The post Breaking News: Marinade Staked SOL Smashes 10M Milestone: Will MSOL Price Explode in 2024? appeared on BitcoinEthereumNews.com.

In a significant development for staking, Marinade achieved a notable milestone by officially surpassing a remarkable 10 million SOL stake!  Now, will the MSOL price explode in 2024? Let’s take a look at this MSOL Price article in more detail. What Is Marinade Staked SOL? According to the official X account, With over 10 million SOL tokens staked across a decentralized network featuring 100+ high-performing validators, Marinade has solidified its position as a leading player in the realm of decentralized finance (DeFi). The achievement includes an impressive +6.5 million in mSOL liquid staking and an additional +3.5 million in Marinade Native, marking a substantial stride towards the platform’s mission of advancing liquid staking protocols on the Solana blockchain. Marinade.Finance stands as the pioneer Liquid staking protocol constructed on the Solana blockchain, with backing from the Solana Foundation. Participants engage in staking their SOL tokens with Marinade, leveraging automated staking strategies for the delegation of SOL to validators.  In return, users are issued “staked SOL” tokens known as mSOL. These mSOL tokens can be utilized within the realm of decentralized finance (DeFi) or seamlessly exchanged back to the original SOL tokens whenever users choose to unstake. Founded in 2021 following notable recognition at a Solana hackathon, Marinade has emerged as the foremost staking platform on the Solana blockchain. Beyond providing a user-friendly avenue for network validation and yield generation, Marinade has positioned itself as a frontrunner in the field of liquid staking. Liquid staking has gained immense popularity by addressing a key challenge associated with traditional staking—token lock-up. Marinade, as a liquid staking provider, issues tokenized receipts for staked assets, enabling investors to maintain liquidity while earning additional yield. In this regard, Marinade issues stakes mSOL, a token that finds utility in various DeFi applications. Moreover, it is seamlessly exchangeable for other tokens such as SOL, ensuring…

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Filed under: News - @ December 9, 2023 9:18 am