1% of all tokens participating.