Cryptocurrency Q&A
What is Marinade coin?
What is Marinade coin?
Stefano
Tue Jun 25 2024
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8 answers
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Have you ever heard of the intriguing concept of liquid staking? Well, Marinade Coin, or MRINA, is a fascinating player in this space. But what exactly is it? Marinade Coin is a decentralized finance (DeFi) protocol that offers a liquid staking solution for Tezos (XTZ) holders. Through this protocol, XTZ holders can stake their tokens while simultaneously receiving a liquid token, MRINA, that represents their staked assets. This allows them to maintain the benefits of staking, such as earning rewards, while also maintaining the flexibility to trade, lend, or borrow their staked assets. In essence, Marinade Coin provides a way for Tezos holders to enjoy the benefits of staking without sacrificing liquidity.
8 answers
Ilaria
Wed Jun 26 2024
Marinade MNDE serves as the governance token for the Marinade platform.
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Raffaele
Wed Jun 26 2024
With mSOL, users can maintain access to their funds while contributing to the security of the Solana network.
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amelia_harrison_architect
Wed Jun 26 2024
Staking SOL on Marinade allows users to earn rewards for supporting the network.
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MysticInfinity
Wed Jun 26 2024
Marinade offers a unique solution for staking Solana (SOL) tokens.
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Leonardo
Wed Jun 26 2024
Additionally, mSOL can be used as the ultimate unit within the Solana DeFi ecosystem.
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