NEW: MarinadeFinance is launching a “native” staking service in an effort to bring institutional investors’ $SOL into Solana’s biggest DeFi protocol. realDannyNelson reports
solution seems to have hit a ceiling at 2% of the network’s SOL, protocol insiders say. They’re convinced Marinade’s further growth will come only from appealing to institutional investors too weary to handle LSTs.
Staking SOL directly to validators is not new. It’s the original method investors used to capture the upside of Solana’s, which pays interest to those who financially vouch for the validators powering the network. “It’s not staking to one, but to about 130 validators that are ranked based on their performance, based on some decentralization aspects and so on,” Repetny said. “We’re introducing a product that relies on this automated staking and avoids completely the smart contract risk.”last November, when the collapse of FTX prompted a flight to safety across the Solana ecosystem, including in Marinade.
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