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What is MNDE token?

MNDE is Marinade Finance's governance token.

 It empowers holders with governance rights, allowing them to vote on key protocol decisions such as DAO fees, treasury management, and validator selection for SOL staking.
 

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.

The token also incentives decentralised growth through programs like the Open Doors initiative, which rewards ecosystem builders and contributes to Marinade’s record-high 10.5M SOL in staked assets. MNDE distribution strategies have evolved, shifting from liquidity mining to ecosystem contributions, with the MNDE Council controlling future liquidity mining initiatives. Significant portions of MNDE are allocated to growth efforts, and the protocol continues to focus on decentralizing Solana through staking pools and validator support.