Marinade fee structure
A clear breakdown of deposit, unstake, and performance fees across Marinade products, including governance control and current rates
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Marinade Native
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Marinade Select
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Marinade Liquid
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Instant Unstake:
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For Native Staking (not using Marinade Native):
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Fee: 5 basis points (0.05%)
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Applies to: Native staking operations not using Marinade Native
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Notes:
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This fee applies when users choose to bypass the standard unstaking delay by instantly unstaking their SOL.
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For Marinade Liquid (mSOL):
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Fee: No protocol fee
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Applies to: mSOL holders using the “Instant Unstake” function
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Notes:
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This is effectively a swap, not a traditional unstake.
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Price impact may apply based on the size of the swap and available liquidity.
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Delayed Unstake (1-epoch delay):
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For Marinade Native & Marinade Select:
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Fee: 0.0023 SOL (flat fee)
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Applies to: Marinade Native and Select users opting for delayed unstake
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Purpose:
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Covers costs of managing and merging stake accounts.
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Simplifies the unstaking process for the user by consolidating stake accounts before unstaking.
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For Marinade Liquid (mSOL):
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Fee: 0.1%
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Applies to: mSOL holders unstaking with delayed unstake
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Purpose:
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Discourages “toxic flow” behavior, where users try to game staking/unstaking timing.
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Redistribution:
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This fee is redistributed to all mSOL holders, rewarding long-term stakers and enhancing protocol sustainability.
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- Marinade Select:
- 30 basis points (bps) annually, fixed.
- Stake Auction Market (SAM):
- 50% fee on bid flow (the amount validators pay to receive stake).
- 0% fee on staking rewards.
- These fees can be adjusted by the Marinade Council.
- DAO governance only applies to parameters within SAM, such as validator performance fees.
- Additional fee structures or updates may be introduced through governance as the protocol evolves.