Today, while researching the SOL ecosystem, I discovered a project called Marinade @ MarinadeFinance with a high TVL of 1.8B, ranking 6th in the entire SOL chain. It really shocked me! So I researched this project: one ⃣ What does Marinade do? ① Marinade Finance is a leading non custodial staking protocol on Solana, where users who stake SOL can receive mSOL tokens while maintaining liquidity and participating in DeFi, Earn automatic reinvestment, and decentralized network verification At present, the APY of its pledged SOL can reach 7.65%, which is a high APY among all SOL pledge agreements ② Institutional pledge service Marinade's products can provide pledge services for institutions in addition to regular stakes: https://marinade.finance/institutions contact-form Safe and reliable, compliant with SOC 2 standards, specially designed for institutional users - Marinade Native provides the best Solana staking rewards in the market; Integrate with BitGo, Copper, and Zodia to provide reliable hosting services ③ Exclusive staking service provider for the first Solana ETF (Canary) in the United States During the recent application process for the Solana ETF in the US stock market, Canary Capital submitted a Solana pledged ETF supported by Marinade Select. This marks not only the recognition of Marinade by traditional institutions, but also represents a breakthrough for Solana in terms of accessibility, compliance, and scalability of institutional user pledging! two ⃣ Marinade Token MNDE At present, the market value of MNDE is 39M and the FDV is 91M, but Marinade's annual revenue can reach 10M, which is among the lowest valuation/revenue multiples among mainstream DeFi protocols Starting from September this year, Marinade will repurchase MNDE with 50% of the monthly agreement revenue, which is approximately 5M per year. This is a great benefit for MNDE! In addition, the team plans to carry out 5% MNDE destruction to reduce the total supply At present, MNDE is not just a simple governance token: ① Annual MNDE repurchase of $5 million ② 25 million MNDE for governance participant rewards by 2025; Rewards are allocated based on voting weight and activity level; Encourage long-term holding and governance participation to increase token utility ③ Reduce supply by 5% The flywheel era belonging to MNDE is about to begin!