Marinade DAO proposes to allocate 50 million MNDE to Marinade Earn Season 3

According to Mars Finance news, the official governance forum showed that the Solana staking protocol Marinade DAO launched a new proposal to unlock 50 million MNDE for the reward event "Marinade Earn Season 3". Specifically, the proposal proposes allocating 25 million MNDE by executing a strategy on Solend that would enable looping (staking) from Meteora mSOL/SOL to be larger than current mSOL pools (such as Solend and Kamino) and other SOL LST is more profitable, thus deepening mSOL liquidity in DeFi.

In addition, the proposal also proposes to allocate an additional 25 million MNDE to incentivize existing and upcoming Solana ecosystem tokens to be paired 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 Seasons 3 and Seasons 1-2 is that the core focus is on deepening mSOL’s on-chain liquidity, something Marinade lacks relative 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 trading at $0.196, with a 24H increase of 13.6%.