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Marinade’s MNDE gains 30% amid Solana DeFi revival, new gov initiative

Dorian Batycka
Edited by
News
Marinade’s MNDE gains 30% amid Solana DeFi revival, new gov initiative

Marinade’s MNDE token surged 30% after unveiling instant SOL withdrawals and a new creator rewards program, as Solana’s DeFi activity rebounds.

Marinade’s governance token MNDE (MNDE) shot up nearly 30%, briefly hitting $0.17, as the Solana-based liquid staking protocol rolled out a wave of updates aimed at reviving community engagement and token utility.

While it’s tough to pin the rally on a single catalyst, the timing lines up with several major developments.

https://twitter.com/MarinadeFinance/status/1922961811722104973

On May 15, Marinade’s DAO approved MIP.11, a proposal to direct 40% of performance fees from its Stake Auction Marketplace toward MNDE buybacks. Once implemented, the move could see the DAO purchasing the equivalent of about 12% of MNDE’s market cap annually, potentially adding steady buy pressure on the open market.

Other updates that may have boosted sentiment include the launch of instant unstaking for SOL — letting users skip Solana’s usual cooldown period — and a new creator rewards program aimed at supporting content contributors and community builders. These follow the late April rollout of MNDE-Enhanced Staking, which allocates 10% of SAM’s performance fees to active MNDE holders.

These follow the launch of MNDE-Enhanced Staking in late April, which gives MNDE holders a 10% share of SAM’s performance fees, encouraging deeper participation in governance.

https://twitter.com/SolanaFloor/status/1921586048007549267

All this also comes as activity across Solana’s DeFi ecosystem picks up. Total value locked on the network has surged more than 50% in the past month, climbing from $6.2 billion to over $9.3 billion, according to DefiLlama, bringing it close to the all-time highs set in January.

Marinade remains one of the largest liquid staking protocols on Solana, with more than $1.85 billion in TVL. Backed by the Solana Foundation and early investors like Serum, the protocol offers the mSOL liquid staking token, while MNDE powers governance decisions across the DAO.