Marinade Launches "Earn Season 3" with 25 Million MNDE in Incentives

Marinade, one of the leading staking protocols on the Solana network, has announced the upcoming "Marinade Earn Season 3" launch. A governance proposal to allocate the 25 million MNDE budget for Season 3 has already passed, with 1.2 million MNDE tokens initially distributed to partners. The program is slated to commence on June 17th.

The initiative is designed to incentivize users to deepen mSOL liquidity, strengthening its position as a leading Solana Liquid Staking Token (LST).

Over the next three months, the program will distribute up to 25 million MNDE tokens to participants who engage in activities that enhance mSOL liquidity. Season 3 introduces a shift in focus from previous seasons, rewarding specific actions that directly contribute to mSOL liquidity rather than simply staking SOL for mSOL.

Three primary avenues for earning rewards have been outlined:

1. Providing liquidity to the Kamino's Raydium mSOL/SOL vault.
2. Participating in an mSOL/SOL looping strategy on Solend.
3. Engaging in various other pools and partner initiatives, as determined by market conditions and other metrics.

In a separate development, Marinade has partnered with Binance Web3 Wallet to offer a new staking reward campaign. Users who stake SOL for mSOL using the Binance Web3 Wallet can earn 1 MNDE per mSOL held, with no limit on the amount of MNDE that can be earned.

Simultaneously with Earn Season 3, Marinade is preparing for the highly-anticipated launch of Marinade V2, unveiled at the recent Solana Crossroads conference in Istanbul. This major upgrade is set to revolutionize the user experience, making Solana more decentralized, distributed, and resistant to censorship.