MNDE Details
Total supply: 1,000,000,000 MNDE
Circulating supply: See stats
Issuance date: 7 October 2021
Fully issued date: None (distribution based on DAO votes)
Mint address: MNDEFzGvMt87ueuHvVU9VcTqsAP5b3fTGPsHuuPA5ey
Minting: Disabled
MNDE Background
Introduced in November 2021 as a fair-launch token with no ICO and no venture capital (VC) funding, MNDE stands out for its decentralized distribution model. This ensures that control of the protocol remains with the community and not external investors.
In 2023, Marinade transitioned its governance platform to Realms, further enabling MNDE holders to propose and vote on decisions directly. MNDE holders can lock their tokens to participate in governance, with a 30-day unlocking period once initiated.
MNDE Token Allocations
- 7.5% of MNDE (75M) is allocated to initial contributors. This distribution was completed in January 2024.
- The remainder of the MNDE treasury is under the control of the DAO, which can submit proposals and vote to determine how and when to distribute the tokens.
Current MNDE allocations passed and earmarked
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A budget of up to 6M MNDE budget for Marketing expenses between September 2022 and September 2023.
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A budget of up to 160M MNDE for the Open Door program, capped by Marinade's TVL growth.
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A 46M milestone budget was distributed to the team and advisors for TVL objectives. When operating expenses are greater than protocol revenue, MNDE is taken out of this budget to support contributor compensation.
