The official governance forum shows that the Solana staking protocol Marinade DAO has launched a new proposal to unlock 50 million MNDE for the reward event "Marinade Earn Season 3".
Specifically, the proposal proposes to allocate 25 million MNDE to deepen the liquidity of mSOL in DeFi by executing a strategy on Solend to make looping (staking) from Meteora mSOL/SOL more profitable than current mSOL pools such as Solend and Kamino and other SOL LST.
In addition, the proposal also proposes to allocate another 25 million MNDE to incentivize existing and upcoming Solana ecosystem tokens to pair with mSOL, thereby further embedding mSOL into the Solana economy and deepening its liquidity. This will be done through Kamino's vault and will cover new and upcoming Solana ecosystem tokens as well as established protocol tokens.
The main difference between Season 3 and Seasons 1-2 is that the core focus is on deepening the on-chain liquidity of mSOL, which is what Marinade lacks compared to other SOL LST protocols such as Jito. It is reported that Marinade Earn Seasons 2 distributed 25 million MNDE.
CoinGecko data shows that MNDE is currently at $0.196, with a 24H increase of 13.6%.
Beincrypto